Evening star., 1950-05-24
Business Briefs


clined seasonally to 5,844. .561 900
kilowatt hours in the week ended
May 20. lowest point since Janu-
ary, and compared with 1894 $685.
900 in the previous week-Edison
Electric Institute. The latest total
was 11.2% above 5,255,272 900 in
the like 1949 week. however.
Home Building Costs reached a
new high in March and advanced
further in April-Business Week.
Average cost of a single family
dwelling in the Chicago Metro
politan Area reached $11,500 in
March. The 1948 low was $500
in May and the high, $l0,300 in
December. There was a decline
early in l949, but this was soon
reversed.
Wholesale Food Price Index of
Dun 81 Bradstreet this week edged
up to $500, highest level since
January. 1949. and compared with
$3.50 in the previous week and
$5.74 a year ago. The record of
$7.36 was set in July. 1948.
Zinc Price was raised half a
cent a pound to 121a cents, East
st. Louis. by a leading producer.
The metal has now risen 234
cents in series of eight increases
since mid March.
Life Insurance Company Pay
ments to policyholders and bene-
flciaries in the first 1850 quarter
totaled $974,525 900. a rise of $82,-
III, 900 from the same 1949 period
Institute of Life Insurance.
New York Stock Exchange Mem
bership was transferred for $52,-
900, an increase of $4,000 from the
last previous sale.
Best Foods, Inc, declared a spe-
cial dividend of 81, payable June
%. and a regular quarterly of so
cents, payable July 25. raising
payments for the year ended June
80 to SO VS.. $3.50 in the previous
year.
Homestake Mining Co. declared
dividend of IS cents a common
share, payable June 16. The COM
pany paid so cents in March.
Pennsylvania Power e. Light Co.
declared dividend of 40 cents a
common share. payable July l..
Previous quarterly payments were
30 cents. Net income for IL
months ended April 80 was $10,-
633, ,678 or $2.44 share VS.. $8,661,-
1872 or 1924 in the previous year.
Roanoke Pipe Line Co. of Viz
ginia has arranged a $3.50. 900 loan
with the Mutual Life Insurance
Co. Of New York on first mortgage
3ASo bonds. due 1870.
City Products Corp. has pur-
chased the assets of Jersey Gold
Diaries. Shreveport, La, one of the
largest independent dairies of the
South. The Chicago firm pur-
chased Cloverleaf Creamery of
Texarkana. Tex. earlier this
month.
Gulf Oil Corp. earned $25,957,-
900 or 1929 a share in three
months ended March 81 VS.. $28,-
939, 900 or $2.55 a year earlier.
Montgomery Ward & Co. profit
for three months ended April 80
was $9.45S,449 or $I.40 a share
VS.. So, 1902 .904 or $1.42 in the same
1949 period.
Oliver Corp. earned $2,165 900
or $2.46 in six months ended
April 80 VS.. $3,118. 900 or 1855 a
year earlier.
Reading Co. net income for four
months ended April 30 was ST.
236.071 or SO cents VS.. $2,0l0,259
or n cents in the same 1949
period.
Norfolk e. Western Railway
earned $6.185.015 or $1.O5 in four
months ended April 80 VS.. $685.
444 or $1.52 year earlier.
Marathon Corp. net profit for
three months ended April 80 was
81 ,495,710 or $1.10 VS.. $1.144,875
or 80 cents in the same 1949
period.
Southland Royalty Co. earned
$640,291 or IS cents In three
months ended March 81 VS.. $685.
O8l or 81 year earlier.