Evening star., 1950-05-29
Business Briefs
Department Store Profits drour

-
last year along with prices and
sales-National Retail Dry Goods
Association. Profits of typical
stores amounted to 2.7% after
taxes VS.. $3.50 in the preceding
year. Sales declined go while
prices were off 4.8%o. Operating
expenses were 31.8% of sales VS..
30.1% in l94S.
Retail Sales in June will ap-
proximate $10,701 ,0O0, 900, a de-
cline Of 10 from a year earlier,
according to estimates of Sales
Management magazine.
Colorado Fuel & Iron Corp.
declared a quarterly dividend of
37h cents share and an extra
dividend Of 3712 cents. both pay
able June 80. Previous payments
were rs cents quarterly. A spe-
cial dividend of 81 was paid in
May. 1949.
Union Carbide & Carbon Corp.
announced its Bakelite Division
will build a new polyethylene
resins plant at South Charleston
w. Va. To be completed in the
third quarter of 1851, the new
plant will almost double company
production Of bakelite polyethy-
lene.
Consolidated vuItee Aircraft
Corp. announced it is designing
an airliner to use turbo-propeller
power plants and will discard all
intermediate plans for production
OF piston powered airliners.
Philadelphia Electric Co. will
install a huge steam generator of
165-million-watt capacity at its
Richmond Stations soon. The new
generator weighs million pounds
and will supply the needs of al
most 100000 persons.
Crowley, Milner e. Co. directors
voted to call for redemption of
prior preference and preferred
stock, subject to a confirmation of
a 15-year loan Of So million from
a bank and insurance company.
Retirement would be on or soon
after July /.
Admiral Corp announced a new
combination television receiver
and radio phonograph price at
$379.95.
Columbia Broadcasting System
signed up more than So million
Of radio and television business
over the weekend, including VIM.
Wrigley, Jr. Co.. Coca-Cola. Car
nation Co., Embassy Cigarettes
and Magnavox programs.
international HI Harvester Co.
earned $23. .403 900 or $1.61 a share
in six months ended April 80 VS..
$37 ,479,000 or $2.72 a year earlier.
Philip Morris & Co., Inc, re-
ported net income of $15,303, 1874
or $7.26 share in the year ended
March 81 VS.. $12.498, ,058 or 1884
in the preceding fiscal period.
General Foods Corp. earned
$8,317.654 or $l.45 share in three
months ended March 81 VS.. ST.
3,797 or $l.32 a year earlier.
Atlantic Coast Line Railroad
net income in four months ended
April 80 was $5,485 ,596 or $685.
VS.. S.. 162.414 or $6.27 in the same
l949 period.
Western Maryland Railway
earned $1,122,787 in four months
ended April 80 VS.. $2,041, ,681 a
year earlier.
Gulf States Utilities Co. net in
come for IL months ended April
80 was $5,632,70 or STA VS.. $4,-
87S.8s2 or $1.68 in the preceding
fiscal period.
Brown Shoe Co. earned 1885,
055 or $2.95 in six months ended
April 80 VS.. $1.307, ,249 or $2.49
a year earlier.
Phillips Packing Co. reported a
deficit of $1,112,178 in the year
ended March 81 VS.. loss of $751;
s39 in the same period last year.
Diana Stores Corp. earned
$678,353 or 78 cents in nine
months ended April 80 VS.. $952, ,834
or $1.10 year earlier.
Pittsburgh & West Virginia
Railway net in four months ended
April 80 was 1926, ,281 or II cents |
VS.. 1878 1923 or $1.22 in the same
1949 period.