Evening star., 1950-09-28
Business Briefs

Bank ClearingS In rs leading
cities totaled $16,249.218,000 in
the week ended September 27, a
drop Of 12.4% from the 2l-year
high set in the previous week, but
remained 24.39o above the like 1949
week.-Dun & Bradstreet.
Business Loans of member
banks in leading cities jumped to
$15,517, 100000 on September 20,
gain of $187 million from a week
earlier and $2.228. .0o0,0 above a
year earlier.-Federal Reserve
Board.
Engineering Construction
awarded in the week ended Sep
tember Is totaled $244,811 900 VS..
1888 1896, 900 in tn eprevious week
and $163, 1877 900 in the like 1949
week-Engineer News-Record.
Automobile Production in the
United States this week will in
clude 1890 cars and 25,9l0
trucks VS.. 152.642 and 26,27O last
week-Automotive News.
Philco Corp. stockholders will
vote November % on a proposed
2-to-1 split. An additional shares
would be issued for each share
outstanding. increase the total
authorized to 5 million from 2.5
million.
White Sewing Machine Corp.
stockholders approved a 2-for-1
stock splitup. Earning in six
months ended June 80 totaled
$1,845,034 or $5.04 a share VS..
II .491.651 or $4.01 a year earlier.
Youngstown Sheet & Tube Co.
stockholders approved a 2-for-1
stock split by a majority of 1,480,-
OFT shares to 1,745. Distribution
of new certificates will start about
October II.
Tennessee Gas Transmission Co.
new go bonds will be priced at
101.45 to yield 29o to the first
call date, underwriters headed by
Halsey, Stuart & Co. announced.
The original offering price was
sold.
United States Industrial Chem
icals declared a dividend of 40
cents common share, payable
November l. The company paid
rs cents August l, first disburse-
ment since November, 1948.
Affiliated Gas Equipment, Inc,
declared a quarterly dividend of
20 cents a common share, payable
November /. Previous payments
were Is cents.
Wheeling Steel Corp. declared
a $50 stock dividend, payable Oc-
tober 25. and will appropriate
capital for the additional shares
from surplus at the rate of $25 a.
share.
ture a new synthetic fiber.
SeabOard Oil Co. declared an
extra dividend Of 81 and a regular
quarterly of 40 cents, both pay
able December Is. Last December
the company paid an extra of 40
cents.
Parke Davis & Co. declared an!
extra dividend of Is cents and a
regular quarterly of IS cents, both
payable October 81.
Southern California Edison Co,
excluding subsidiaries. earned SIT,
All, 750 in IL months ended August
81 VS.. $16,753,753 in the previous
IL months.
PENNSYLVANIA Power & Light Co.
net income for IL months ended
August 81 was $11, 1,554, ,384 or $2.67I
a share VS.. $9.031. .794 or $2.05 in.
the preceding IL months.
Texas Electric Service Co.
earned $5,220,706 in IL months
ended August 81 VS.. $4,192, ,604 in
the previous IL months.
Bates Mfg. Co. net profit for SO
weeks ended September 8 was ST.
280,400 or $5.55 a share VS.. 81 l,421.-
100 or 1894 in the like 1949 period.
Beatrice Foods Co. earned ST.
770.093 Or $1.64 in six months
ended August 81 VS.. $2,194,135 orl
$2.05 year earlier.
American Marietta Co. net in
come for three months ended Au-
gust 81 was $746,492 VS.. $l85,4O7
in the same 1949 period.
Falconbridge Nickel Mines, Ltd,
earned $1.008,826 or so cents in !
six months ended June 80 VS..
$808,219 or Is cents a year earlier.
American Hard Rubber Co. net
income for % weeks ended July 16
was $282,102 or $2.49 share VS..
a deficit of $265,819 in the like
1949 period.