Evening star., 1950-05-03
Business Briefs

Electric Power Consumption
Jumped to 5,902, 1881 900 kilowatt
hours in the week ended April 20
VS.. 5,845 ,636, 900 in the previous
week and was 1877 above 5,303.-
BAL 900 in the like 1949 week.
Edison.
Steel Production Record for the
second quarter looks like a cinch."
Iron Age. Capacity output now
is being predicted through the
second or third quarter, the trade
magazine said.
General Electric Co. will prepay
on July the remaining $42.5 mil
lion of it's 5000 million postwar
financing program. said President
Charles E. Wilson. Payment will
leave GE with no obligations ahead
of its common stock.
National Airlines has retired IT'S
long-term debt two years ahead
of schedule. National has prepaid
the final eight installments. total
ing $1.263,157. plus interest, of a
SO million loan negotiated in 1916.
Public Service Electric & Gas
Co. awarded $26 million of first
and refunding mortgage bonds to
a group headed by Halsey. Stuart
& Co. on a bid of 101.27 for a
I2A% coupon.
Dow Chemical Co. declared a
dividend of so cents a common
share. payable July Is. Previous
quarterly payments were 40 cents.
A 2la% stock dividend was dis
tributed in January.
Jaeger Machine Co. declared a
quarterly dividend of 40 cents a
common share. payable June 10.
Previous payments were 80 cents.
Minneapolis Honeywell Regu-
latOr Co. declared a dividend of 40
cents a common share, payable
June 10. Prior to recent 2-for-1 l
split in stock, the company paid
62l2 cents share.
ROnson Art Metal Works de-
clared an extra dividend of Is
cents and a regular quarterly Of
IS cents, both payable June IL.
The quarterly rate was raised to
35 cents from Is cents in March.
Brown Shoe Co. declared div
idend of so cents a common share.
payable June l. Previous pay
ment was 40 cents in March.
Continental Oil Co. earned
So, 139, 1903 or 81 SO share in three
months ended March 81 VS.. $10.-
834,635 or 1925 year earlier.
Niagara Mohawk Power Corp.
net income for March quarter was
$6.439,875 or 50 cents VS.. $5,364.-
996 or SIS cents in the same 1949
period.
Southern Pacific System earned
$5,569,934 or $147 in March
quarter VS.. $3,022,929 or 80 cents
a year earlier.
Corning Glass Works net income
for IL weeks ended March 26 was
$3,301, AL or 1922 VS.. $1,271,913
or As cents in the like 1949 period.
New England Electric System
earned $3,285. 500 or A cents in
March quarter VS.. $2,698.59 or
40 cents a year earlier.
Beneficial Industrial Loan Corp.
net income for March quarter was
S2,516,943 or "a cents VS.. $1,886,-
109 or 81 cents in the same 1949
period.
Union Bag & Paper Corp.
earned $2,349.395 or $l.57 in
March quarter VS.. $2,166,736 or
$146 a year earlier.
General Time Corp. profit for
II weeks ended March Is was
$869,753 or $2.08 VS.. $573.027 or
$l.33 in the like 1949 period.
Copper Range Co. earned $685.
Ola or 81 cents in March quarter
VS.. $237,450 or AZ cents a year
earlier.
International Cigar Machinery
Co. net income for March quarter
was $309. 900 or 81 cents VS. $240,-
900 or 40 cents in the same 1949
period.
Pennsylvania Water g. Power
Co. earned $255,077 or SO cents in
March quarter VS.. $353,576 or 76I
cents year earlier.
American Machine & Foundry
Co. profit for March quarter was
$314.000 or 81 cents VS.. $340, 600
or rs cents in the same 1949 Pc
riod.
Frank G. Shattuck Co. earned
$270.099 or "a cents in March
quarter VS.. $3O8.170 or n cents