Evening star., 1950-05-28
Business Briefs
Business Activity will cont

Business Activity will continue
at high levels through June, &C.
cording to industrial buyers sur.
veyed by the National Association
of Purchasing Agents. July output
should turn down because of Ions
vacation close-downs, the associa.
ton said.
Manufacturers Sales in Apri
approximated s18.2 billion ane
topped the April. 1949, figure by
$500 million. but were SO below
the preceding month.-Commerce
Department. April had three few.
er working days than March. the
department pointed out. Inven-
tories remained unchanged from
a month earlier on March 81
They usually decline at this time
Of year.
Gross Debt of 48 States reached
an all-time peak of SAL billion
a gain Of nearly $500 million from
year ago.-Tax Foundation.
Automobile Production in the
United States set a new record
of 176,446 units in the last week
Wards Automotive Reports. In
cluded were 146.470 cars and &c.
976 trucks VS.. 136,879 and 30,15e
in the previous week and 93,334
and 1881 in the like 1949 week.
Wholesale Price Index of the
Bureau of Labor Statistics stooc
at 1561Fo Of the 1926 average or
May %. a gain Of 10 from a week
earlier, up 1.6To from four week.
earlier and 10 above a veal
earlier.
Safeway Stores, Inc, sales ir
four weeks ended May 20 totalec
$91 .052.15S. a drop of 2.8% from
a year earlier; in 20 weeks ended
May 20, s447.154.311. a decline
of 4.6T.
Studebaker Corp. declared q
dividend of rs cents a common
share. payable June 80. The com.
pany paid so cents on March 30
Kennecott Copper Corp. declared
a dividend of 81 common share
payable June 80. Previous pay.
nent was IS cents in March.
Consolidated Gas, Electric Light
g. Power Co. of Baltimore declared
a dividend of 35 cents, payable
July /. Prior to a recent 3-for-
split. payments on old stock were
80 cents quarterly.
Douglas Shoe Co. stockholders
will vote June 81 on an offer o1
General Shoe Corp. to acquire
their company for $4,000 shares oi
General Shoe valued at around
81 million.
Atlantic Coast Line Railroad
received ICC permission to issue
$50, ,724 900 Of new general mort
gage AZ bonds, due March l
1880. The new bonds will be Of
fered on an exchange basis for ar
equal amount Of outstanding frs
consolidated mortgage 40 bonds
due in 1852. .
Gulf States Utilities Co. was au.
thorized by the Federal Power
Commission to issue $l3 millior
Of 30-year first mortgage bonds Il
finance construction.
/ Pittsburgh & Lake Erie Rail.
road received 1CC permission t.
issue SO million 81 equipment
trust certificates to finance pur.
chase of new equipment.
Ingersoll- Rand Co. earned $3,.
935.661 or $1.94 in three month.
ended March 81 VS.. $4.983, ,481 OF
$2.46 a year earlier.
| Addressograph- -MuItigraph Corp
net profit for IL months ended
April 80 was $5.183,s68 or $6.87
VS.. $4.550,815 or $6.04 In the pre-
ceding fiscal period.
Pacific Western Oil Corp. earned
$916,645 or 81 cents in three
months ended March 81 VS.. ST.
u6b, ,O49 or II cents a year earlier.
L. A. Young Spring & Wire Corp
net income for nine months ended
April 30 was $2,785. .178 or $6.81 VS.
$2S07 $50 or $5.65 in the same
period last year.
Servel, Inc, earned 1856 ,468 OF
46 cents in three months ended
April 80 VS.. a deficit of 1869 1888 a
year earlier.
| Sunshine Mining Co. net income
! for three months ended March
81 was $368.592 or rs cents VS.
$25s,l9S or II cents in the same
1949 period.
Parker Rust-Proof Co. earned
$7l6,075 or $1.67 in six months
ended March 81 VS.. S707 ,495 OF
$1.65 year earlier.