Evening star., 1950-05-11
Business Briefs

Bank Clearings in 25 le

Dank ClearlngS IN rs leading
cities totaled $13,128.06O. 900 in the
week ended May 10, a drop of
1917 from the preceding week.
but remained $50 above the like
l949 week-Dun and Bradstreet.
Business Loans of member banks
in leading cities declined to
$13. AIS, ,000, 900 on May 3, a drop
of $59,000.0o0 from a week earlier
and $560,00O,000 below a year
earlier-Federal Reserve Bank.
Engineering Construction
awarded in the week ended Mon
day totaled $l83, ,343 900 VS.. $780,
59l 900 in the previous week and
$3.50, ,991 900 in the like 1949 week
Engineering News-Record.
Steel Production for April to-
tailed 8.196,050 tons. highest mark
on record for the month-Ameri-
can Iron g. Steel Institute. The
latest total was more than
100000 tons above the previous
month and about 100000 above
April, 1949.
Panhandle Eastern Pipe Line
Co. decided to go ahead with plans
for a $120.000.00o expansion pro-
gram to increase capacity 300,-
000.00 cubic feet of gas a day.
Republic Steel Corp. declared
a regular quarterly dividend of
IS cents a common share. payable
July 3. Previous payment was so
cents. Net income for March
quarter was $16.62l 1874 VS.. $l5,-
298.628.
United States Gypsum Co. de-
clared an extra dividend of 81
and regular quarterly of 81,
both payable July /.
General Motors Corp. announced
it's Chevrolet division will double
production of automatic trans
missions by increasing facilities
at seven plants.
Standard Oil Co. 0ndiana) had
net income of around $24,7OO, 900
or $1.61 a share in the first 1850
quarter VS.. $25. 100000 or $l.66
in the same 1948 period.
International Paper Co. earned
SIC, ,295, ,248 or $226 a share in
three months ended March 81 VS..
$13,814,831 or $19l a year earlier.
Sinclair Oil Corp. net income
for March quarter was $13,326, ,5O2
or Sill a share. No comparisons
for year earlier were available.
international Nickel Co. of
Canada earned $8.329,0l3 or 54
cents in March quarter VS.. $12,.
762. .467 or "a cents a year earlier.
American Gas & Electric Co.
net income for March quarter
was $5.774.419 or SLIP VS.. $6,438.-
900 or $1.40 in the same 1949
period.
PhilcO Corp. earned $4,O74. 900
or $2.37 in March quarter VS..
$9l5 900 or 49 cents a year earlier.
Tennessee Gas Transmission
Corp. net income for March quar-
ter was $2,509.3 1886 or Al cents VS..
81, ,093, ,80l or 40 cents in the same
l949 period.
Trans World Airlines, Inc, re-
ported a loss of 1874, ,049 for the
March quarter VS.. a deficit of
$3.0l5,020 in the same period last
year.
johnson & johnson earned So
O9l ,525 or $151 in March quarter
VS.. $2.512,774 or s128 a year
earlier.
Western Union Telegraph Co.
had net income of $236,766 in
March quarter VS.. a deficit of So
o5O.87S in tn same 1949 period.
Louisiana Land & Exploration
Co. earned S2.19O.652 or "a cents |
In March quarter VS.. $1,s2O,5O4
Or 81 cents year earlier.
Gaylord Container Corp. profit
for March quarter was S954,l63 or
Al cents VS.. $l.250,158 or So cents
in the same 1949 period.
Interstate Bakeries Corp. earned |
S700.508 or $1.93 in 16 weeks end |
ed April % VS.. $748,796 or S2.O7
4 year earlier.
Stewart-Warner Corp. profit for
March quarter was S762,676 or SO Il