Evening star., 1950-06-15
Business Briefs

Bank Clearings in IS leading
cities totaled $13,536, ,430, 900 in the
week ended June ID, a drop of
$50 from the previous week, but
remained 1867 above the like
1949 week-Dun & Bradstreet.
Business Loans of member
banks rose to S13,394.0O0,O 900 on
June Z. a gain of $35 million from
a week earlier, but remained $40
million below year earlier-Fed-
eral Reserve Board.
Refined Copper Stocks sank to
81 l,O2O tons on May 81 VS.. 57,028
a month earlier, and lowest peace
time mark since l937-Copper In
stitute. The latest total repre-
sented less than a two-Week sup
ply at current consumption rates.
Crude Oil Production averaged
5,305 ,450 barrels daily in the week
ended June 10 VS.. 5,204, 500 in the
previous week and 4,930,750 in the
like 1949 week-American Iron &
Steel Institute.
New Passenger Car Registra-
tions in April approximated 472,-
900, about $4,000 behind the rec
ord set in March, but $4,000 above
the same 1949 month";. L. Polk
& Co.
Wholesale Food Index of Dun &
Bradstreet this week dropped to
$5.94 VS.. $6 last week, sharpest
decline of the year to date, but
remained 4.6% above $3.50 a year
ago. ~ !
Advertising Volume in 1949 ap-
Iproximated $5.202 200, 900, rise OF
TO from 1948, and a new all-time
record-Printers' Ink. Newspaper
advertising totaled ST .905 ,OO0, 900,
or 36.6% of the total, a gain of
800 from 1948.
Lehman Corp. declared a divi-
dend of $685. a common share,
payable June q, raising payments
for the fiscal year to $4.45 VS..
$685. in the preceding year.
State of West Virginia awarded
$6 million of road bonds to Chase
National Bank and associates at
a net interest cost of 1.4035196 for
combination of IS. 114s and 12s.
American Can Co. will spend
$50 million this year on new
plants with more than half 60
ing for facilities to make beer
cans and milk containers.
Southwestern Bell Telephone
Co. was awarded a 1870 rate in
crease in the City of Dallas, effec-
tive tomorrow. This amounts to
about half the boost requested by
the company five months ago.
Ford Motor Co. announced pro-
duction at Buffalo would be in
creased to 900 cars daily by July
81, compared with 1872 daily at
present. Output at Dallas is to
be increased to 500 daily by Au-
gust /, compared with 344 daily
now.
Bond Stores, Inc, sales in May
totaled $3.50, ,939, a drop of 17.1%
from a year earlier; in five
months, $28.64l, ,706,. a decline of
1879.
Armour & Co. earned $685.
954 or $1.94 a share in 26 weeks
ended April 20 VS.. a deficit of
$6,512,634 a year earlier.
International Telephone & Tele-
graph Co. and subsidiaries had
net income of $2,064 ,045 in three
months ended March 81 VS.. ST.
506,075 in the same 1949 period.
Columbia Pictures Corp. earned
81 ASS, 900 or $189 in nine months
ended April l VS.. $452,000 or "a
cents year earlier.
United States Smelling Refining
& Mining Co. net income for five
months ended May 81 was $751;
575 VS.. $l,379,124 in the same 1949
period.
Sterchi Bros. Stores, Inc,
earned S419,556 or 70 cents in
three months ended May 81 VS..
$307 ,431 or 81 cents a year earlier.
Hallicrafters Co. net income for
three months ended May 81 was
$685.. 1852 or $1.O2 VS.. $143,896 or 81
cents in the same 1949 period.
Drummer Mfg. Co. earned $780,
1877 in six months ended May 81
VS.. SGT ,304 a year earlier.