Evening star. [volume] (Washington, D.C.) 1854-1972, 1950-05-16
Business Briefs

Business Failures increased t.
PIT in the week ended May II
VS.. 1879 in the previous week anc
III in the like 1949 week-Dun &
Bradstreet. The latest total wa.
the highest since early March.
Industrial Production in the frs
1850 quarter expanded to an an.
nual rate of 1868 900 200, 900, &C
cording to the Commerce Depart.
ment. The annual rate was 2.sT
above the previous quarter, the de.
partment said.
Carded Cotton Yarn Spinner.
report a good backlog of untitled
orders and small inventories. said
an APP dispatch from Charlotte
N. c.
New York Stock Exchange Mem
bership was transferred for $780,
600, a drop OF $1,000 from the
last previous sale on May 8.
Consolidated Edison Co. stock
holders were told by Chairman
Ralph H. Tapscott that an in
crease in the common stock divi-
dend may be forthcoming in the
near future. The increase will de.
pend on the New York commits.
slon's decision on a request fol
higher rates.
L. A. Young Spring & Wire
Corp. declared a quarterly divi.
dend Of Is cents and an extra Of
IS cents. both payable June IS
raising payments for the yeal
ended July 81 to $3.75 VS.. 1925
IN the previous year.
Sunbeam Corp. declared a quar-
terly dividend of so cents. payable
June 80. A similar payment was
made March 81 prior to a 33h%
stock dividend.
United Fruit Co. declared a divi-
dend of rs cents a common share,
payable July IA. Previous pay
ments were so cents each quarter
plus an extra of 81 In the April
quarter,
Tide Water Associated Oil Co.
directors authorized redemption on
July / of the remaining 1882
shares of its 1918 dividend cumu-
lative preferred stock at $106 plus
accrued dividends.
Oklahoma Gas & Electric Co.
awarded $17,50O.000 of 30-year
first mortgage bonds to q group
headed by Merrill Lynch. Pierce,
Fenner & Beane on a bid of
101.591 for a 27s% coupon.
Missouri Pacific Railroad asked
ice permission to issue $4.125, 900
of equipment trust certificates to
help finance purchase of 80 new
diesel locomotives.
Pan American Petroleum e.
Transport Co. earned $3,777 $50
or 80 cents share in three
months ended March 81 VS.. $4.-
1853 800 or SO cents a year earlier.
Northern States Power Co.
(Minnesota) had net income Of
So, 557 .572. or % cents in March
quarter VS.. $3.355.6 or 80 cents
in the same 1919 period.
Columbian Carbon Co. earned
81 ,443,566 or 80 cents in March
quarter VS.. $2,575,0o2 or $3.50 a
year earlier.
ROnson Metal Works net income
for March quarter was 1895, s06
or 81 cents VS.. 81 .266,651 or $l.l6
in the same 1919 period.
Technicolor, Inc, earned 1882
985 or SO cents in March quarter
VS.. $663,753 or "a cents a year
earlier.
North American Oil Consoli.
dated. Inc, net income for March
quarter was $558.931 or $2.06 VS..
$664,733 or $245 in the same 1919
period.
H a m m nd Instrument Co.
earned $1.844.871 or $4.s4 in the
year ended March 81 VS.. $780,
40 or $685. in the previous year.
Mountain States Power Co. net
income for March quarter was
$3l0,071 vs. $332.l14 in the same
1949 period.
Birdsboro Steel Foundry & Ma
chinery Co. earned $34,05 or II
cents in March quarter VS.. 1884,
TIL or 81 cents a year earlier.
Union Asbestos a. Rubber Co.
profit for March quarter was
$6.815 or 2 cents a share VS.. $376.-