Evening star., 1950-06-20
Business Briefs
Railroad Operating Revenues

ndilTOau OpeFatlng revenues OF
Glass I roads in May were 1879
below the same 1949 month
Association Of American Railroads.
Passenger revenues were down
16.4To. while freight receipts were
only SO lower.
Business Failures increased to
178 in the week ended June Is VS..
164 in the previous week. but re-
manned below 1876 in the like l949
week.-Dun g. Bradstreet.
Philco Corp. displayed 81 new
models of television receivers at
its exhibit for dealers and dis
tributors at Atlantic City, N. j.
Prices on the new line ranged
from 800 to 40%o below those of
last summer.
Barnsdall Oil Co. stockholders
and those Of Sunray Oil Corp. ap-
proved the proposed merger of the
two companies.
United Aircraft Corp. Pratt g.
Whitney Division, received a $14,-
760, 900 contract for engines from
the Navy. .ug.
Columbia Gas System received
a high bid of 101.8 for $110
million of 80 debentures from
Halsey. Stuart g. Co. and associ-
ates. Reoffering is expected at
102. .488 to yield 1867.
Michigan Bell Telephone Co. re-
ceived approval from the Michi-
gan Public Service Commission
for a rate increase totalling SO
million annually.
Fairbanks, Morse g. Co. received
an order for % diesel railroad
locomotives costing about 81 mil
lion from New York, New Haven
g. Hartford Railroad.
Park G. Tilford, Inc, stockhold-
ers will vote June 26 on a proposal
to change the company's name to
Park g. Tilford Distillers Corp. A
non-liquor subsidiary. Park g. Til
ford. will continue as a separate
company. but other subsidiaries
will be merged with the parent
company.
Continental Can Co. opened
new plants at Pittsburgh and Mil
waukee. The former, consolidating
operations in the Pittsburgh
Wheeling area. will have 100000
square feet of floor space. The
Milwaukee plant will have a mil
lion square feet.
National Steel Corp. announced
planes for expanding blast fur
mace, coke and open hearth facili-
ties at a cost of S25 million to $50
million. Ingot capacity will be in
creased 100000 tons a year.
Socony-Vacuum Oil Co. has en-
tered the field of prefabrication
with a small. inexpensive package
thermofor catalytic cracking unit.
The unit is designed for small re-
fineries to produce high-octane
gasoline
American Zinc, Lead g. Smelt-
ing Co. may earn between $3.50
and $3.50 a common share this
year If zinc prices hold at present
levels of Is cents a pound. de-
clared President Howard I. Young
in New York address.
Chesapeake g. Ohio Railway net
income for five months ended May
81 was $9,3o7 900 or $1.15 a share
VS.. $13,520,575 or $169 in the same
1949 period.
Illinois Power Co. earned ST.
159, ,085 or $500 in IL months
ended May 81 VS.. $6,416,957 or
$2.95 in the previous year.
Central Illinois Light Co. net
income for IL months ended May
81 was $780,. .604 or 3.08 VS.. ST.
8S8 .430 or $2.98 in the preceding
period.
Baltimore g. Ohio Railroad
handled 61,518 cars Of freight in
the week ended June II VS.. 81 ,288
in the previous week and 46,805 in
the like 1949t week.
National Fertilizer Association
elected J. z. Potman board chair
man. He is president Of Sum
mers Fertilizer Co.
PulIman-Standard Car Mfg. Co.
appointed Roy F. johnson man
ager of the new sales and service
engineering division.
Crosse e. Blackwell Co. named
Albert w. Lennon general sales
nono0nr