Evening star., 1951-06-08
Business Briefs
LIST INcLnbEs oSsY ssIEGTEb IssiEs
Money in Circulation increased

Money IN Circulation increased
$50 million in the week ended
Wednesday to total Of $27,520,-
100000. which was SAL million
above the similar week last year.
Federal Reserve Board.
Tin Price for American users
was slashed another 7 cents today
by the Reconstruction Finance
Corp. The new figure, $l.29 a
pound, is about 2 cents under the
Singapore market price, which
normally quotes tin 3 or 4 cents
below the American market.
Bituminous Production for the
week ending June 2 approximated
8.625 900 tons. compared to 1896
900 tons in the like week last year.
National Coal Association.
American Telephone G. Tele-
graph Co. outstanding stock today
passed the SO billion mark through
conversion of debentures into
capital shares.
NHeavy Construction Contracts
awarded in the week ended Mon
day totaleG 1926. .036, 900, COM
pared with 1913. .745, 900 the week
before and $226.729,000 in the
corresponding 1850 week.-En-
gineering News-Record.
United States Steel Corp. estab-
lished an all-time company pro-
duction record of 2,056,262 tons of
ingots at its Pittsburgh and Chi
cago district plants in May. An
open hearth record of 1872, ,735
tons was set at the Homestead
(Pa.) district works.
Railroad Freight Volume in Me-
mortal Day week was 744.644 cars,
1873 per cent below the previous
Vice.. but 40 per cent above the
corresponding week last year
Association Of American Rail-
roads.
Handy & Harman, bullion deal
ers. cut the price of foreign silver
yesterday from 90.16 cents to 87.75
cents an ounce.
New York, New Haven & Hart
ford Railroad directors elected
Frederic C. Dumaine, jr., to sue
ceed his late father as president
and chairman of the board. Mr..
Dumaine is 40.
Beaunit Mills stockholders will
vote June 26 on a proposal to issue
100000 shares Of SIS cumulative
preferred no-par-value stock.
Aluminium Co. of America stock
will be listed for trading on the
New York Stock Exchange, begin
ming Monday. Alcoa has been
traded on the Curb Exchange for
more than Is years.
Phillips Petroleum Co. and Car
ter Oil Co. have abandoned a well
they sank in Morton County, N.
Dak., at depth of 1870 feet.
Dow Chemical Co. plans to build
an So million plant at Midland.
Mich, to manufacture vinyltuo-
lene, a substitute for styrene used
in making synthetic rubber, plas-
tics and drugs.
Celanese Corp. has formed a
new rayon yarn company, Celia
nese Venezolana, in cooperation
with Venezuelan textile interests
and plans to build a plant near
Caracas. -.
Texas & Pacific Railway is pur-
chasing 20 more diesel locomotives
for delivery in the first quarter
Iof 1852. They will make railway
fully dieselized.
Northern Indiana Steel Supply
Co. has purchased LaPorte Corp.
of LaPorte, Ind, which makes
bicycles, velocipedes and baby
walkers. The new owners plan
to operate the concern under the
name of Pal Wheel Goods, Inc.
International Harvester Co.
earned $34.717,000 or $2.46 a share
in the six months ended April 80,
VS.. $23, ,403, 900 or $l.6l in the 1850
period.
City Stores Co. earned $4,539,-
021 or $2.51 a share in the year
ended April 80. VS.. $3.950,862 or
I$2.34 the previous year.
Lane Bryant, Inc, earned $685.
900 or so cents per outstanding
share in the April 80 quarter, VS..
$310, 900 or So cents.
Domestic Finance Corp. earned
1868, ,071 or Sd cents in the year
ended March 81, VS.. $500, ,468 or.
43 cents. =,
General Telephone Corp. earned
81, ,849,374 or $3.17 in the April
80 year, VS.. $2,953 .428 or $2.09.
A. p. w. Products Co., Inc,
earned $76,902 or SO cents in the
March 81 quarter, VS.. $19,100 or