Evening star., 1952-07-22
Business Briefs

= Calumet and Hecla COnsOli-
dated Copper Co. will reopen it's
"Osceola Lode" mines in Michigan
to tap reserves which are expected
to yield LOG million pounds of cop
per in 10 years. The company
estimates cost of reopening at Sc
million.
Ocean-front Estate of the late
Harvey Firestone at Miami Beach
has been sold to a group headed
by Hotelman Ben Novak which
plans a huge new hotel twice as
big as anything now on Miami
Beach" The estate sold for $2.3
million. Cost of the hotel will be
over So million.
Life Insurance Purchases in
June were up Is per cent over the
like month in 1851. totaling ST.
589, 900, 600 against $2,258, ZOO, 900
last year. Ordinary life accounted
for $1.69 billion of the total, up
IA per cent over June, 1851
Life Insurance Agency Manage
ment Association.
Dayton Rubber Co. has an
Inonuced that subject to salts
factory completion of audits, it
would exercise its option to ac-
Iquire the American Latex Pro-
ducts Corp. of Los Angeles, now
privately owned. The Los Angeles
firm supplies foam rubber pro-
ducts for the West Coast aircraft
industry.
Westinghouse Electric Corp. has
reduced prices on II of it's tele-
vision sets by $40 to $50. j. E.
Walsh. sales manager of the ra-
dio and television divisions, said
the move was Ito give the firms
dealers increased dollar value"
Business Failures totaled 103 in
the week ended July 16, compared
with 1856 in the preceding week
and 1873 in the like week a year
ago. Failures involving liabilities
of $4,000 or more totaled 81 in
the latest week against 1913 in
the preceding period and 80 a year
|ago.-Dun & Bradstreet.
A New Company to be known
as Simpsons-Sears. Ltd. will be
formed to buy the mail order
agency and order Office business
of Simpsons, Ltd. The announce
ment, made at head Offices of the
Simpsons, Toronto department
store, said the purchase will be
made "as Of Jan. Z, 1858" and the
new company will be owned so
per cent by Simpsons and so per
cent by Sears Roebuck.
Westinghouse Electric Corn. dis
closed today it will build two of
the worlds largest transformers.
from the standpoint of power
capacity for the new Tennessee
Valley Authority Colbert steam,
plant at Pride, Ala. The 100000
kilvolt ampere transformers will
handle enough power for the
lighting requirements Of 100000
homes.
Alabama Power Co. in the 12I
months ended June 30 earned
$11, 1,613,661 compared to $10,295,-
076 in the previous IL months.
Atlantic Refining Co. in the sixI
months ended June 30 earned $21,-
934 900 or $2.37 share VS.. $40 !
723 900 or 1924 in the same 1851
period.
Detroit Edison Co. in the 12I
months ended June 30 earned SIS
765, ,703 or $163 a share VS.. $15.-I
903,194 or SLIT in the previous 12|
months.
Food Fair Stores, Inc, in the sci
weeks ended April 26 earned So
1856. .280 or $1.62 a share VS.. 81
709 ,889 or $2.08 in the previous So
weeks.
Georgia Power Co. in the 12I
ended June 30 earned SILL
OBJ 1852 VS.. $9,338,176 in the same
1851 period.
Hudson Motor Car Co. In the sixI|
months ended June 80 earned S4,-
114,3O3 or $2.16 a share VS.. ST.
938.118 or $1.02 in the like 1851 \
period.
Long Island r. r. in the five
ended May 81 reported all
net loss of $3,775, ,788 compared toll
q net loss of $3.865. .074 in the same
1851 period.
United Fruit Co. in the sixt|
ended June 30 earned
S20. .653 900 or $2.35 a share VS..
S27, ,428, 900 or 1912 in the same
1851 period.
Il