Evening star., 1943-05-20
Business Briefs
Freight Loadings in the week

Freight Loadings in the week end
ed May IS totaled 848,522 cars, a
gain of 3l,97l or 39To. over the pre-
vious week and an increase Of 9,468
or l.1fo over a year ago, the Asso-
citation OF American Railroads re-
ported.
Serving as Sparkplug for Post
war Prosperity, the United States
will have the largest accumulation
OF savings in its history, declared
James H. McGraw, jr., board chair
man and president of the McGraw-
Hill Publishing Co., who was ap-
pointed New York State Regional
Chairman of the Committee for
Economic Development. 1T would
be fatal to count on these to keep
us going-this backlog will Just be
a one-Way ticket to a disastrous
boom unless We have planned to
spread our buying power through
permanent employment-but these
savings are starter which will give
us momentum" he said.
Childs Co. directors announce
that insufficient debentures had
been deposited under its exchange
plan which would have extended
maturity of the loan, due April l
this year. The exchange agent was
directed to return 1943 debentures
which had been deposited. Under
the offer, holders would have re-
ceived debentures due In 1857.
First Boston Corp. announced
plans had been completed for pur-
chase and refunding of s21,635 900
In Lower Colorado River Authority
40 bonds formerly held by the
RFC. Public offering of the new re-
funding issue, probably serial and
term bonds, was expected next week
by group headed by First Boston
and Stranahan, Harris & Co., Inc.
New York Central Railroad obli-
cation OF s5,3o0,00O of go equip
ment trust certificates to be issued
by the First National Bank of the
City Of New York as trustee was ap-
proved by the ICC. The certificates
will be sold at 99.279Go and accrued
dividends.
Union Pacific Railroad directors
declared the regular quarterly divi-
dend OF $3.50 a snare on the COM
mon stock, payable July to holders
OF record June /.
international Mercantile Marine
Co. holders voted approval OF a plan
for merger of their company with
the United States Lines Co., a SUBJ
sldlary. The new company will be
known as United States Lines Co.
Reliance Manufacturing Co. earn
ed s279070 or sl18 a share In the
first quarter, compared with s2l4,472
or 88 cents share a year ago.
Rayb eStos- Manhattan, Inc.
earned s468,532 or IS cents a share
in the first 1943 quarter, against
s405,619 or II cents a share in the
same 1912 period.
United Drug. Inc, earned 1885,
BOB or IS cents a share in the first
quarter. compared with s476,64O or
"a cents a share year ago.
Rad Keit h -Orpheum Corn,
earned 81 1896, ,8l6 in 13 weeks ended
April 3, compared with $439,26 in
the same period last year.
Nickel Plate Railroad reported
April net income of $789,535 on a
gross of s8,384,452, compared with
$l26,563 on a gross of $7,227.83l a
year ago.
Illinois Central Railroad reported
net income of s9,652,0O in the first
four 1943 months, compared with
$5,511 900 in the same 1912 period.
L can't say when we'll pay divi-
dends," declared President j. L,
Beven. I'VE do not want to pay
dividends until we can do so on a
substantial basis. I can say without
qualification that the Illinois Gen.
trail is in good condition, but MOTH
ing is more important now than to
get our debt down."
Colorado & Southern Railway re-
ported net income for 1912 totaled
$2,729,605 against $lO43,184 in 194l,
Total income was 1862 BOG, against
$2,048, ,030 in 1941.
American Airlines declared a reg
ular quarterly dividend OF the s4.25
cumulative convertible preferred
amounting to $l0625 per share, pay
able July Is to holders of record
July l..