Evening star., 1943-11-27
Business Briefs

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Business Briefs
Money in Circulation on November
) "a totaled $19,726, 100000, a gain OF
$l67 100000 over a week earlier and
IS 078, ,000,0 900 above year ago, the
Federal Reserve Board reported in
its weekly summary Of member bank
condition. Member reserve balances
totaled $l2, ,402 900 900, an increase of
$l39 10000 over a week earlier but
$344 100000 below year ago. Ex-
cess reserves stood at 81 ,040, 900 900, a
decline of 100000 900 from a week
earlier.
Department Store Sales in the
week ended November "a were 81 %
above year ago, while sales for
four weeks ended the same date
were 14eo above year ago, the Re
serve Board also reported.
Lower Commodity Prices in the
last week were reflected by the Asso-
ciated Press wholesale index of 35
staples, which stood at 1O6 l49o of
the 1926 average yesterday. COM
pared with 106.44 a week earlier and
l00.67 a year ago.
State and Municipal Financing
scheduled next week will total only
$l,768,317. compared with $l6O67,-
900 this week and a weekly average
for a year to date of SIS ,625 ,999, the
Daily Bond Buyer said.
Bituminous Coal Production in the
week ended November 20 approx
mated 12,7000O0 net tons, compared
with II ,270,000 in the preceding week
and was $40 above 1,72l 900 in the
like 1912 week. the National Coal
Association estimated on the basis
of incomplete loading reports. For
the year to date, production approxi-
mated 516,570,0O0 tons against ST.
484 900 in the same 1912 period.
World Leather Distribution will be
placed on percentage formula basis
under proposed agreement between
the United States and Great Britain,
predicted w. Maxey Jarman, rresi-
dent of General Shoe Corp, who is
chairman of five-man group who
returned from conferences in Eng
land. He indicated negotiations
have reached the final stage, but
said details of the formula could not
be revealed until it had been ap-
proved in Washington
/ New England Gas d Electric As
sociation and its subsidiary, Cape &
Vineyard Electric Co., asked the SEC
to approve the latter's proposal to
issue and sell to New England an
additional 5000 shares of s25 par
value common stock for a con-
slderation OF $50 a share. Proceeds
will be used to pay off go note
held by the First National Bank of
Boston
Dividend Shares, Inc, registered
with the SEC 12,500,O0O shares of
25-cent par value common stock
with a proposed maximum Offering
price of SIS, 100000 or SIPS a share
Argus Natural Gas Co., Inc, plan
TO sell its Kansas pipe line trans
mission system to the Northern Nat
ural Gas Co. was approved by the
SEC. Northern will cancel S7O0,-
900 Of Argus unsecured series A
AZ 20 promissory notes and pay the
balance, estimated at s65.743, ir
cash.
Cincinnati, New Orleans & Texa.
Pacihc Railway Co. reported Oc-
tober net income of S539,3O7 COM
pared with $346,054 in the same 1874:
month. Net for ten months was S..
1925 against s3,845 ,861 in the same
1912 period.
Western Maryland Railway re-
ported October net of S357,8l9 on
a gross of $685. .227, compared with
a net of S533,565 on gross of
s2,935 1868 in the same 1912 month
Net for 10 months was S4,l45.271 on
gross Of S29177,26O compared
with S3191,721 on S25. .4o1 SOP in the
same period last year.
l.. A. Young Spring & Wire Corp.
earned 1919 ,453 or SO cents a snare
III three months ended October 81
compared with sos ,O3O or 25 cents
I Siioi0 III JIlc SdlIlt 1877 IQCnll.
/ Colts Patent Fire Arms Mfg. Co,
declared a dividend of ST. a share
payable December Is to holders of
record December l, raising l943 pay
ments to $3.50 against SIS a share in
1912.
Abbott Laboratories declared an
extra dividend of 10 cents a share
and the regular quarterly dividend
OF 40 cents a share, both payable
December % to holders of record
December 2. A quarterly dividend
of 81 a preferred share also was
declared, payable January Is to
holders of record January 2.
Brokers Loans on Wednesday to-
tailed Sl,225 600, 900, gain of s94,-
OO0,0 over week earlier and 1892
100000 above year ago. the Federal
Reserve Board reported.