Evening star., 1943-08-05
Business Briefs

Bank Clearings in % leading
cities totaled s8,597 ,932, 900 in the
week ended August 4, compared with
S7,936 1856 900 in the preceding week.
and 25.1@o above $6,875, ,O59 900 in
the corresponding 1942 period, Dun
g. Bradstreet, Inc, reported. I'm
portant city gains over a year ago
were: Omaha, 517qo; st. Louis,
$780,; Minneapolis, 1927; Kansas
City, 39.l%; New Orleans, 34.l% and
Buffalo, 3lee.
Another New Record for the Steel
Industry was set in June when pay
rolls totaled $136,2l7,000 highest
mark for any 30-day month in the
industry's history. In the longer
month of May, payrolls totaled
sl37 ,404 900, while in June last year,
they amounted to $l18,067 900. EN-
ployment declined slightly in June
to 63l 900, compared with $4,000 in
May and $4,000 in June. 1912.
A Sharp Drop in Lumber Stocks
has taken place in the last six
months, according to preliminary
returns from WPB survey. Many
yards reported little or no stock on
hand and some said they were
forced to close because they could
not get needed grades and sizes of
lumber.
United Drug Co. today offered
new debentures and preferred shares
totaling s30,000,0OO through a ma
tion-w wide syndicate of 66 investment
houses headed by Smith, Barney 81
Co. The offering included $4,000
900 of l5-year 3A sinking fund de-
bentures due 1858, and 100000 shares
of s475 cumulative preferred stock.
The former was priced at 1919 %
and interest. and the latter at s1O0
Proceeds will be used to redeem
$50, ,243,200 25-year 5qs bonds due
March IS, 1858, on September IS at
1887 and interest.
International Paper Co. earned
$2.320,08 or "a cents a share in the
June quarter. compared with ST.
l70,087 or SIS cents share year
ago. For six months net was 81 4,343.-
20l or Sill share. compared with
S4,639,982 or sl.27 share in the
first half of 1912.
Crown Cork & Seal Co. earned
Sill, sos or 80 cents share in six
months ended June 30, compared
with $752,790 or 81 cents share a
year ago Sales for the first half
totaled S24 1893 ,040 against $21, ,706,-
479 year ago.
Flintkote Co. earned s579,92e or
81 cents share in % weeks ended
July IT, compared with S691 .33l or
83 cents share in the same 1912
period.
Columbia Broadcasting System,
Inc, earned $2,204 ,499 or Sl.38 d
share in six months ended July 8.
compared with $2,2O5,91 or sl.l7sa
share year ago.
Sinclair Oil Corp. earned 1885,
952 or rs cents share in the first
half, compared with S8.423,448 or IS
cents a share year ago.
Square ID Co. earned s1.155,l75 or
s2.65 share in the first half. COM
pared with Sl,548,178 or S357 a
share in the same period last year.
American Water Works g. Electric
Co. earned s1,906,615 or "a cents a
share in six months ended June 30,
compared with s1,75l $50 or 80 cents
share in the same 1912 period.
Graham Paige Motors Corp.
earned $646,0l0 in six months end
ed June 30, after all charges and a
contingency fund of S599, TOO, COM
pared with S944747 in the same 1912
period. when no reserves were set
up. Net for the June quarter was
S302,l50 against S5ll ,489 a year ago.
Continental Oil Co. earned $6,857,-
965 or ST As share in the first half,
compared with s5,923,430 or Sl.26
share in the first half of 1912. Net
for the June quarter was s3,522 ,489
or IS cents a share. compared with
81, ,379 ,265 or 81 cents a share a year
ago.
Curtis Publishing Co. earned So
022 ,224,97 in the first half, compared
with Sl57, ,92982 a year ago. Both
figures were after taxes. Operating
revenues for the half totaled s3O,22l-
1882 against $24,372, ,0l9.63 in the
same 1912 period.
Ogden Corp. earned S30l ,242 in six
months ended June 30, compared
with $ll2,276 in the same 1912
period. President B. H. Brewster
reported considerable progress was
being made in the plan to convert
the Laclede Gas Light Co. into a
gas utility, while disposing of the
electric properties of this company
q d I ha I q anlnda IcIxta.- G