Evening star., 1943-10-13
Business Briefs

DdHk LOANS LOT commerce ana
agriculture in 1O1 lee,Sng cities to-
tailed $6,277 900 900 on October 6,
gain of $70,000,000 from a week ear
lier, but $328,OO0,00O below year
ago, the Federal Reserve Board re-
ported. OF the weeks gain, s33,-
100000 was recorded in the San
Francisco district. Holdings of Gov
ernment securities totaled $36215,-
100000, gain of 100000 from
week earlier and Sl4O36, 900 600
above year ago.
Livestock Slaughter in the week
ended October was we'll above a
year ago, the War Meat Board an
nounced. Slaughter figures for the
week: Cattle, $4,000 against 281 900
year ago; calves, $4,000 against
10000; hogs, 8l5,Oo0 against Sl4,-
600; sheep, GAL 900 against $4,000.
Cash Dividend Payments in Sep
tember totaled 100000, a gain
of Sl2,000000 over the same 1912
months, the Commerce Department
estimated. For the first nine months
of this year, payments were $2383,-
100000, a drop of sl5,900.000 from
the same period last year.
Crude Oil Production in the week
ended october averaged 4,389 $40
barrels day, an increase of 65,Ol5
daily over the previous week, the
Oil & Gas journal revealed. Texas
accounted for most of the gain by
boosting its production $3.50 bar
rels daily to 1891 900 a day.
Machine Tool Output in 1914 will
be only 259s of the industrys peak
capacity, said Walter w. Tangeman,
president of the National Machine
Tool Builders Association. He said
the other 1870 of capacity would be
utilized where possible for fabrica-
ton OF other war materials.
A Crisis in Commercial Vehicle
Transportation will be faced in an
other year if surplus automotive war
supplies are not distributed more
carefully, declared Arthur Summer
field, chairman of the Postwar Plan
ming Committee of the National Au-
tomobile Dealers Association. "A
serious condition already exists
among both light and heavy COM
mercial vehicles" he added. The
situation is getting worse every day"
Business Failures in the week
ended October totaled AZ. un-
changed from the preceding week.
and compared with l73 in the like
1912 week, Dun & Bradstreet, Inc,
disclosed.
Oscar Mayer & Co., Inc. filed with
the SEC an amendment to it's regis
tration of $4,000 900 of 15-year 81 %
debentures, due 1858 fixing the pub
lie offering price at 1902 e. This
represents a spread of 2l4 % for ten
underwriters headed by A. G. Becker
& Co., Inc.
Chesapeake & Ohio Railway di-
rectors have authorized a distribu-
ton Of $40 par value of preferred
stock for each share Of common,
describing the step as capital re-
adjustment rather than as "divi-
dend income" The distribution will
be made December | to holders of
record November l If the ICC ap-
proves.
General Electric Co. announced
orders in the first nine months of
l942 totaled 81, ,199 904 900, a drop of
1910 from 1899 ,449 900 in the same
l942 period. Orders in the third
quarter totaled s258,375, 900, a drop
OF 45fo from year ago. First quar-
ter orders were 4leo above a year
ago, and second quarter volume was
down 80.
United States Steel Corp. has
completed the greater part of its
war expansion program and the re-
mainder of the new facilities will 90
into production soon, Chairman
Irving S. Olds said. The produc-
ton record of American business
during the past two years should be
a complete answer to those critics.
or advocates of a new economic or
der. who not so long ago advanced
the notion that our industrial sys-
tenn is moribund and incapable of
meeting the needs of the Nation"
he said.
Armour e. Co. is planning a new
financing operation, which will ag-
gregate $75,000 900, including s55,-
0OOOO0 in mortgage bonds and $40
000 0l0 ~