Evening star., 1943-10-04
Business Briefs

Uncle Sam Now Owns more than
20Te of the manufacturing facilities
Of the nation and may, through con-
tingent liabilities own even more
eventually, reported the New York
Trust Company's Index. Manufac-
turing investments have risen from
around $4,000, 900 900 before the war
to about $4,000, 100000, less an un-
calculated allowance for excessive
wear and depreciation. About 75qo
Of new plants and equipment is
owned by the Government. The
finding of useful tasks for this great
plant and human organization after
the war will raise immensely diff
cult problems. the Index declared.
Rayon Earnings will be limited for
the duration by production restric-
tions and taxes but postwar sales
prospects place the industry in the
growth" category. according to the
United Business Service. Output of
rayon yarn and staple fiber in 1943
will probably total close to 50,000,-
900 pounds, a gain of NJ over the
1912 record, the Service added.
Foreign Trade Agents Must Be
Trained by American business en-
terprise if the nation is to obtain
its fair share OF an export boom
after the war, warned President Roy
w. Clifford, vice president and as
sistant general manager of Norge
division of Borg Warner Corp.
These men must know how to tune
in with the temperaments. customs,
traditions, business methods and ma
tilonal ideals of the people they call
upon" he said.
New Working Capital Will Be
Badly Needed by the aircraft in
dustry in converting to peacetime
operations, declared Assistant Pro-
fessors Lynn L. Bollinger and Tom
Lilley of the Harvard Business
School in report on The Financial
Position of the Aircraft Industry" !"
The comparatively weak financial
position of the industry apparently
will not affect war operations, be-
cause of substantial cash advances
from the Government, they found.
The Basic Question of Manpower
is whether it arises from shortage
OF workers or a failure to make the
best use of those available, declared
the National City Bank in its
monthly letter. The quit rate in
industry, for example, which accord
ing to the Bureau of Labor Statistics
was IN July at an alltime high of
1887, equivalent to nearly 9Oce per
annum, obviously reduces efficiency
AbSenteelsm and the feather
bedding type of restriction on in
dlvldual output enforced by some
labor unions are other problems. :
A S6000,0O0 Offering of Imperial
irrigation District, California. cleo
trlc revenue 3l2G, 3l4 9. and 3e
bonds, eighth issue, was made by a
banking group. headed by Blyth &
Co.. Kaiser g. Co. and John Nuveen
q Co. The bonds were issued to
f1nance acquisition of the powe,
system of the California Electric
Power Co, in the Imperial and
Coachella Valleys.
New York Bank Earnings were
well above year ago in the third
quarter. Among per share earnings
were: New York Trust, s1.60 against
Sl.36 a year ago. Bankers Trust
! rs cents against 10 cents; Chemica
Bank & Trust, "A cents against 81
cents; Continental Bank & Trust
So cents against 80 cents; Public
National Bank g. Trust. IS cent
against 70 cents: Central Hanove
Bank d Trust, $3.50 against SIPS
Manufacturers Trust, Slip agains
sl.O0: Public National Bank. g.
cents against 73 cents. Guarant,
Trust reported surplus and undi
Vided profits of sl97 47S, 900 on Sep
tember 30, compared with s18e All :,
600 a year ago.
Braniff Airways, Inc, announced
application would be fled toda,
With the CAB for local and ex.
press routes between New York
Detroit and Chicago. It's presen,
system is confined to the South.
west.
Outlet Co. earned s275, ,44O or SAT-
share in six months ended July
81, compared with s249,780 or s242
a share in the same period last year
Universal Pictures earned s2.77l,
338 in 80 weeks ended July 81. com
pared with sl,873.443 in the CORE
spending 1912 period.
American Gas & Electric Co
earned sl2,200.276 or s2.34 a shar,
In IL months ended August 81, com
pared with s11,467,903 or s2.l8
share in the previous year.
Waukesha Motor Co. earned 1928
332 or $l.56 share in the fiscal yea,
ended July 81, compared with $751;.
ITO or s2.l5 a share in the precedin,
II months.
Petroleum Corp. Of America re-
ported net assets on September 3,
were equal to s997 share O,
l,856,000 shares outstanding on tina
date, compared with s9.46 a shar,
on l,856,000 on June 80 and se.14 s
share on 1860, 900 shares a wear ago
Steel Rate 10 Hold