Evening star., 1943-09-23
Business Briefs

Business Briefs
Bank Clearings rose to 13-year
high in % leading cities during the
week ended September %, Dun g.
Bradstreet, Inc, reported. Reflect
ing the war loan drive, quarterly tax
payments and mid-month SETTLE
ments, the total reached S10,831,-
l08, 900, compared with s10,061 ,906,-
600 in the preceding week, and was
33.leo above So, ,138, ,88S 900 in the like
1912 week. Important city gains over
year ago: Omaha, $685.; Baiti-
more, $685.; Minneapolis, 51.6%;
New Orleans, 1867: Houston, 43To;
Louisville, 425T; Dallas, 41T.
Gasoline Stocks September 18
totaled II ,299 900 barrels, compared
with II 1,923, 900 a week earlier and
79,O77, 900 a year ago, the American
Petroleum Institute announced. The
index Of Eastern Seaboard civilian
supplies of gasoline and fuel oils ad-
vanced to 42.5% of normal, COM
pared with 41.9% a week earlier.
Pan American Always reported
141 1896, ,499 passenger miles were
flown in the seNond quarter, COM
pared with III, ,683 1877 in the preced-
ing three months and 87,769,l ,l53 in
the same 1912 period. Miles flown
totaled 1928 $3.50 against 1890. SIS
in the preceding quarter and 1885,
418 in the same 1912 period.
Chase National Bank directors
authorized an increase of $21 AGO 900
In the surplus account, raising it
from $l00, 0,27o,0 900 to $I2l, ,73o 600.
Capital was left unchanged at $780,
10000. The increased surplus re-
f1ected an enlarged capital position
as result of recoveries, improved
earnings and profits on sale of Sc
curities.
American & Foreign Power Co.
received word from Argentina that
the federal commissioner of Men
doza Province had modified a decree
ordering a $50 cut in power rates of
its subsidiary, Andes Electric Co.
The new regulation applies the cut
only to commercial residential Gus
toners. which represent 800 of the
total customers, but consume only
$50 of total power.
American Sumatra Tobacco Co.
earned $607, ,184 or $3.16 share in
the fiscal year ended July 81, COM
pared with 5000 ,446 or $3.17 share
in the preceding year.
American Shipbuilding Co. earned
$555 ,309 or $4.35 a share in the fiscal
year ended June 80, compared with
$543,911 or $426 share in the pre-
vious IL months. Figures do not
include operations of Delta Ship
building Co., subsidiary.
Cooper Bessemer Corp. earned
$436,687 or $128 share in six
months ended June 80, compared
with $304, ,401 or rs cents share in
the same 1942 period.
Nickel Plate Railroad reported
August net income of STATES on q
gross of $8,194,13S, compared with
s742,330 net on gross OF $7,855, ,005
in the same month last year.
A Special Offerings Plan for the
Philadelphia Stock Exchange has
been approved by the SEC and
will become effective Immediately.
1t Is similar to plans already ap-
proved for the New York Stock
and Curb Exchanges and the San
Francisco Stock Exchange.
Pere Marquette Railway reported
August net income of 1851 ,831 on a
gross o< $4,812,727, compared with
a net of $332,970 on a gross of
$3,926, ,884 in the same 1912 month.
Engineers Public Service Co. dis
closed its president, D. G. Barnes,
was in FL Paso, Texas, continuing
negotiations for the sale, Of the
company's Utility holdings there to
the municipality.
American Airlines carried 2,e43,gs8
pounds of express In August, a gain
of 67.3To over year ago, while air.
mail totaled 2.484,601, an increase of
92.1% over year ago. The average
payload per plane was 1858 pounds
against 4,276 in August, 1912, a gain
of 1882.
New York Telephone Co. elected
Chancellor William Pearson Tolley.
of Syracuse University, to the board
as successor to the late HUNTINGTON
B. Grouse.
Increased War Casualties were re-
f1ected by $15,1O0000 in claims paid
by American insurance companies
under 11.100 policies as result of
deaths among United States armed
forces in the first six months of
this year, the Institute of Life In
surance disclosed. From the wars
start to the beginning of 1943,
claims totaled $4,000, 900 under H.
900 policies. AS average ownership
is two policies per holder, the num-
ber of deaths is probably half the
number of. claims paid.