Evening star., 1943-03-30
Business Briefs

the cotton textile industry's 1912
production went into military use
reported Ray Bell, president of the
Cotton Textile Merchants Associa-
tlon of New York. Last years out
put OF 12,416, 100000 square yards
was an all-time high. Civilian sup
ply was estimated at more than
7,5o0,O00,0OO square yards in con-
trast with an estimate of 100000
600 for civilians in le41.
The Power of Advertising should
be used by food manufacturers tc
help solve the grave manpower crisis
IN production, processing and dis
trlbutlon of food, declared Paul S.
Willis, president of the Grocery
Manufacturers of America. In a
pamphlet War Effort Advertising
ne said thousands of men are leav-
ing farms under the delusion they
can contribute more to the war
effort by working in a factory. and
urged a public information drive
through the industry's newspaper.
magazine and radio advertising.
A $500 Television Set that will
bring Saturday afternoon football
games into the living room as vividly
as any neWSreel will be an earlv
postwar development, according to
the Wall Street Journal, which re-
ports radio industry leaders are pre-
pared to go into large-scale pro-
auction of popular priced television
sets as soon as peace comes.
Crude Oil Production decreased
to a daily average of 3,91217O bar
reis in the week ended March 81,
the Oil and Gas Journal reported
This was decrease of 3O,73O barrels
a day from the previous week.
Lockheed Aircraft Corp. reported
1912 sales totaled $491, ,16O,47O, a
5000 gain over 1941 and 1,1OO%
above 1910. Indicated profit was
S8,163,721 or $3.50 a share for 1942,
against $7,416, ,536 in 1941, although
this may be reduced somewhat by
contract renegotiations in which it
was reported Federal officials were
asking for sharper price cuts than
proposed by the company.
Wesson Oil & Snowdrift Co,
earned $1,434,66 or $1.46 a share
IN SIX months ended February 27
compared with ST ,O70,262, or 83 cents
a share, a year ago.
Timken Roller Bearing Co. earned
$6,475, ,262, or $2.68 a share, in 1912
after taxes amounting to $20,495,-
682. In 1941, net profit was $9,476,-
838, or 1892 a share.
Air Reduction earned $6,791,171 or
$3.50 share in 1912, against $7,l16,-
GIT or S2.62 a share in 1941.
Lone Star Cement Corp. earned
$3,443 I339 or $3.50 a share in 1912
against $4,104,535 or $4.33 share in
1941.
General Motors Corp. reported
payrolls in 1912 at home and abroad
reached new record of $959,314, ,O62
compared with $669, ,744 ,87O in l941
The average number of hourly rated
employees in the United States alone
was 221 ,709 in 1941 and 221 ,4O1 in
1912, but the number increased rap
idly in the last half of the year and
reached 1924 in December 1912
compared with peace-time peak OF
240,046.
Bank Loans Declined S48 OO0, 900 ir
banks of 101 leading cities during
the week ended March "a, the Fed
eral Reserve Board reported. Hold
ings of Treasury bills declined $24O..
100000, but holdings of Government
bonds increased $143 100000.
Chesapeake & Ohio Railway re.
ported a record total income OF
$l88, ,331 1886 for 1912 was whittlee
down by higher operating costs ano
increased taxes to a net of $33, ,153,-
437 or 26To under 194l.
Madison Square Garden earned
1921 ,389 in the nine months endee
February %, against $378,604 a veal
ago.