Evening star., 1943-11-01
Business Briefs

business DIIeTS
Don't Worry About the National
Debt, Americans were advised bvI
Stuart Chase in special article for
twentieth Century Fund. He said
Americas S productive power is so
great that a debt OF from 200 to 300
billion dollars at the end of the
war Is not to be feared However,
ne added that three ajor adjust
mentS IN viewpoint will be necessary
These included abandoning any idea
OF quickly paying off the debt ac-
ceptance of taxes high enough to
cover interest charges and use of the
tax structure TO keep the national
income high.
Industry is Determined to get
ready 10 solve postwar problems
declared Frederick c. Crawford
president of the National Associa-
tlon Of Manufacturers in announc
lng plans for the associations fortv-
eighth annual convention in New
YORK December g, 9 and 10. Fe
said the convention would be dedi-
Gated 10 the theme production for
victory and postwar Jobs"
Sales of Independent Retailers in
September were g. above the pre-
cedlng month and IL above a wear
ago, the Census Bureau reported In
nlne months, sales were ~ above
year ago Wholesale volumes in
september We're q, above the Dre-
cedlng month, but UNCHANGED from
year ago. while in the nine
months, they were 50 above a year
ago.
Standard Oil Co. of New Jersey
declared an extra dividend of so
cents share on the capital stock
ana the regular semiannual paw
ment OF the same amount, together
with dividend of one share of
Consolidated Natural Gas Co. stock
Tor each ten shares Of Standard. All
are payable December Is to holders
OF record November Is Consoli-
GATED is a new concern owning stock
OF i've natural gas companies held
for many Years by Standard.
National Dairy Products Corn. has
hot!hed holders it will pay on De
Cember l its outstanding. serial de-
pentures maturing June ! and De-
comber !, 1916 and June ! and
December l. l947 Debentures total
ing S750,000 are due on each of the
four dates. The entire issue was
authorized for $4,000 900. of which
Sl2,000,000 was outstanding Decem-
Der 81, 1912.
Bell Telephone Co. Of PennsyI-
vanla announced all of its 25-year
first and refunding mortgage s.
series B bonds Will be called for re-
demptlon. Payment will be made
on the 100000 bonds outstand-
ing at par and accrued interest on
and after December !.
L. K. SquibbS & Sons Offering of
42.868 shares of s425 cumulative
series B preferred and "A 799 shares
OF common was placed on the mar
Ket by an underwriting group headed
by Union Securities Corp and Har-
rlman Ripley & Co. The preferred
was priced sos share and the COM
mon at S64 share. Proceeds estl-
mated at S7072 653 will be used to
retire long term bank Indebtedness
and provide working capital.
Decca Records, Inc, directors de-
clared an extra dividend of 40 cents
share and the regular quarterly /.
payment of as cents. both payable |
December IA to holders of record
December l. These payments vii.
bring 1943 dividends to s1.4O a share
against Sl.15 paid in 1912.
General Tire & Rubber Co. has
filed With the SEC a registration
statement covering $1,000 shares of
cumulative preferred stock. SlOO par
value and will use the proceeds to
retire its present per cent cumu-
lative preferred series A. at slO5
share, and for construction of
a new tire and tube plant at Waco
Tex, and plant expansion at Akron.
stockholders will meet November
l9 TO act on the proposal.
A. .. Smith Corp. has received an
order Tor 900 miles Of 24-inch welded
pipe Tor new pipe line to be built .
by the Tennessee Gas & Transmits
sion Co, subsidiary of Chicago
Corp. The order involves around /
s100O0,OOO.
Revere Copper & Brass. Inc,
earned sl,270,9O7 or 81 cents a
share in nine months ended Sep
tember 30. AS a temporary con-
tngencY reserve of S1.000,0OO was
set up i'll the latest period, earnings
are not directly comparable with
net income of S2129,924 or Sl.27 a
share for the same 1912 period,
when no such reserve was set aside.
Sonotone Corp. earned S198, 1872 or
70 cents share III nine months .
ended September 30, compared with .
Sl88,46 or "a cents share a year
ago. /
National Candy Co. earned S273,-
807 Or SIPS share in the September .
quarter, compared with S375,2l3 or
Sl76 share in the same period |
last year. Net for nine months
ended September 80 was 1899, ,842 or
S4l4 a share, compared with $96l,-
292 or S4.45 a share in the same
months last year.
American Bank Note Co. earned.
S811,1 Isl or SO cents a share in nine
months ended September 80, COM
pared with S647 sos or SO cents
share a year ago. For the Septem-
United States Treasury Posi-
Ey the Associated Press