Evening star., 1943-11-19
Business Briefs
Money in circulation on Nov

| business 6HeTS
Money in circulation on Novem-
Der II totaled 1859 ,00O, 900, a
further gain of $45 10000 over a
week earlier, and $5,094 ,000, 900
above a year ago, the Federal Re-
serve Board disclosed in its weekly
summary of member banks condi-
ton. Member reserve balances
totaled $l2,263 900 900, a gain Of
$65, ,000, 900 over q week earlier, but
q decline Of $359, ,000, 900 from a year
ago. EXCESS reserves aggregated
81, ,100, 900 900, an increase of $20,-
600 900 from a week earlier.
Bituminous Coal Production In the
week ended November l3 approx
mated 1905 900 net tons. compared
with 100000 in the preceding week
and was l.3% below ll,453, ,0o0 in the
like l942 week, the National Coal
Association estimated on the basis
OF incomplete loadings data. For
the year to date, production approx
mated 503 .805 900 tons against $685.
1888 900 a year ago.
Cotton Spinning Operations in
October were at l29.5T of capacity,
against 127.5% in the preceding
month and 137.3% In the same
month last year. the Census Bureau
revealed. Spinning spindles in place
october 81 totaled 23,330,6 Of
which 22,599, ,426 were active at some
time In the month, compared with
22,63l 1898 active in the preceding
month and 23,0ls,226 in October,
1912.
General Tire e. Rubber Co. stock
holders authorized a new issue Of
$4,000 shares of slo0 par value pre-
ferred stock Of which $1,000 shares
are to be sold. Proceeds will be used
for plant expansion and redemption
of the old sl00 par value 81 pre-
fefred stock. Holders approved re-
demption Of the old stock which had
been called by the company for
December 81 at $l05 share and
accrued dividends.
Worthington Pump & Machinery
Corp. has completed renegotiation
for 1912, reaching an agreement for
new refund to the Government of
1851 ,426. Net income for l942 report
ed by the company at $2,75S, 800 or
S7.86 a share was reduced by the re-
fund to S2,207 ,463 or 1919 a share.
Nickel Plate Railroad will redeem
on December 20 all OF its Lake Erie
a. Western extended 81 bonds, due
l947, at 1917 plus accrued interest.
Nickel Plates net income for Octo-
ber was S758,687 on a gross of So
ISL 1897. compared with sl,7l7,226 on
a gross Of So. .608 02l in October, 1912.
Ten months net climbed to s7,726,-
922 on gross of s83,585 ,o93, COM
pared with $7.747,298 on $72,6l7,ll5
in the same l942 period.
safeway Stores reported sales in
four weeks ended November
totaled s46 ,005 1886 against s45, ,802, ,3o5
in the corresponding 1912 period, a
gain Of .449o. In A weeks ended the
same date, sales were S496 ,29l ,232
against $508,037,2l6 a year ago, a
decline or 2.3l %o.
Northwest Airlines, Inc, stock
holders will vote November 80 on
a proposal to increase capital stock
from 100000 shares to 100000.
Firestone Tire g. Rubber Co. d.
rectors will vote December Is on
a plan to authorize s6000O,OOo OF
new preferred stock. with a dividend
rate not to exceed Az q. and redeem
S45, 100000 Of 60 preferred now out
standing
Celanese Corp. of America and
subsidiaries earned S4,622.5l8 or So .0e
"a share in nine months ended Sep
Itember 80, compared with 1851 23e
or $3.50 a share in the same l94s
period. Third quarter earnings were
adversely affected by the aftermath
Iof the explosion at the Cumber.
land Md plant in June and BY
the manpower shortage.
Hudson Motor Car Co. and it,
domestic and Canadian subsidiaries
earned S319068 or 20 cents a share
in the September quarter. compared
with $763,268 or 4S cents a share
"a year ago. For nine months net
was Sl,364 ,l0l or Sc cents a share
compared with 1887 ,564 or 81 cents
"a share in the same 1912 period.
Eastern Gas & Fuel Associates
earned s2,789 678 in IL months ended
October 81, compared with s2,9O4,-
874 in the preceding year.
F. r. Squibb & Sons earned
s546,24l or S105 a share in the
September quarter. compared with
SAT- ,628 or "a cents share in the
same 1912 period.
United Corp. proposal to spend
not more than s2,50o.o00 to purchase
shares of its 50 cumulative prefer
ence stock will be considered fur
ther by the SEC at a reconvened
hearing November 30.
American Power e. Light Co. will
present its stock reclassifcation
plan to the SEC at a hearing De-
cember IA.
National Steel Corp. and its SUBJ
sidiaries, which resigned as COM
pany members of the American Iron
& Steel Institute in 1941 have re-
Joined that trade organization OF
the steel industry.
United Air Lines announced that
William Taylor has been named
president of its subsidiary, Llneas
Aereas Mincras, S. A. of Mexico
Fairchild Engine e. Airplane Corp
declared an initial dividend of 20
cents share, payable December
l6 to holders of record December 3
Kennecott Copper Co. declared a
special dividend of 81 and dividend
OF Is cents a common share, both
payable December % to holders of
record November 20. Payments for
ls43 will total 50, the same as in