Evening star., 1943-11-30
Business Briefs

Business Briefs
Bank Loans for commerce, indus
try and agriculture in 101 leading
cities totaled S6,423 ,0O0,O on No
vember "a, decline of S12,0Oo,O0O
from week earlier and S71 100000
below year ago. the Federal Re-
serve Board reported. Holdings of
Government obligations totaled S37,-
377,000, 900, drop of S480,000,000
from week earlier, but s12, 1876 OOO,-
900 above year ago. Compared
with week earlier, Government de-
posits were down 739,000,000 while
demand deposits adjusted were up
s552 100000.
Central States Electric Corp. trus-
tees won approval OF United States
District Court ct Richmond for their
recommendation that no suits be
brought against former officers and
directors of the utility. Judge Rob-
ert N. Pollard denied a preferred
stockholders petition asking fur
ther investigation and cleared the
way for submission Of a reorganiza-
ton plan.
United Aircraft Corp. elected 40
year-old H. Mansfield Horner p1esi-
dent to succeed Eugene E. Wilson,
who resigned TO devote full time to
his duties as vice chairman. NJ.
Horner is former vice president in
cborca of mo r,,fo ct,,ri,r opj Uo,,
eral manager of the Pratt e. Whit
ney aircraft division
Pennsylvania Electric Co. cumu-
lative preferred stock, A. series B,
500 par value. will be offered to the
public at a price of Sl08,75 share
plus accrued dividends by Mellon
Securities Corp. and First Boston
Corp. The 3,032 shares were not
taken up by holders of the SIC
series A preferred stock under the
company's recent exchange plan
Crude Oil Production in the week
ended November 27 averaged A.
406 $50 a day, decline of 7.710
barrels daily from the preceding
week, the Oil g. Gas Journal report
ed. California and Kansas outputs
showed largest declines. Texas and
Michigan outputs increased mod
erately.
A Deflation Of Consumer Buying
Power after the war as a result Of
the wholesale release of war work.
ers" is predicted by Col. Willard
Chevalier. although he points out
that huge savings will have piled
up. In an address before the Amer
ican Society of Mechanical Engi-
neers, he said the task of finding
jobs for 100000 demobilized SOL
diers and 100000 released war
workers takes the definition of
postwar prosperity out of the realm
of mere generalities.
Greyhound Corp, parent company
OF the Greyhound Bus Lines, an
nounced it had acquired from the
Union Pacific Railroad substantial
minority interests in Interstate
Transit Lines and Union Pacific
Stages. both of Omaha. Operations
will be conducted under the name
Overland Greyhound" but there
will be no change in either manage
ment.
Central Power & Light Co.
awarded $25,Oo000O of first mort
gage 3lsoo bonds, due 1878, at COM
petitive bidding to a banking group
headed by Halsey, Stuart e. Co.
Reotfering of the issue to the public
was expected soon at 991l2 60 to yield
3159o. Proceeds will be used to re-
tire an equal amount of bonds bear
ing 80. co interest.
Standard Oil Co. of Ohio an
nounced it is constructing an So
100000 aviation gasoline plant at its
No. l refinery in Cleveland. The
new plant is expected to be COM
pleted next spring.
United Biscuit Co. of America
earned $903,O68 or sl.73 share in
nine months ended September 30,
compared with $804066 or $1.52
share in the same 1912 period.
Duquesne Light Co. earned $1O,-
773,060 or $436 share in II months
ended September 80, compared with
SIC, 1890, ,606 or $4.39 a share in the
preceding year.
Crown Zellerbach Corp. earned
$1,928,181 or Sc cents a share in
three months ended October 81.
compared with $1,79o,9O1 or so cents
share year ago. Net for six
months ended the same date was
S3,767 1888 or S108 a share against
S3,594,043 or 81 share year ago.
Rayonier, Inc, earned 1891 ,8O3 or
% cents a share in six months |
ended October 81, compared with
81 ,078 ,298 or Al cents a share in the
same period last year.
Radium Keith Orpheum Corp.
earned $5,0O8,074 or $1.55 a share
in 80 weeks ended October 2, COM
pared with net loss of $389,853 in
the same period last year.
Hercules Motor Corp. earned
1914, ,288 or $1.01 a share in the Sep
tember quarter, compared with
S437 1925 or $1.41 a share a year ago.
Atchison, Topeka G. Santa Fe
Railway declared dividend of 81 SO
a share on the common, payable
March l to holders of record Janu-
ary %. Similar amounts were paid
in previous quarters.
Allied Chemical e. Dye Corp. an
nounced no year end extra dividend
would be declared on capital stock
this year. Directors voted the usual
quarterly dividend of $1.5O a share,
payable December 20 to holders of
record December 10. At the end Of