Evening star., 1943-09-28
Business Briefs

Business Briefs
Bank Loans for commerce, indus
try and agriculture in l0I leading
cities totaled $6,132 ,000, 900 on Sep
tember 22, a gain Of S140, ,O00, 900
from week earlier. but $444, 900 900
below year ago, the Federal Re-
serve Board reported. Holdings Of
Government obligations amounted
to $35 5,947 900 900. an increase of
1858 100000 over a week earlier and
s14,54s, 100000 above year ago.
Opposed to Another Land Boom,
A. G. Black, governor of the Farm
Credit Administration, said Federal
Land Banks ARE not going to per-
NIT their loan values to spiral up-
ward toward imitation"
Adjustment Of Corn Price Cell
ings Is favored by p. r. OBrien.
president OF the Chicago Board of
Trade, who told the grain and feed
dealers, in convention at st. Louis,
that price maximums have cur
tailed gathering of needed supplies
and constitute q serious threat to
our war effort"
Business Failures in the week
ended September 23 totaled 80, COM
pared with 80 in the preceding week
and 149 in the corresponding l942
week, Dun & Bradstreet, Inc, re-
ported.
Higher Wholesale Commodity
Prices in the weeR-ended September
Is were reflected by the Fertilizer
Association index, which rose to
1859, compared with 1853 a week
earlier, 1853 month ago and 1900
a year ago.
Revival Of the Gold Standard to
facilitate currency sterilization and
world trade recovery after the war
was proposed by the Guaranty Trust
Co. in its monthly review.
Postwar Transportation Problems
will be discussed by Rear Admiral
Emory S. Land. chairman OF the
Maritime Commission; President w
A. Patterson OF United Air Lines and
President F. E. Williamson of the
New York Central Roaflroad on the
For This We Fight" program over
the NBC network from 7 to 7:3C
pm. Saturday.
Proposed Merger Of Indiana Hy.
dro-E Electric Co. into Northern In
diana Public Service Co. will be con-
sidered by the SEC at consolidated
hearing October Is. Applications
for the merger have been filed BY
trustees of Midland United Co. anc
Midland Utilities Co.
Globe -Wernicke Co. registered
with the SEC $650,O00 principa
amount Of 4A% first mortgag,
bonds due 1858. Proceeds will b.
used to call in $651,100 principa
amount of go first mortgage sink.
ing funds bonds, due October /, 1914
for payment on January /, 1874.
Central Power & Light Co., sub.
sidiary of Middle West Corp, asket
the SEC to approve proposed issu.
ance and sale of SIS, ,000, 900 principa
amount Of first mortgage bonds du.
1878. Proceeds together with treas.
ury funds would be devoted to re.
demption of an equal amount o.
series A first mortgage bonds, 3N 20
due 1869.
Bcndix Aviation Corp. reported
its New Jersey foundries in Au
gust turned out as large a volum,
Of magnesium castings as its en-
tire output Of all metal castings to
all of 1899. -
May Department Stores Co. earnet
$2,065,9 1886 or $167 share in 81,
months ended July 81, compare,
with $l.842,188 or $1.49 a share II
the same 1912 period. y
Norfolk & Western Railway c.
reported August net income of 81,
830,825, compared with $1,507, 80
in August, 1912. Net for the mrs
eight months of this year wa
$14,311 ,624 against $12,290, IT'S yea
ago.
Chicago, Burlington & Quincy re
ported net income for eight month
totaled $25, ,997 1853 or $15.22 a capita
share, compared with $11,864, ,l66 o
1894 share in the same 1874
period.
Chicago, Milwaukee, st. Paul
Pacific reported August net incom
of $2,597,262 against $1,056,S9
year ago. Net for eight months wa
$22 2,186.812 against $4,170,570 a yea
ago.
Cincinnati, New Orleans & Texa
Pacific reported August net incom
of $615,560 against $453,82o a yea
ago.
National Refining Co. received al
increase of $1,660,000 in its contrac
authorization from Defense Plan
Corp. for additional facilities at
Kansas plant. This brings the over
all commitment of the Fedora
agency to $4,800,OOO.
BURY Biscuit Corp. announced it
entry into the flour mixes busines
with the purchase of Simple Simon
Food Products of Detroit. Burr,
has plants at Elizabeth, N. j., ant
Chicago.
Boston Stock Exchange elected
Stearns Poor president. He hae
been acting president since June 3
succeeding Archibald r. Giroux
who resigned to enter militar,