Evening star., 1943-11-22

Allied Mills and National Distillers
attracting mild bids.
i Business Briefs |
A New Employment Record was
set in September when the total
including men in the armed forces
recahed 64,700,000 persons, a gain
OF 100000 over the preceding month
the National Industrial Conference
Board estimated. Jobs in private
industry, excluding agriculture, con-
tinued to decline and were nearly
100000 below September, 1912.
Improved Living Standards for the
common people is a major goal
adopted by all United Nations in
their postwar planning, a survey by
the Twentieth Century Fund showed
Lewis L. Lorwin, who made the
survey, found that in the United
States, British Commonwealth and
Western Europe, the emphasis is on
full employment" and social Sc
curity," while Russia, Latin Ameri-
can countries, India and China
stress higher living standards.
A Forecast Of $500, 900 Jobs in the
construction industry during the first
IL postwar months was made in a
report to the National Association
OF Manufacturers by it's postwar
committee. The volume of "actually
needed work will probably exceed
SIS, 900 100000, the committee re-
ported.
Allied Mills, Inc, stockholders will
vote December 8 on proposed sale
OF its wholly owned subsidiary, Cen
tury Distilling Co.. to National Dis
tillers Corp. and IA associated dis
trlbutors for approximately SGT OOO,-
000 Principal item in the Century
inventory is 1,490 barrels of
whisky, or about 100000 cases. Net
proceeds after taxes will amount to
about s22 100000, and will be used
by Allied Mills to retire S1,226,66
of long-term Indebtedness, expand
its livestock feed and soybean busi-
ness and other purposes.
Pennsylvania Electric Co. offered
holders of its SIG series A preferred
stock one share of Az series B
preferred stock and 81 in cash for
each share of their holdings. The
offer will expire at noon, November
q, and any unexchanged 5.1%
shares will be redeemed.
Holland Furnace Co. has COM
pleted renegotiation proceedings on
1912 contracts. Earnings for the
year remain unchanged.
Illinois Bankers Life Assurance
Co. will be sold in the chancery
division of the Cook County, Ill,
circuit court December 81. Paul o.
Buckley of NewtoWn, Conn; Brien
Mcmahon of Norwalk and WASH
ington and group of Boston
financiers. who attempted unsuc-
cessfully to negotiate private pur-
chase of the company. indicated
they would bid at the judicial sale.
General Foods Corp. has pur-
chased assets and the business of
Jersey Cereal Co. for IS 900 shares
of common. The Jersey firm has
headquarters in Chicago and plants
at Irwin, Pa, and st. Joseph, Mo.
It's present operations will continue
unchanged.
Cities Service Power g. Light Co.,
in a price amendment which the
SEC is expected to approve, has
offered for public sale it's entire
interest in Public Service Co. of
Colorado, 875, 900 shares of $40 par
value common stock at $25 a share.
Underwriters will be headed by First
Boston Corp. and Boettcher 81 Co.,
and Bosworth, Chanute Loughridge
g. Co. of Denver. The underwriters
spread will be s16212. Proceeds will
be applied to partial retirement of
Cities Service debentures, due 1949
and 1852, at prices not to exceed
principal amount. If the SEC ap-
proves, the offering will be placed
on the market tomorrow.
Pan-American Petroleum g. Trans
port Co. earned $3.50, ,226, or IA cents
a share, in the September quarter,
compared with $2,180,119, or 46 cents
a share, in the same 1912 period.
Gaylord Container Corp. earned
SITS 1895, or SLOT a share, in nine
months ended September 30, COM
pared with $S43,9ss( or $l19 a share,
in the same period last year.
Transcontinental e. Western Air
earned $685. 1886 or $1.34 a share in
nine months ended September 30,
compared with a revised net of ST.
338,817 or $141 a share in the same
1912 period.
Walgreen Co. earned. So ,269, ,5l9 or
1920 a share in the fiscal year
ended September 80, compared with
So, ,361 1863 or $2.27 a share in the
preceding year.
Pet Milk Co. earned $446 ,206 or
"a cents a share in the September
quarter, compared with $442,457 or
SO cents share In the same 1912
period.
F. L. Jacobs Co. earned $3032,3ll
or $4.76 share in the fiscal year
ended July 81, compared with $571,- =
922 or 80 cents a share In the pre-
vious fiscal year.
American Investment Co. of ILL
nois earned $716,061 or 46 cents a
share in nine months ended Sep
tember 80, compared with $817,319 or
Sc cents share in the some 1912
period.
Superior Oil Co. earned $4,249, ,258
or $10.05 share in IL months ended
August 81, compared with $4,512, ,798
or s10.67 a share in the previous
year.
United Air Lines announced Jo-
seph P. Ripley had resigned as a
director because his firm, Harri-
man, Ripley g. Co., Inc, is to act
as bankers for United in connec-
ton with the company's forthcom-
ing financing. Under the terms of
the Civil Aeronautics Act, it was i'm
possible for Mr.. Ripley to continue