Evening star., 1943-09-17
Business Briefs

Money In Circulation on Sentem.
Der IS totaled $1a, TIA, 900, 900, a gain
OF .$33 1000 from a week earlier
and $685., ,000,000 above a year ago.
the Federal, Reserve Board reported
in its weekly summary of member
banks condition. Member Reserve
balances totaled $13. .729, 900 900. an
increase Of $378, 900 900 in the week
and 1869 900 900 above year ago.
Excess reserves totaled $2.050 900 600.
a gain Of $610, 0,000, 900 in the week.
Bank Deposits Of 1892 insured
institutions increased 33eo in the
last fiscal year while their assets
jumped 800, Chairman Leo T.
Crowley of the FDIC announced. On
June 30, deposits amounted to ss4,.
582 100000 and assets totaled Sl02.-
405 900, 900, both new all-time rec.
ords. Holdings Of Government obI-
cations aggregated $51,542 900 900,
an increase of 1000 from a year
earlier, but loans and discounts stood
at 1892 900 900. a drop Of $751;
000, 900 from June 80, 1912.
Stable Wholesale Prices in the last
week were reflected by the Bureau of
Labor Statistics index, which re-
manned unchanged at 102.8eo of the
1925 average. 1t was 18.4fo above
the same 1887 week and To above
the average for September, 1929.
Sales of Independent Retailers In
August were 30 above the preceding
month and liz above the same
1912 month, the Commerce Depart
ment estimated. Eating and drink
ing places showed the largest gain,
26qe.
Brokers' Loans on securities held
by reporting member banks in New
York City totaled 81, ,397 900 900 Sep
tember Is, compared with S1,027,.
100000 a week earlier and $329,e00,-
600 a year ago, the Reserve Board
announced.
Crude Oil Production of 4,638,0O
barrels a day for October was au-
thorized by Secretary Ickes, acting
as petroleum administrator for war.
The certified total represented an
increase of $500 barrels a day over
the September rate. Rates in East
ern, Midwestern, Rocky Mountain
and Pacific Coast areas were un-
changed or slightly lower, but the
Southwestern allotment was raised
90, 300 barrels day, Texas being all
lowed 10000 of the increase.
National Refining Co. directors
neither confirmed nor denied re-
ports that Otis & Co., Cleveland in
vestment house, had offered to pur-
chase the firm. Otis & Co. said the
deal was under discussion, however.
In the reported offer, common hold
ers would receive So share, prior
preferred holders would receive
about 500 and old preferred holders
about sl55 share.
Denver, Rio Grande & Western
Railroad SO cumulative preferred
stock was suspended from dealings
on the New York Stock Exchange
on receipt of advices that Federal
Judge ]. Foster Symes at Denver
had approved an ICC reorganization
plan which made no provision for
the preferred stock.
Motor Products Corp. earned $685.
723 or 81 90 share in the fiscal year
ended June 30, compared with $751;
903 or $194 a share in the preceding
year. The latest net was after $3,.
365, 900 for renegotiation of con-
tracts, 5000 900 for possible inventory
losses and 100000 for other adjust
ments. In the preceding year, $780,
600 was set aside for inventory adj
justments.
Pullman Co.. sleeping car subsidi-
ary Of Pullman, Inc, reported oper-
ating income Of $550626 in July,
compared with an adjusted income
of $844,458 for the same 1912 month.
Operating income for the first seven
months of 1943 totaled 1888 1893
against an adjusted income of S4,-
542, ,067 in the same 1912 period. >
Atlantic Coast Line Railroad
elected F. B. Lennon director, vice
president and secretary to fin
vacancies caused by the death Of
H. L. Borden. e