Evening star., 1943-08-20
Business Briefs
Serious Production Obstacles

Serious Production Obstacles have
permitted only 1897 of contractors
engaged in the bulk of war work to
achieve capacity operations, accord
ing to the magazine Mill and Fac
tory after survey of $50 manufac-
turers. Manpower shortages were
listed as the major difficulty by
34.6T Of the firms, while 1857
ranked them second. Labor rela-
tions were placed first by 1879 and
second by 24%. Material shortages
were first with 20.3% and second
with~179s.
Money in Circulation on August 18
totaled $18,214,000,000. a gain of
$113 100000 over a week earlier and
s5,258, 10000 above a year ago, re-
ported the Federal Reserve Board in
its weekly summary of member
banks. Excess reserves increased
$90,000,000 in the week to $780,
100000.
Backing the War Financing Drives,
life insurance companies increased
their holdings of Government bonds
by $3.50, 100000 in the first six
months of 1943, the Institute 0f Life
Insurance announced. Since De-
cember. 1941, holdings have in
creased $4,310.00O 900. The total now
stands at $10,930, ,OOO, 900.
Brokers Loans on securities held by
member banks in New York City
totaled 1851 100000 on Wednesday
a gain of $4,000, 900 over a week
earlier, the Federal Reserve Board
revealed. Loans totaled $461, ,000, 900
a year ago.
Lower Wholesale Prices in the last
week were reflected by the Bureau
of Labor Statistics index, which
dropped go to 1O2.7eo of the 1926
average, lowest point in nearly six
months. The latest index was 17.4%
above the corresponding 1887 date
and $50 above the average for
August 1929.
American Airlines will inaugurate
the first transcontinental all-cargo
flights between Los Angeles and New
York tonight. Flights will be oper-
ated daily with stops at Phoenix,
Ell Paso, Forth Worth, Dallas, Mem
phis, Nashville and Washington to
pickup and unload mail and express
only.
Monsanto Chemical Co. earned
$2,869,349 or $195 a share in six
months ended June 30, compared
with an adjusted net of 81 92 share
year ago. The net reported for the
first half of 1912 was $2,133,76 or
$1.37 share. Sales in the first half
OF this year totaled $40,438, ,633
against s33,174,24O year ago.
Allied Mills, Inc, earned $2,028,4 ,446
or S2.53 a share in the fiscal year
ended June 30, compared with
81 ,952 ,629 or $244 a share in the
preceding year.
American Chain e. Cable Co
earned $2,223. .493 or $2.12 share in
six months ended June 30, compared
with $1,402,397 or $127 a share a
year ago. Results are subject to
renegotiation.
Pere Marquette Railway Co. re-
ported July net income of $299,0lO
on gross of $4,743,854, compared
with $328,875 on gross of SO, ,772, 400
in the same 1912 month.
Pan American Petroleum &
Transport Co. earned $685. 1868 in the
June quarter, compared with $467,-
848 in the first 1943 quarter.
Pullman Co. earned S396,537 in
June, compared with S667 ,495 a year
ago. Net for six months was S2,833, =
267 against S3,747,233 in the same
1912 period.
Southern Pacific Railroad directors
voted a dividend of ST a share on
the common stock, payable Septem-
ber "a to holders of record August 81.
Industrialists Will Go Back to
School Monday for a four-day SEM
mar on industrial relations spon-
sored by the NAM at French Lick
Ind. About ITS prominent execu-
tives from 81 States will attend.
World Monetary Proposals will be
discussed by directors and officers of
five Midwestern Federal Reserve
Banks at joint meeting in Chicago
next Thursday. DR.. Simeon D. Le-
land, chairman of the Chicago Re-
serve Bank and head of the depart
ment of economics, University of
Chicago, said the unusual meeting
was suggested by bank officials who
wanted to obtain more information
on the subject
Connecticut Light d Power Co.
will call for redemption on Septem-
Der 81 its outstanding 3heo de-
bentures, due September l, 1856.
The balance to be paid is $6,951 900.
The company has a large amount
of cash and securities on hand and
sees little opportunity to use the
money for extensions and additions
because of labor and maa erial short
ages, President c, o. Campbell said.