Evening star., 1943-11-20
Business Briefs
A Vast Private Credit Pool bac

"A vast private Credit Pool backed
by banks, insurance companies, in
dustry, Government and labor
unions to finance reconversion Of
industry to peacetime work, was
proposed by Henry J. Kaiser, ship
builder and production expert, in
an address before the sales executive
conference of the st. Louis Chamber
of Commerce. He also advocated a
l0% sales tax on all consumer goods
to be applied directly to reduction
of Government debt.
National Refining Co. stock con-
troll has been purchased for approx
mately $1,000 900 by a limited part
|nership, which includes Albert A.
List, president of List Finance Corp.
of Fall River, Mass; Cyrus S. Eaton,
Cleveland financier; Chester Can
ming, president Of Pacific Gas Corp.
ard Petroleum Transportation Co..
and William r. Daley, president of
Otis & Co., Cleveland.
United Gas Corp. refinancing plan
was expected to receive early SEC
attention after the presidents of
Electric Bond & Share Corp. and
Electric Power & Light Corp, parent
and intermediate holding companies,
conferred at Philadelphia with COM
mission officials. Preferred shares
of Electric Power registered sharp
gains in yesterdays exchange trad
ing.
Bethlehem Steel Corp. has taken
out 10,000,0 900 worth of third party
ship repairer's liability insurance, "
type formerly issued only by
Lloyd's, from a combination of 81
American companies. The insur-
ance covers injury or damage to a
third party in the event of an ex-
plosion in a ship being repaired at
a Bethlehem yard.
Krupp-Flaherty Oil Corp. of Ell
Paso, Tex, registered with the SEC
900 shares of no par value COM
mon stock to be offered to the
public at $35 share. Proceeds will
be used in development of New
Mexico Oil properties.
Caterpillar Tractor Co. earned
s704 ,566 in October against s914,755
in october. 1912. Net for 10 months
was S6,653.736 against S5,l90,623 in
the same 1912 period.
Puget Sound Pulp & Timber Co
earned 1884 $50 or SO cents share
in nine months ended September
3O compared with S625 ,041 or SITE
share a year ago. Provision for
Federal taxes totaled s431 1864
against s1635,129 a year ago.
Oklahoma Natural Gas Corp
earned S2.159960 or s285 a share in
twelve months ended September 80
compared with S2.629,472 or $3.50 a
share in the preceding year.
Mission Corp. earned S955,572 or
SO cents share in nine months
ended September 80. compared with
s9O9742 or &c cents share in the
same 1912 months.
Erie Railroad reported net income
of S7,807.787 on a gross of Sl32 ,39l,-
964 in the first ten months OF 1943
compared with a net of Sl2 l30 ,04O
on a gross of s110,906 100 in the same
period last year. In october a net
loss of S293 GIL was recorded with a
gross of S14,207,577, in contrast to
net income of 81 ,439 1913 on S12 1853,
885 in October, 1912.
California Electric Power Co. de-
clared an initial common dividend oi
10 cents a share, payable December
Is to holders of record November 30
An initial dividend of S132 also wa.
declared on the new 5A % con-
vertible preferred stock. payable
January l to holders of record De
cember Is.
Budd Wheel Co. declared a divi
dend of Is cents a common share
payable December 10 to holders O.
record November 80.
! Chicago & Eastern Illinois Rail.
road declared dividend of so cent.
a share on the common stock out o.
1912 earnings, payable December q
| to holders of record December 7
This will be the first common pay
ment in the roads history
Quaker Oats Co. declared a quar-.
terly dividend of Is cents a common
share, payable December "a tt
holders of record December l. Thi.
was a reduction of 25 cents a share
from the quarterly rate which has
been in effect since March, 194l.