Evening star., 1943-10-19
Business Briefs

Business Briefs
Bank Loans in l01 leading cities
totaled S6,318 100000 on October 13,
a gain of s4l,0OO,000 from a week
earlier, but s305 10000 below year
ago, the Federal Reserve Board an
nounced. Holdings Of Government
securities totaled $50, ,696 900 900. an
increase of $483 900 900 from a week
earlier and s14,549, 100000 above a
year ago. Holdings of Treasury bills
increased $374 100000 in the week,
while Federal bond portfolios ex-
panded s110,000,00O Demand de-
posits- adjusted also climbed S420,-
900, 900 in the week.
Manufacturers Shipments reached
a record high of s12,4l9 100000 in
August, the Commerce Department
reported. After adjustment for the
number of working days. the value
was slightly above the previous peak
in February and was go ahead of
July. Business inventories of ST.
800, 100000 were s475 100000 above
July, sharpest gain since March,
1912. Apparently anticipating early
Christmas shopping, retailers ac-
counted for s225 900 900 of the in
crease.
Thompson Products, Inc. will call
on its prior preference and common
STOCK holders soon to authorize
new class Of preferred stock of s4.-
100000 par value. President Fred
erlck c. Crawford said the firm is
looking ahead to postwar financing
needs. Discussions are now in prog
ress with Smith, Barney g. Co. and
McDonald-Collidge & Co., who are
expected to head the underwriting
group.
General Mills has purchased the
American Crystal Sugar Co. plant
IN Belmond. Iowa, for conversion
into a soybean processing plant.
Chairman James F. Bell of Gen
eral Mills said wartime necessity
for added soybean producing capac-
lty to meet protein and oil shortages
prompted his company's entrance
into the begetable oil field.
Illinois Central Railroad and the
investment bankinfi rm of Halsey,
Stuart g. Co. finally got together on
the price of a new issue of SIS
600 equipment trust certificates of
the road. Halsey, Stuarts lone bid
OF 98.05l7 as 2l2s was rejected in Au-
gust, but its bid of 983373 as 2l2s
was accepted today.
Safeway Stores reported sales in
four weeks ended October 9 totaled
SAT 057 1863 against S47,77O,O49 in the
IKE 1912 period, decline of l.499e.
For 40 weeks ended the same date,
sales totaled S450,285, ,246 against
s462 ,234911 in the corresponding pc
rlod last year, drop of 2.59T.
Sutherland Paper Co. earned s544.-
$40 or $l.89 share in nine months
ended September 80, compared with
s462 1903 or sl6l a share in the same
1912 months.
Z. 1. du POnt de Nemours e. Co.
earned s3.49 common share in nine
months ended September 30. COM
pared with revised net of 1881
share in the same 1912 period.
Howe Sound Co. earned s3O2.486
or IS cents share in the September
quarter. compared with S349 $40 or
10 cents a share year ago. Net
tor nine months was s2.32 a share
against S264 a share in the same
1912 period.
General Cigar Co. earned 1862 .681
or SLAB share in nine months
ended September 30 compared with
$990, l09 or ST SIS share in the same
1912 period.
American Brake Shoe Co, earned
$723,188 or II cents a share in nine
months ended September 80, COM
pared with s752,O79 or 81 cents a
share a year ago. Net for nine
months was equal to s2O8 a share
against S2.l0 share a year ago.
Acme Steel Co. earned S483. .9O2 or
$l.47 a share in the September quar-
ter, compared with $354,46O or s1,08
snare In the same period last year
Iri-Continental Corp. reported
net assets as of September 30 we're
equal to $l79.26 a preferred share
and S4.61 a common share. COM
pared with $104.72 and q cents, re-
spectlvely, on September 30. 1912.
Pacific Mills earned s1,335. 800 or
$337 share in nine months ended
October 2, compared with $1,172,OO0
or $296 share in the same 1912
period.
Santa Fe Railroad reported net
income for the first eight months of
1943 was $34, ,939 1868 or s1269 a share
compared with s36, 6,7oe, 1896 or s13.42
share year ago.
Pennsylvania Railroad reported
eight months net was s42,7O9 O4O or
1924 share against a revised net
OF 49,715,568 or s3.77 a share a
year ago.
Atlantic Coast Line reported net
Tor the eight months was s11,64s ,06o
or sl4.14 a share against s12, 1865 ,653
or s15.37 share a year ago.
Reading Co. net income for the
eight months was $7,853,377 or $4.28l
share against $8,636,512 or s4.84 a
share in the same 1912 period.
Baltimore & Ohio Railroad re-
ported cash balance of $37,922.278
on August 81, compared with s29,-
SAT, 1852 a year ago. Current assets
were placed at $117,010O O63, COM
pared with $77,5l8,275 a year ago.
Libbey Owens-Ford Glass Co. an