Evening star., 1943-10-25
Business Briefs

| | Business Briefs
Higher Living Costs were reported
by the National Industrial Confer
ence Board. September costs in SO
cities were 80 above the previous
month, 4.4Go above a year ago and
1897 above January, 1941. Com
pared with the preceding month,
costs were higher in as cities, lower
| in l6 and unchanged in 7.
New Peaks in Wages. Jobs and
Payrolls during August also were re-
ported by the board. Average hourly
earnings reached $1.021, or 10
above the preceding month, 8.6%
above a year ago, and 345oo above
January, 1941. base month for the
Little Steel Formula The weekly
average was S462l, a gain of .2co
from the previous month. 1917
above year ago and 510e6 above
January, l94l. August employment
was 10 above the preceding month
and 1877 above year ago. PayrollS
were 30 above the previous month
and 22Go above year ago.
Phillips Petroleum Co. announced
that more than 95cs of the 1888 900
of convertible l.. debentures called
for redemption October 18 had been
converted into common stock of the
company by the time the conversion
privilege expired October Is. In
! conjunction with previous redemp-
tlons on June l and August 3, the
operation reduced the firms long
term debt by $4,000 900. OF the
total redeemed, s19,334 900 was con-
Verted into stock and $3.50 600 re-
deemed for cash. Issuance of 424 0O7
common shares raised the total out
standing to 4916,987.
Illinois-Iowa Power Co.. q subsidi-
ary of North American Co. filed
with the SEC plan for refunding
$50 1853 900 principal amount of its
first and refunding mortgage bonds.
1t asked permission to issue s65 00O.-
900 principal amount of new first
mortgage and collateral trust bonds.
| due 1878, and to borrow between
Sd 100000 and s50Oo,OO0 from banks.
to be evidenced by 2a4 % serial notes.
Ell Paso Electric Co. will not be
sold to the city of El Paso. Voters
defeated proposed revenue bond
issue for that purpose. Ell Paso
Electric shares now will be distrib-
uted to preferred stockholders of
Engineers Public Service Co. of New
York, if the SEC approves.
York Safe & Lock Co. has been
soldto Harry K. Stone of Brockton,
Mass, and Harry and Louis Levine
Of Leominster, Mass, by the Chase
National Bank, trustee for the
Loucks estate. Mr.. Stone was elected
chairman of the board. Other officers
were retained
Union Carbide & Carbon Corp.
learned $9753275 or S1.O5 a share in
| the quarter ended September 80,
compared with s8941,246 or 96 cents
a share in the same period last year.
The latest result was before rene
gotiation.
Merchants & Miners Transporta-
ton Co. earned S122,141 or 65 cents
IA share in the September quarter,
compared with S393,735 or s2.O9 a
share in the same 1912 period.
Pittsburgh Screw & Bolt Corp.
learned S588,537 or 80 cents share
in nine months ended September
80, compared with s80O,135 or So
cents share in the same period
last year.
Budd Wheel Co. earned s1,334,872
or S138 a share in nine months
Iended September 80, compared with
81 ABS 1855 or ST. .54 share a year ago
Sales totaled s36 6,320,224 against $685.
040,542 in the same 1912 period.
Bon Ami Co. earned S777,168 in
nine months ended September 30,
compared with $737,877 a year ago.
Pennsylvania Coal e. Coke Corp.
earned sl28,883 or 78 cents a share
in three months ended September
80, compared with deficit of s68,3l8
in the same 1912 period.
Peoples Gas Light & Coke Co.
earned S2,841 ,484 or S4.33 a share
in nine months ended September 80.
compared with S2,706,526 or s4.13
share in the same period of last
year.
American Writing Paper Corp.
earned S172651 in nine months end
ed September 30, compared with
S212,44 year ago.
Byron Jackson Co. earned $1O2 ,527
or q cents share in the September
quarter, compared with sl65,41O or
43 cents share year ago.
incorporated Investors reported
net assets of $47,214,451 or 1882 a
share on September 30, compared
with s47,846,887 or 1899 a share on
June 30, and $31,115, ,709 or s13.3e a
share on September 3O 1912.
Quarterly Income Shares, Inc,
reported asset value per share of
s7.43 on October IS, compared with
$3.50 on April Is this year and s5.84
share on October Is, 1912.
American International Corp. re-
ported net assets on September 30
were equal to $11.95 a common
share, compared with s6.3e a share
at the end of September last year.
United States g. International Sc
curities Corp. reported net assets on
September 80 had an indicated value
of S31,565,712, equal to approx
mately S132 share of preferred
stock, compared with $24,447,772 or
S1o2 a preferred share on Septem-
Der 30, 1912.
United States g. Foreign Securi-
ties Corp. reported net assets on
September 80 had an indicated value
of $32, 1872, ,462 or approximately $186
a first preferred share, comparen
with $26,064,137 or $151 a first pre-
ferred share on the same 1912 date.
Shares Sold Privately
NEW YORK, Oct. 25 GA block
of 10,500 shares of Adams Express