Evening star., 1943-12-10
Business Briefs
Money in circulation on Decent

/ - l
Money in circulation on December
8 set new record of $40, 0,135, 900 900, a
gain of $195, 900 900 from a week ear
lier and $5,149, 600, 900 above a year
ago, the Federal Reserve Board re-
ported in its weekly summary OF
member banks condition. Member
reserve balances totaled $12, ,569 ,00O.-
600, gain of $1,000, 900 from a week
earlier, but $685., 900 900 below a year
ago. Excess reserves totaled $780,
000, 900, drop of $4,000, 900 from
a week earlier.
Department Store Sales in the
week ended December were 71o
above the like 1912 week, while VOL
umes for four weeks ended the same
date were 1871 above year ago,
the Reserve Board also disclosed.
Higher Wholesale Prices in the
last week were reflected by the Bu-
reau Of Labor Statistics index,
which rose to 102.8H of the 1916
average, a gain Of 2Ts above the
preceding week, 2.71t above a year
ago. 25.4%s above the like 1887 week
and 1920 above the average for
December, 1929. The advance was
led by higher prices for livestock,
hides and coal.
BituminOus Coal Production in the
week ended December approx
mated 12,600, 900 net tons, compared
with 12,450,000 in the preceding
week and was 11.2rs above II ,33l 900
in the like 1912 week, the National
Coal Association estimated. Produc-
ton for the year to date approx
mated SAL 100000 against 539, ,68l 900
in the same period last year.
T Utah Power g. Light Co. first
mortgage bonds amounting to $42,-
600, 900 will be offered to the public
at l00.6259o with coupon rate of
3A %, it was announced after the
SEC approved award of the issue to
a syndicate headed by First Boston
Corp. on bid of 991717qe.
Funds for Expansion and postwar
conversion will be provided by three
large VT loans announced by the
Federal Reserve Bank Of Cleveland.
The credit agreements included S3O,-
600 900 for Crosley Corp, $40, 600, 900
for National Supply Co. and $14,-
10000 for an undisclosed Arm
Matthew J, Fleming, president OF the
bank. said the loans will offer
valuable protection to the companies
but added that this does not mean
they will Immediately borrow this
amount, or that they shall ever be
required to do So"
United Air Lines filed with the
SEC registration statement cover
ing proposals to authorize 200 .0OC
shares Of 412To cumulative 500 pa,
value preferred stock, convertible
prior to January l, 1854; to increase
authorized common stock from
1000 900 to 2,500,O00 and increase its
par value from IS to $40; also tc
authorize 100000 shares of manage.
ment stock. Stockholders will vote
December % on the program, which
is expected to raise more than s10,.
100000 for postwar developments.
Twentieth Century Fox Corp
earned s7,187,098 or s3.49 a share
in 80 weeks ended September IS
compared with s7.256 0O3 or s3.57 q
share in the corresponding 1874.
period.
Middle West Corp. and subsid
iaries, exclusive OF Central Illinoi!
Public Service Co., earned s1,150, 40,
I or 35 cents share in three months
ended September 30. compared with
revised net Of 81 ,079 904 or 80 cent
share a year ago. Net for min
months ended the same date wa
So OCT 1923 or SO cents shar
against a revised profit of $2,666, 10
or 80 cents share in the sam
1912 period.
American Locomotive Co. de
clare da dividend Of so cents
share on the common. first sine
September, 1881, and payable De
cember % to holders of record De
cember 20, The payment will ap.
ply to those, who became holder.
OF common through surrender O.
certlncates representing preferred
outstanding before consolidation O.
OF subsidiaries.
Midland Steel Products Co. de.
clared a dividend OF so cents 8
common share. payable December
2S to holders Of record December 20
Payments for 1943 will total 81
same as last year.
Dewey e. Almy Chemical Corn
declared a 2ec stock dividend or
common shares. equal to one shar.
Tor every fifty now outstanding
payable December "a to holders O,
record December 13. The stool
distribution will be in addition tc
cash payments of 81 share thl
year.
Glenn L. Martin Co. has com.
pleted renegotiation of 1912 con.
tracts and found no refunds to the
Government would be required
President Glenn L. Martin saic
operations this year were approx.
mately double the 1912 rate anc
would be intensified greatly mex,
year"
Sears, Roebuck e. Co. at the enc
OF the year will merge Henry Rose
Stores. Inc. operator of women.
ready-to-wear and millinery de.
partments in Sears stores. The
Sears affiliate, founded Is years ago
will become wholly owned subsid-
iary, but will continue to function
as separate unit.
Florida Power e. Light Co. and its
parent, American Power & Light
Co., filed with the SEC Joint appli.
cations amending Floridas l94l re.
financing plan. Under the amend.
ments, $4,000, 900 principal amour,
OF new securities would be sold O,
exchanged to retire all of Florida g