Evening star., 1943-11-13
Business Briefs
MONEY I'm Circulation on \

Money in Circulation on November
10 totaled Sl9.514,00 900, q gain Of
$3.50, ,000, 900 from a week earlier and
s., ,106 900 900 above a year ago, the
Federal Reserve Board disclosed in
its weekly summary Of member
banks condition. Member reserve
balances amounted to $12, 1893 900, 900,
an increase of $l29 900, 900 from a
week earlier, but $295 900 900 below
a year ago. Excess reserves totaled
81 ,080. 900 900, unchanged from q
week earlier.
Department Store Sales in the
week ended November were 1917
above year ago, while those for
four weeks ended the same date were
11% above the corresponding 1912
period, the Reserve Board also re-
ported.
Lower Wholesale Prices in the
week ended yesterday were reflected
by the Associated Press index Of IS
staples, which declined to 1862 from
106.30 a week earlier and compared
with 100.88 a year ago.
A Fight Over Freight Revenues
divided between Eastern and South
western railroads brought the filing
OF suit in Federal Court at st.
Louis by the Missouri Pacific, Frisco
and Cotton Belt Railroads against
the Baltimore & Ohio, New York
Central and Pennsylvania lines.
Counsel for the complainants said
their purpose was to require the
Eastern cal lriers to bear their pro-
portionate share of reduced Joint
rates on Government shipments.
Carnegie Illinois Steel Corp. an
nounced workers at company plants
established 81 new monthly pro-
ductive records in October. Includ-
ed was a worlds record monthly
production OF 2,033,933 net tons of
ingots and castings. Blast furnaces
at Clarion, Homestead and South
Chicago, as well as open hearts at
Farrell, Homestead, Duquesne, South
Chicago and Gary set new marks.
aluminium Co. Of America stock
holders unanimously approved a
three-for-one splitup In common
stock and absorption by merger of
a partially-owned subsidiary, Alum
mum Manufacturers, Inc.
Sterling Drug, Inc, earned S.
654,593 or 1923 share in nine
months ended September 30, COM
pared with $5,077,087 or $3.50 a
share in the same 1912 period.
Jones e. Laughlin Steel Corp. de-
clared dividend of so cents a COM
mon share, payable January 6 to
holders of record December 3. A
previous dividend of so cents was
paid October 6. Declarations for
the year total 50 against $3.50 in
1912.
Central Vermont Public Service
Co. registered with the SEC 197,954
shares Of no par value common
stock, of which $4,000 will be Of
fered for public sales following COM
petitive bidding by underwriters.
Prior to delivery of securities, Twin
State Gas & Electric Co. will sell
its properties in New Hampshire
and Maine to the Public Service Co.
of New Hampshire and then merge
with Central Vermont.
BURY Biscuit Corp. stockholders
will consider recapitalization plan
at a special meeting November %
at Elizabeth. N. J. The plan pro-
vides for elimination of dividend
accumulations of $3.50 a share on
the $50 par SO cumulative preferred
through an exchange of stock on
the basis of five shares of new $3.50
par SO convertible prior preferred
for each share Of present preferred
Middle West Corp. proposal to sell
l3.687l2 shares of Missouri Gas &
Electric Service Co. common tc
Ralph j. Green of Warrensburg
Mo. for 1857, 400 will be considered
by the SEC at a hearing Novem-
Der 30.
Columbia Gas & Electric Co.
elected Stuart M. Crocker president
to succeed Edward Reynolds. who
retired to devote his full time to his
work as head Of the supply division,
Office of the Surgeon General of the
Army. Mr.. Crocker is a former vice
president OF General Electric Co.
Slaughter of Lambs and Sheep in
October set new all-time monthly
record, the Bureau of Agricultural
Economics reported. No figures were
given. Conditions on November |
indicated a sharp reduction from
last year In the number of lambs
and sheep to be fed in the present
season.