Evening star., 1943-05-25
Business Briefs

'ieics de1lIleu 3LU.UUU,uUU IN Jne last
week and stood at S5545 900 900 on
Wednesday, the Federal Reserve
Board reported. They were sl,O68,-
O0O 900 below year ago. Demand
deposits In the latest week increased
S6Ol 100000 while United States
Government deposits declined s481 :
100000. Holding of Treasury bills
increased s240ooO,OOo.
Standard Oil Co. of Louisiana has
put into operation at Baton Rouge
| a fifth plant to manufacture buta-
dlene, one Of two principal ingredi-
ents of Buna S rubber. The new
plants rated capacity of $4,000 tons
year is about equal to the COM
blned capacity of the four other
plants already operating at Baton
Rouge.
Cocoa Imports so far this year
were boosted to l60O651 bags bv
the arrival of 1853 900 more bags
yesterday, Dow. Jones & Co. re-
ported. The total already exceeds
l,o93s68 bags for all of last year,
but the new agency declared the
import increase does not mean more
for civilians because demand for the
armed services is heavy.
Business Failures in the week
ended May 20 totaled At, new
l943 low. which compared with II
IN the previous week and 23O wear
ago, Dun & Bradstreet reported.
Unsatisfactory Price Ceilings and
a lack of labor will help to crea te
a lumber shortage of four billion
feet in l943, predicted R. E. Brod-
erick, secretary of the Northeastern
Lumber Manufacturers Association
at Albany.
American Airlines. Inc, earned
S534,773 in the first l943 quarter,
compared with s349 1872 year ago.
President A. N. Kemp announced
that substantial fare reductions will
take effect in July. Express rates
also are being reduced.
Norfolk & Western Railway Co.,
reported April net income of 81
024,793 or Sl.39 a share, against ST.
497 639 or s10l share year ago.
Net for the first four months of 1943
was $7,262,5 ,526 or s495 share,
against $6, l66. .426 or SALT a share a
year ago. Directors reelected all
officers
Chesapeake & Ohio Railway an
nounced award of S2,75O,OOO con-
tract for 10 new Mallet-type freight
locomotives to the Lima Locomotive
Works, with delivery scheduled to
begin in the first 1914 quarter.
Valvoline Oil Co. will redeem or
purchase 1,785 outstanding shares
of 500 par preferred stock July |
at S202 a share. Bonds to be
retired November include an issue
Of $l04000 in per cent debentures
at par and accrued interest.
Southeastern Greyhound Lines
earned $419,452, or $158 a share in
the March quarter. compared with
s155,8l6, or 81 cents a share, a year
ago.
Consolidated Cigar Corp. earned
S344 848, or 78 cents a share, on
the "a stock, against s122.782, or
81 cents a share, on the b" stock
a year ago.
WHY'S Overland. Inc, earned ST.
BAT ,949 or 81 cents a share in six
months ended March /, compared
with $666, 1866 or 27 cents share a
year ago. Sales in the same period
totaled $80,674. .401, or 1867 above a
year ago. War production since
initial deliveries started about lS
months ago has exceeded $780,
100000.
New York Telephone Co. wage
increases totaling more than ST.
900 900 for 1858 employees have been
approved by the WLB under the
Little Steel" 1870 cost-of- living
formula. The increases are retro
active to last September 6.
Postal Telegraph, Inc, announced
the resignation of Euery w. Stone
as president. He will go on active
duty as a captain in the Navy and
will be succeeded by w. J. Deegan,
vice president and treasurer.
Loew's, Inc, earned S6.376,228 or
1888 share in % weeks ended
March l8. against $5,292,541 or 1921
a share year ago.
Fruehauf Trailer Co. earned $445.-
1868 or $l.0l share in the March
quarter, compared with $4OO, ,5l9.O9
or 80 cents share a year ago
the company estimated. Sales to-
tailed $l5,475,501, against s6,633, ,20s
a year ago.
Kansas City Southern Railway re-
ported net income of $1,799 1888 or
$298 share in four months ended
April 30, compared with 1927 ,922
or $1.84 share a year ago.
Don't Ride on Our Trains this
summer unless you conscientiously
believe your trip is necessary, de-
clared President Ernest E. Norris
of the Southern Railway in a prece-
dent-shattering statement. "Our
passenger facilities this summer
will undoubtedly be strained to the