Evening star., 1943-09-30
Business Briefs
Bank Clearinrs in q leading 6

week ended yesterday compared
with $10,825, ,288, 900 in the preceding
week, but remained 1857 above
$7,834, ,443,000 in the like 1912 period,
Dun & Bradstreet, Inc, reported.
Important city gains over a year
ago: Omaha, 40.3%; Dallas, 39.1%;
Houston, $685.; Minneapolis, 36.2%;
Richmond, 30.3%; st. Louis, 1897;
Cincinnati. 272%.
Freight Loading in the week
ended September Is totaled 9O7,3l1
cars, a gain Of so over the preced-
Ing week and 1.1% above the like
1912 week, the Association of Amer
ican Railroads disclosed.
Gasoline Stocks dropped to TO-
024, 1000 barrels on September Is,
compared with 71,299,000 a week
earlier and 78,474,0oo a year ago,
the American Petroleum Institute
announced. The index of Eastern
Seaboard civilian supplies of gaso-
line and fuel oils rose to 1870 of
normal, compared with 1850 a week
earlier and $3.50 a year ago.
Average Hourly Earnings in in
dustry rose to new peak in July;
but average weekly earnings, total
man-hours and total payrolls de-
clined from the previous month,
the National Industrial Conference
Board found. The hourly average
increased 80 in the month to $1.019.
The weekly average of $46.10 was
down 10 because the decline in
hours was greater than the rise in
hourly earnings.
Checking Accounts of individuals
represent about $3.50 of the nations
total Of $56,00o, ,000, 900, the Federal
Reserve Board estimated, and added
that the percentage was lower than
it had expected. Businesses held
about 70Ro of the total, with the
remainder in accounts of nom
profit associations and foreign busi-
.nesses and individuals.
P. Lorillard Co. filed with the
SEC an amendment setting at 80
the interest rate on its $40 ,O00 900
principal amount of 20-year de-.
bentures, due 1868. Lehman Broth
ers and Smith, Barney q Co. headed
a list of Sc underwriters.
New York Central Railroad stock
holders voted to purchase shares of
minority interests and thus obtain
full control of the New York g.
Harlem Railroad. The action was
taken to reduce Federal taxes and
annual dividend rentals paid to the
N. Y. 81 H., which has been op-
Grated by the Central under lease
Bendix Aviation Corp. reported
production of aviation products in
the first nine months of the cur
rent fiscal year was nearly so times
greater than its 1888 output. Total
net sales in the nine months were
284 times 1888 sales. Untitled or
ders on June 80 totaled $1,042,-
431 900.
Wick Chemical Co. earned $2,264,-
889 or 1892 share in the fiscal year
ended June 80, compared with ST.
211 ,430 or $3.25 share in the pre-
ceding year.
Mueller Brass Co. earned 1903 ,608
or $1.14 a share in three months
ended August 81, compared with
$118,386 or As cents a share Ia the
same 1912 period.
w. T. Grant Co. earned 81, ,099, ,032
or 78 cents a share in six months
ended July 81, compared with $685.
931 or SO cents a share in the same
1912 period.
Pacific Telephone & Telegraph Co.
earned $5,604,000 or $178 share in
the third quarter, with September
results estimated, compared with S.
068, ,406 or 156 a share in the same
1912 period. Including the Septem-
ber estimate, net for IL months end
ed September 80 totaled $21 OPT 900
or 1854 share against $19,923, ,568
or $500 a share in the preceding IL
months.
Illinois Iowa Power Co. was au-
thorized by the SEC to devote to
redemption of mortgage bonds the
SIS, 100000 proceeds from sale of its
interests in Des Moines Electric
Light Co. and Iowa Power g. Light
Co. to Continental Gas g. Electric
Co. Series B 5h % first and refunding
mortgage bonds, due 1854, and sub
ject to call at 1857 upon so days
notice prior to December l, 1943,
will be redeemed in the aggregate
amount of Sl5,827.O00