Evening star., 1943-11-24
Business Briefs
Higher Average Earnings comnar,

with a year ago were shown by 1856
companies listed on the New York
Stock Exchange /" the first nine
months Of this year, the exchange
reported. The average gain was
! 11.49o. Gains in various industrial
groups: amusement, 609S; automo-
tive. 1867: chemical, i0.42o: elec-
trical equipment, 1925: food, 1919;
machinery and metal, 59%; paper
and publishing, 82G: petroleum,
&.5%: railroad, 216%: retail mer-
chandising. 1882 textile, 9.lqo; pub
lie utilities, 80. Industries showing
declined included: building, s.6ss;
business and Office equipment, 0.9%:
finance, 7.4%; mining, 8.4%; steel,
iron and coke, 0.6%.
Electric Power Production set a
new record of 4,513,2 200 900 kilowatt
hours in the week ended November
20, compared with 4,482 ,665 900 in
the preceding week, and was 1881
above SITS, 900 in the corre-
spending 1912 week. the Edison Elec-
trio Institute disclosed.
Longest Work Week Since NAV
1880 was recorded in September. ac-
cording to the Industrial Conference
Board. which also reported work
ers' earnings. employment, man
hours worked and payrolls all
reached new peaks. Average earn
ings per hour were $1.035, up 1.5%
from the preceding month and 8.2%
above a year ago. Average earn
ings per week were $47.16, UP 29s
from the preceding month and 1887
above a year ago.
Engineering Construction Awards
this four-day week Appropriated
$36, 6,523 900, compared with $6S $751;
600 in the preceding full period and
$6S. .928, 900 In the Thanksgiving week
Of last year, the Engineering News
Record announced.
Dow Chemical Co. $4 cumulative
preferred stock. series A, was offered
publicly at SOS q share by an un-
derwriting group headed by Smith,
Barney & Co. The 196, ,126 shares
represented the remainder of an
original 249,741 shares offered to
common stockholders.
Allied Mills, Inc, plan to sell its
subsidiary. Century Distilling Co.,
to National Distillers Products Corp.
is opposed by Harry G. Atwood of
Peoria, Ill.,, stockholder and son of
the founder Of Allied Mills. Con-
tending the sale price OF 81, ,00O, 600
does not represent more than half
OF the true value of Century, Mr..
Atwood is soliciting proxies to block
the sale at q stockholders meeting
December 8.
Industrial Rayon Corp. announced
plans to spend more than $500 900
for expansion of plants at Cleveland
and Painesville, Ohio, to increase
production of rayon for auto tires.
Westinghouse Electric & Mfg.
Co. delivered more equipment for
the fighting fronts and war indus
tries in October than in any other
month in its history. Sales billed
totaled $63,1l3,578, q gain of 80
over August, previous high month.
The backlog Of untitled orders on
October 81 totaled $976, ,10l .O4O
against $3.50 ,528,64 year ago. Net
income for nine months ended Sep
tember 80 was 81. .491 sos, after pro-
vision for renegotiation, compared
with a revised net of $1f,376, ,2l7 in
the same 1912 period.
Montgomery Ward & Co. earned
$6,417,762 or $1.16 a share In three
months ended October 81, compared
with $6,956,6l2 or $1.27 q share In
the same period last year. Net for
nine months ended the same date
was $13,447,955 or $2.38 a share
against $15,8O4 ,944 or sass q share
in the same 1912 period.
North American Co. proposal to
pay dividend on its common stock
with the $25 par valse common Of
Pacific Gas & Electric Co. was ap-
proved by the SEC. One share Of
Pacific stock will be paid on each
100 shares of North American.
Marshall Field & Co. declared a
year-end dividend of 20 cents a COM
mon share, payable December is
to holders of record December 3.
Quarterly dividends of $50 on both
series of preferred stocks also were
declared, payable December 81 to
holders Of record December is.