Evening star., 1943-12-01
Business Briefs

Business Briefs
Electric Power Production de-
clined to 4,403 ,342 900 kilowatt hours
in the week ended November q,
compared with the previous weeks
record of 4,513 ,299 900, but was 1897
above 3,766, 1881 900 in the like 1912
week, the Edison Electric Institute
reported. Regional gains over a
year ago: Pacific Coast, 1867; New
England, 5.3%o; Mid-Atlantic, 1917;
Central Industrial, 115%; West
Central, 72es; South, 1857; Rocky
Mountain, 1897.
More Pork for Civilians is in view,
according to the American Meat
Institute, which said an all-time
peak was reached in hog slaughter
ing last month. 1t estimated pork
production for November was 39cc
above the preceding month and 35Cc
above a year ago. The War Meat
Board reported total meat produc-
ton in the holiday week ended
November 27 declined to $4,000 900
pounds, drop of 100000 from
the preceding week, with all classes
of animals showing declines.
Early Christmas Shopping was re-
f1ected by an increase of nearly
s95 900 900 in consumer credit out
standing in October, the Federal
Reserve Board announced. The rise
lifted the total to s4,956, 900 900, a
decline Of 81 ,447 900 900 from a year
ago.
Chesapeake e. Potomac Telephone
Co. Of Virginia was authorized by
the State Corporation Commission at
Richmond to transfer 10000 shares
of common capital stock, with par
value of s100 share, to the Ameri-
can Telephone & Telegraph Co. on
or before December 81. Cash in
volved in the transfer would aggre-
gate s5,000000.
Northwest Airlines, Inc, stock
holders approved a proposal to in
crease the authorized capital stock
from 0,000 to 100000 shares.
Cities Service Power g. Light Co.
was granted an SEC extension until
December 80 to complete the OPEN
market expenditure of not more
than sl,000,000 to retire its 5l2%
debentures, due 1949 and 1852.
Granted three months on September
l, the company by November ! had
reacquired $704,000 of the deben-
lures for s700,106 and requested
another three months to spend the
remaining S299694.
p. r. Mallory & CO.. Inc, regis
tered with the SEC $4,000 shares of
4l2cc S25 par value cumulative con-
vertible preferred stock and a like
number of no-par-value common
shares. The common will be re-
served for Issuance only upon con-
version of the preferred. Lee Hig-
glnson Corp. will be the principal
underwater. Proceeds from the
preferred issue will be added to the
company's general fund for recon-
version needs.
Central Power g. Light Co. Offer
ing Of s25,000000 3lsco bonds, due
1878, was placed on the market by
a banking group of II firms headed
by Halsey, Stuart & Co. Awarded
to the group at competitive sale
Monday, the bonds were priced to
the public at 99l2 and accrued in
terest, to yield about 315ec. Pro-
ceeds will be used to redeem a like
amount Of 334ec bonds now out
standing
Baltimore & Ohio Railroad asked
for bids on s3o97 900 of equipment
trust certificates, series M, and said
proceeds would be used to purchase
80 Diesel and steam locomotives and
965 hopper cars of 50-ton capacity.
Wick Chemical Co. earned S1,262.-
STA or $l.85 share in the September
quarter, before renegotia alton, COM
pared with sl,335 ,689 or s1.96 a share
in the same 1912 period.
Diamond Match Co. earned S1,549,-
523 or SIPS share in nine months
ended September 80. compared with
$1,5l5,119 or S1.20 az share in the
same period last year.
Spicer Manufacturing Co. earned
1852 $50 or Silt a share, after
provision for renegotiation, in the
year ended August 81, compared with
$3,379,995 or $1056 a share in the
previous IL months.
B. F. Goodrich Co. announced
plans for construction of a new syn
thetic tire manufacturing plant at
Miami, Okla. Cost and capacity of
the new plant were not disclosed.
Wisconsin Central Railroad was
directed by Federal Judge Gunnar
H. Nordbye at Minneapolis to pay two
interest coupons of 90 each on its
$40, 1877 900 40 first general mortgage
bonds December 23 The disburse-
ment will amount to $807 $50.
Pere Marquette Railway will de-
clare no dividends this year, as the
purchasing of its own first mort
gage bonds must, in the judgment
Of the directors, be continued until
the company's credit is re-estab-
lished," declared President Robert
j. Bowman after the board meeting
in Cleveland. He said that since
October, 1912, 8,461, 700 par value,
or 13.11% Of the first mortgage
bonds, principally the 1856 maturi-
ties, have been purchased"
National Supply Co. declared
dividend of So a share on its 50
preference stock on account of ac-
crued dividends, payable December
q to holders of record December 10.
Payment will leave arrearages of !
$3.50 share. Quarterly dividends
also were declared on the 5aTo and
SO prior preferred issues, payable
December q to holders of record
December 10.
Borden Co. declared a final 1913
dividend of go cents common
share, payable December 20 to hold
ers Of record December 7, bringing
the years total, to -$l.50 4 share