Evening star., 1943-10-17
Business Briefs


A Slight Lag In Business Activity
was reflected in the last week by
the index Of the magazine Business
Week, which slipped one point to
2115, compared with 2l1.6 in the
week, 2l2.4 a month ago,
203.7 six months ago and 1882 Q
year ago.
OIL Production Quotas for Novem-
Der totaling 1855, TOO barrels a day
were authorized by the PAW. This
was 5000 a day less than for Oc-
tober. Lower rates for Eastern and
Midwestern States Districts and ~
reflected lower productive capacity,
but they were Offset partially by a.
minor upward adjustment in Cali
fornia.
Civilian Textile Prospects reached
a new low in the last week as it
became apparent there was consid-
cradle difficulty in obtaining full
coverage on Government orders. In
tensive efforts were made in New
York to line up cotton goods such
as twills, sateens, print cloths and
sheetings to meet recent large Gov
ernment invitations.
Newsprint Consumption in the
United States during September to-
tailed 299, ,755 tons, drop of 39oo
from year ago and $50 below
l941, the Newsprint Association of
Canada reported. Consumption in
nine months was 2,751 ,029 tons, a
decline Of 12% from year ago
and 800 below 1941. Consumer
stocks on September 80 totaled 513,-
843 tons, against 688, 1903 a year ago.
Tax Law Simplification will be a
complicated task, but it must be
tackled, said General Counsel RAN
dolph Paul of the Treasury De-
partment in an address before the
Chartered Life Underwriters at
Chicago. I'VE grant that the tax
mechanism has become so hard to
handle that it's time to stop for
repairs" he said.
Increased Wholesale Activity dur
ing the last week was reported by
Dun & Bradstreet, Inc. Unusually
heavy reordering of fall, winter
and holiday items and increased in
terest in spring lines pushed volumes
well above the previous week.
Chesterfields and tuxedo coats were
reordered most heavily in womens
wear markets. Outdoor clothes and
heavy topcoats were most popular
in mems lines.
More Coal Will Be Needed to meet
national production goal of 600,-
100000 tons by the years end, the
National Coal Association was told
by Carl E. Newton, who is retiring as
deputy coal mines administrator for
Secretary Ickes, to return to his
duties as president of the Chesa-
peake g. Ohio Railway. Current out
put of 100000 tons a week is
about 100000 a week below the re-
quired rate, Mr. Newton warned.
A Better Job Of Corporate Taxation
is being done in this war than in
the previous one, declared Brig.
Gen. Leonard P. Ayres in the
monthly bulletin of the Cleveland
Trust Co. In 1917 and 1918 the
corporations contributed some 80 per
cent of their profits to war costs,
but in 1912 and 1943 their con-
tribution will be IS pere cent Of
their profits, and more than that in
1914" he added.
Adams Express Co. reported net
assets on September 80 applicable
to common stock were S24,1S1 ,049 or
1852 share, compared with ST.
1850 or s11.69 share at the end
Of 1912 and s15,5ol 1855 or slO.59 a
share on September 80, 1912.
McKesson e. Robbins, Inc, earned
sl,266,443 or 10 cents a share in
three months ended September 80,
compared with an adjusted net of
1891 1867 or 48 cents a share in the
same 1912 period.
Alpha Portland Cement Co. earned
$298, ,454 or so cents a share in IL
months ended September 80 COM
pared with s1,288,o69 or s2.o3
share in the preceding year.
Philadelphia's City Debt has been
cut 92,000,000 since 1882 and the
city has been on a balanced budget
since 1910, reported the City Plan
ming Commission through its chair
man, Edward Hopkinson, jr., senior
partner in Drexel & Co. Annual
expenditures for interest and debt
retirement are now Al, million de-
lars less than in the peak year OF
1885.
Detroit Edison Co. reported net
income of s8,50l,750 in the year end
ed August 81, compared with So
307,909 in the preceding fiscal pc
riod. Gross from utility operations
was s84,7l8,688 against s75,30e, ,004
in the preceding year.
United Public Utilities Corp. pro-
posal to dispose of two subsidiaries,
Texas Ice & Refrigerating Co. and
Bourland Ice Co., was approved by
the SEC. Proceeds will be used to
redeem 6 per cent series A and 5l2
per cent series B collateral trust
bonds, due 1860.
Standard Oil Co. of New Jersey
reported that $4,000 or e5 per cent
of all its domestic employees were
participating in its emplove thrift
plan and that savings averaged 127.
per cent of earnings, of which the
company contributed 5l4 per cent.