Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-03-26
Business Briefs

Excess Bank Reserves of Federal
Reserve member banks decreased
$500, 100000 in the last week and
stood at ST 100000 900 on Wednesday
Holdings Of Government securities
dropped $4,000 900, despite an in
crease in bill holdings.
War Activity boosted the Federal
Reserve Boards adjusted index of
industrial production three points to
a record of 203 in February. IN
creases were greatest at coal mines,
steel mines and armament plants.
Refunds to Utility Customers will
take the place of rate cuts under a
new policy announced by the Ar
kansas Utilities Commission. Earn
lngs above what it considers a
reasonable return on investments
will be returned to customers.
The No. l Reason for Absenteeism
in big industrial plants is the COM
mon cold, according to the Wall
Street Journal, which reports an
estimated loss of 10000 900 work
days annually and an incalculable
cost in dollars. Ultraviolet light
and spraying with propylene gtcoI
vapor are declared the best protec-
ton, but their use is limited by
high costs and technical problems.
Wholesale Price Index of the
Bureau of Labor Statistics declined
o. in the last week to 1887 of
the 1926 average. 1t was the first
drop since October and was
caused mainly by a recession in
prices of farm products.
Brokers loans held by Reserve
member banks in New York City
in the week ended Wednesday to-
tailed SAT- 100000, gain of ST.
100000 over the previous period
A year ago, they totaled 1886 900. 900.
Celotex Corp. has filed a registra-
ton statement with the SEC cover
ing $4,000 shares of common stock.
which is to be offered at Sl0.5O a
share only to employees and a limited
group of business associates selected
by directors.
Lincoln Service Corp has applied
to the SEC for authority to withdraw
its $50 "a preferred cumulative prior
preferred stock and its 81 common
stock from the Washington Stock
Exchange. A hearing has been set
for April % in the Capital.
Santa Fe Railway reported net
railway operating income of S490l, =
sos in February, compared with S.
6806l7 a year ago. Net for two
months was SO 1887, 247 against Sc
942, 843 a year ~.
Shell Union Oil Corp. earned
SIG ,860,007 or $l29 a share in 1912.
after a special reserve of 81 345 1856,
In 194l. net income was sl6,768 l57
or $l29 share, after deduction Of
s4OOO,0OO.
Island Creek Coal Co. earned So
077643 or 1924 a share in 1912.
against s1.996879 or S3.11 a share
in l941.
Bristol Myers Co. earned 81, 464.-
1888 Or $3.50 a share in 1912. against
S2.377, $50 or $3.50 a share in l94l
Union Pacific Railroad earned
$6,l46,65l or S246 share in the
first two months of l943, compared
with 1885 $3.50 or ST AS share in
the same 1912 period.
Commonwealth & SCOUT hern
earned Sll,55l,ll5 or $3.50 a share
in the II months ended February
%. against $685. 39 or $798 a
share in the preceding period.
West Penn Electric Co. earned
S5.O25641 or 80 cents share in
1912, against $4692,4 16 or IS cents
a share in 194l.
National Gypsum Co. stockhold-
ers have approved a pension plan
which provides for retirement of
higher paid employees at IS on an
annuity basis equivalent to approx
imately one-third of salaries above
$4,000 year, but not exceeding
s21 600