Evening star., 1943-10-16
Business Briefs

| Business Briefs
Life Insurance Sales of 80 lead
ing companies in September totalet
S684 ,608 900, a gain of 1857 owe
the same 1912 month, the Associa
ton of Life Insurance President
announced. In the first nine month
OF this year, sales of $6,2l6 .OOl 90,
were $50 above year ago. In
cluded in the September volume wa.
a 1880 increase in ordinary lif,
policies, a l0.8fo gain in industria
and a 22.9co gain in group policies
Higher Commodity Prices in tn,
week ended yesterday were reflected
by the Associated Press index O
So staples, which closed at lO7l9c;
OF the 1926 average. compared witt
l0707fe a week earlier and lO2.27G
year ago.
A Newspaper Circulation Recor,
OF 43,374,000 daily was set in 1912
according to an analysis from tn,
New York Trust Co., which ais,
stated that more than 4OTs of al
persons over 10 years old buy news.
papers and create an average de.
mand for IL copies daily by eacf
OF the Nations 35,0O0,OO0 families
Tremendous growth of reader in.
terest assures stability for the news.
paper industry, the analysis con.
cluded.
Railroad Operating Nets in Au.
gust were mot only 8l2 % smalle,
than in August, 1912, but also
smaller than in any month in the
last half of 1912" despite recorc
gross earnings, declared the maga-
zine Railway Age A 1870 jump in
expenses and 50To rise in taxes
caused the drop in net incomes
Scoring labor complaints that wages
are frozen" the magazine said that
II anybody has right to complain
1t Is stockholders, who are receiving
60fo less dividends than in 1929.
Treasury Security Allotments for
the banks totaled $3,204 .544. 900
based on percentage of more than
sl1 ,000, 900, 900 subscriptions received
IN last weeks financing operation
which was designed to supplement
the recent SIS 100000 900 third War
loan. The banks were excluded
from the War loan.
Fewer Sheep and Lambs Will Re
Fed for the winter and spring mar
ket, the Agriculture Department
estimated. The number in the corn
belt will show little change, but the
number fed on winter pastures
in Kansas, and in nearly all
Western States, will be reduced
sharply. Higher prices and short
ages of feed were blamed.
Crude Petroleum Stocks on Oc-
tober totaled 233, All 900 barrels,
a drop Of 1,172,O0O from a week
earlier, the Bureau of Mines re-
ported. Domestic crude decreased
l ,524 900, while foreign crude in
creased $4,000.
State and Municipal Financing
scheduled for the coming week
totals $14.039,19O, compared with
S4,723,lOO in the current week and
a weekly average of SIG, ,173 1897 for
the year to date, the Daily Bond
Buyer declared. Bids on $l3,8l3OOO
temporary notes of IL local housing
will be opened Wednes-
day.
A Desperate Scrap Situation in
the iron and steel industry has been
created by increasing production
demands, according to Bert c. Bert
ram, chief of the railroad unit of
the WPB salvage division, who told
a railroad conference at Chicago
that it is up to the carrier to deliver
every pound of scrap possible.
E. r. Squibb & Sons filed with
the SEC registration statement
covering issuance of 42,868 shares of
$4.25 cumulative preferred stock,
series B, no par value, and 44,7e9
shares OF no par value common
stock. Proceeds will be used to re-
pay $4,750,O00 worth of notes held
by three New York banks.
Universal Pictures Co., Inc. regis
tered with the SEC 234, 500 shares of
81 par value common stock, a like
number of voting trust certificates
and warrants for the purchase of
l25,000 of the shares. Warrants
totalng 100000 already have been
issued. The new warrants will be
issued to seven voting trustees.
Texas Co. headed group of oil
companies offering New York CITY
$3,750,000 for the privilege of selling
gasoline at the new municipal air.
port being built at Idlewild, Queens
County.
Virginia Public Service Corn. must
amend its voluntary plan for redis-
trlbution OF voting power among its
security holders, the SEC has de-
clded. An order disappearing the
plan was withheld, however, and the
company was given so days in which
to file amendments. A majority of
the commissioners insisted that in
combining the preferred and COM
mon stocks, 90 of the new shares
rather than SO should be allocated
to General Gas e. Electric Corp,
owner of the present common.
Hotels Staler Co. declared a
dividend of IS share on common
stock, payable November / to hold
ers Of record October 20. The firm
paid % on the common Of le42 and
x260 In tAkl.