Evening star., 1943-05-09
Business Briefs

S0Ss u ASSte Oh WlaC coal S{1uL.
down would mean, Business Weeks
index for last week dropped full
point to 2030, owing to wildcat mine
stoppages. Most of the mines were
closed Monday and steel operations
declined 1870 of capacity. Under
standably, said the magazine, stocks
gained on news Of the coal truce and
the initial strong administration
stand. I'm a real sense, corporate
earnings prospects reflect the ma
tional interest. If prices and wages
spiral, profits will be cut; but also,
war costs will rise and war energies
will be sidetracked. Where stop
pages mean q drop In corporate
gross, they also mean reduced war
production" it declared.
Borrowings Of Member Firms of
the New York Stock Exchange
scared in April to $569, ,614, ,299 at the
end Of the month, compared with
1886, ,894 ,993 a month earlier, the ex-
change announced. The total in
cluded $219, TOO $40 on Government
obligations and $349, ,904 ,989 on other
securities.
Rejecting an Advancing Market,
1926 stocks listed on the stock ex-
change on April 80, aggregated l.
468,918,528 shares, with q market
value of SAC, 1872 1861 $3.50, and an aver
age price of $31.45 share. At the
end Of March, 1889 issues aggre-
gated 1859 ,456, ,426 shares, with a
market value of As, ,845, ,738, ,377, an
average of $31,20. A year ago,>1 PAL
issues were listed having an aggre-
gate Of ,469, ,204, ,098 shares, a market
value Of $31 AS, ,206 ,904, an average
of $21.41.
They're Banking to Bach at the
Emigrant Bank in New York. For
two weeks, piped-in music has been
soothing and relaxing nerves taut
with finance, and employees believe
the innovation the greatest in bank
ing since the adding machine. The
"Volga Boatman," "Viennese Waltz, I"
Irish melodies and other old favor
ties are played, but no vocals or jazz
Of any kind.
Florida East Coast Railway pay
ment of an interest coupon matur-
ing September !, 1882, on the first
and refunding SO bonds, has been
requested by the Florida National
Building Corp. in Federal District
Court at Jacksonville, Fla. Value of
the coupon is about $780, 900 and
if approved will be the third paid
since the railway went into receiver
ship in 1881. The court has taken
the petition under advisement.
United Aircraft Products CO. COM
mon stock was reinstated on the
New York Curb Exchange. Dealings
were suspended on receipt of a no
tice that accountants had found an
error in c0mputing> provision for
Federal income and excess profits
taxes in the annual report. The net
income as published was $1,5O5 $3.50,
but should have been $l,378, ,128. A
corrected report will be issued.
United Utilities, Inc, of Abiline,
Kans., a holding company, has asked
the SEC to permit it to purchase
1902 shares of United Telephone Co.
Of Pennsylvania common stock, now
owned by the Bell Telephone Co. of
Pennsylvania, for $50 share.
United Utilities said the 1902 shares
represented the only stock of the
firm which it does not now own.
Philadelphia's Debt Has Been Cut
more than SOS, 900 900 in the last 10
years and today is the smallest since
1927, City Treasurer Edgar w. Baird,
jr. announced. In the next three
years, the debt will be reduced fur
ther by more than $50, 900 900, he
said.
Liquid Carbonic Corp. earned
$125, ,603 or Is cents a share In the
first quarter of 1943, compared with
SITS, ,495 or 20 cents a share a year
ago.
General Telephone Co. earned ST.
873, ,108 or 1926 a share in IL months
ended March 81, compared with 81
024,772 or $2.51 a share in the pre-
ceding year.
Loudon Packing Co. stockholders
will vote at a special meeting Nav
21 on a proposal to sell all the COM
pany's assets, except cash on hand
and In banks and claims for tax
refunds to Standard Brands, Inc,
and act on resolution of directors
to dissolve the company on con-
summation of the sale. The sale
price will be $4,000, less the
amount OF cash on hand and in
hanks