Evening star., 1943-11-18
Business Briefs

1
Bank Clearings in % leading cities
totaled 1880, ,447 900 in the holiday
week ended November II. compared
with $8,753, AT, 900 in the preceding
full week and were SO below So
377 ,839 900 in the like 1912 week, Dun
q Bradstreet, Inc, reported. New
YORK clearings were $50 above a
year ago. Cities reporting largest
declines included: Baltimore. 14l%.
Boston, 1867; Cincinnati, 1929:
richmond, 177%; San Francisco,
1917; Portland, Greg, 14.1%.
Iron Ore Consumption from Lake
superior District mines totaled =
75O,682 tons in October, compared
with 7,393,158 in the preceding
month and 1888, ,664 in October, 1e42
consumption in the first ten months
OF this year set a new record of
H,00s,o64, compared with 7l,OlO316
in the same 1912 period.
Freight Loadings in the week ended
November l3 totaled 847,683 cars. a
gain of 1887 over the preceding
week and 2.5qo over a year ago. the
association Of American Railroads
disclosed.
Meat Production in Federallv in
spected plants last week aggregated
406, 900, 900 pounds, a AZ gain over
the preceding week, the War Meat
Board estimated. Beef output of
l4l 900, 900 pounds was up 30: pork
output of 232 100000 pounds was up
Sc.
Gasoline Stocks on November 13
totaled 6S,726,000 barrels against
6o,698,0OO a week earlier and 76,-
u28,OOO a year ago, the American
Petroleum Institute announced
Light fuel oil supplies totaled As
$4,000 barrels, a gain of $4,000
from a week earlier. while heavy
fuel oils totaled 62,647 900 barrels. a
drop of 100000 from a week earlier
Ruthless Production. Shifts to
meet changing war needs should be
made, whatever the cost to segments
of the home front, declared Charles
E. Wilson. executive vice chairman
OF the WPB, in an address before
Mex England Governors. Cancella-
ton OF contracts, which may seri-
ously disrupt the economy of af-
fected communities is inevitable, he
said.
Engineering Construction this
week amounted to s68 ,93l 900, a gain
of 1919 from the preceding week, but
31eo below a year ago, reported En-
gineering News-Record. Private
construction of 39,9O6,000 was the
second largest for any week this
year and compared with s16,607 900
in the preceding week and s5,971 900
a year ago.
A NEW S64,3OO, 900 Issue of Fed
eral Home Loan Bank debentures
were offered by Everett Smith,
financial representative. Dated De-
cember l, the notes will mature
next June Is.
Southern Pacific Railroad direc-
tors declared a dividend of ST a
share. payable December % to hold
ers of record November 20, bringing
payments for the year to 81, COM
pared with ST share in 1912. Direc-
tors also authorized redemption on
January l of the company's S2o,-
009, 900 10-year 3% % secured bonds.
due July /, 1916, at 1O1 and accrued
interest.
Chesapeake & Ohio Railway re-
ported october net income of s2,71O.-
STA or 35 cents a share, compared
with S6,448,5 ,584 or 83 cents a share
a year ago. For 10 months, net was
S26,347,753 or 1888 a share, COM
pared with S25,O88,2 ,290 or 1921 a
share year ago.
Bethlehem Steel Corp. and Rheem
Mfg. Co. have completed negotia-
tions for the purchase by the former
of 100000 shares of Rheem common
at $ll.50 a share, subject to ap-
proval of the commissioner of cor
porations of California. Bethle-
hens interest will be approximately
one-third of the common outstand-
ing. No change in Rheem manage
iIlcIlt lS COllteIIlpldJeQ.
Westinghouse Electric & Mfg. Co,
earned $14,491 SOB or $4.52 a share
in the first nine months of this year,
compared with $11,376,217 or S3.55
a share in the same period last year.
Detroit Edison Co. earned S8,273,-
302 or S1.30 share in IL months
ended October 81, compared with
$3.50 1923 or $1.38 a share in the
preceding year.
Great Northern Paper Co. earned
81, 200 ,585 or S1.20 a share in nine
months ended September 80, COM
pared with $1,359,343 or s1.36
share in the same 1912 period.
Consolidated Cigar Corp. earned
$340, ,666 or 83 cents a share in the
September quarter, compared with
$358,515 or "a cents a share a year
ago.
Reliance Mfg. Co. earned 1858 1922
or $4.O7 share in nine months
ended September 80, compared with
$843,616 or 1884 a share in the
same period last year.
Park G. Tilford, Inc, earned $780,
281 or $3.87 a share in nine months
ended September 80, compared with
$537 ,811 or $2.14 a share in the same
1912 months.
Seaboard Air Line Railway report
ed September net income of s1,l46.-
097 against $685. ,008 in September.
1912. Net for nine months was s16.-
340, ,532 against $14, ATS ,O8S a year ago.
Consolidated Steel Corp, Ltd.
earned $2,793,520 or $1O.53 a common
share in II months ended August 81,
compared with $1.498,900 or $5.17 a
share in the preceding year.
American Stores Co. directors ap-
propriated 100000 to pay Christmas
bonuses on the same terms and con-
ditions as last year. All employees
except officers and directors will re-
ceive bonuses and gifts will be sent
to former employees now in the armed
services.