Evening star., 1943-09-21
Business Briefs

| Business Briefs
Billions from War Bond Sales ex-
panded Government deposits in
banks of 101 leading cities in the
week ended September Is, the Fed
eral Reserve Board announced. The
total climbed to So. .787, ,0O0, 900, a gain
of s5,939, ,000, 900 from a week earlier
and S8.347 ,00O. 900 above a year ago.
Holdings of Government obligations
on September Is totaled $35 ,584 ,0OO,-
600, a gain Of. 81 ,371 200 900 from a
week earlier and $l4,996, ,0O0, 600
above a year ago. Loans for COM
merce, industry and agriculture
totaled $6,0l1 900 900, a gain OF $246,-
10000 in the week and $605, 900, 900
below year ago.
Radiophotos from Switzerland will
be made available by a new 3.9O0-
mile circuit connecting that coun-
try with the United States, RCA
Communications. Inc, announced
Running from New York to Bern
the circuit is licensed by the FEC
to carry commercial photographs
documents, drawings and sketches
as well as all printed or written
material.
Business Failures in :. the week
ended September 16 totaled 80, COM
pared with "a In the preceding week
and 1T in the like 1942 period, Dun
q Bradstreet, Inc, reported.
Crude Oil Production In the week
ended September 18 increased 20 .0s5
barrels daily to an average OF 1885,
ITO barrels day, the Oil & Gas
Journal estimated. Texas produce
ton increased 300 barrels q day to
1887 $50; California, 5000 to 78s. $50:
Louisiana, 200 to 360, ,825; Oklahoma
$50 to 327 $50; Kansas, 6.450 to 296.-
900; Illinois. 6.100 to 227,500.
r. Hoe & Co. eliminated all ac-
crued dividends on the prior pre-
ferred and preferred stocks with
declaration of $2535 a share on
the 61a% prior stock and 1892 a
share on the 7% preferred. Pay
ment will be made September 80
to holders of record September ~,
The dividends were the first de-
clared since September 30. 1887.
Massachusetts, Investors Second
Fund reported net assets of $685.
79l or 1898 share on August 81
compared with $6,621 500 or $3.50 a
share a year ago.
Eureka Vacuum Cleaner Co. wal
production in the year ended July
81 was more than 330go above the
preceding year. President H. w
Burritt said schedules call for fur
ther increases in the coming year
United States Smelling & Refin-
ing Co. earned $1,801,172 in eight
months Of this year, compared with
So ,699, ,708 in the same 1912 period
Directors declared a dividend OF rs
cents a common share, payable Oc-
tober Is to holders of record Sep
tember 30.
Curtiss- Wright Corp. announced
completion Of renegotiation pro-
ceedings with the Government COW
ering 1912. which left substantially
unchanged the results announced in
August. Net at that time was re-
ported $13,143,515 or $1.46 a share
against $25.717,512 or $315 a share in
the preceding year.
Timken Detroit Axle Co. earned
$5,135, ISL or $5.l8 q share in the
fiscal year ended June 80, after pro-
vision for renegotiation and $14,075, :
600 for Federal taxes. In the preced-
ing year, net was $5,2o5 100 or $5.2s
share. before renegotiation, but
after Federal taxes Of $34 500 900 and
81 ,250 900 for contingencies. r.
National Tool Co. earned $107, ola
or At cents a share in six months
ended June 30, compared with $84, ,131
or 81 cents a share in the same l941
period.
United Air Lines is prepared te
make commitments Of $l8, 100000 te
20,000,000 in developments durlns
the first 10 months after the end o1
the war, President w. A. Patterson
said. He added there was danger
of overexpansion and ill-advised
financing unless we are very care
full" but predicted the air transport
industry would increase five times
in the first five years after the war.
National Tool Co. earned $107,013
or Al cents share, after six months
ended June 30. compared with $84,-
13l in the same 1912 period. Ship
ments in the first half were the
highest in history and were 28%
above year ago.
Kroger Grocery & Baking Co. sales
totaled s31 1875 1888 In four weeks end
ed September IL, compared with
S30,025,611 in the same 1912 period.
Sales for the year to date were $685.
999 ,208, gain of 1870 over $685.
512,310 year ago.
Seaboard Air Line Railway plan
to redeem S12,841, 600 principal
amount of receivers certificates will
be considered at a hearing before
Judge Luther B. Way at Norfolk
October 49,
Baltimore & Ohio Railroad re-
ported car loadings in the week end
ed September 18 totaled 1888
against 70,455 in the preceding week
and 70,l32 in the like 1912 period.