Evening star., 1943-10-15
Business Briefs
Money in Circulation reeist

Business BrIetS
Money in Circulation registered a
further gain of S95 100000 in the
week ended October 13, totaling sl8.-
978000,000 on that date. and was
IS ,O46 900 900 above the correspond
ing 1912 date, the Federal Reserve
Board disclosed in its weekly sum-
mary OF member banks condition
Member reserve balances totaled
s2l ,02l 900 900, an increase of slls.-
900 900 from week earlier, but
S282 100000 below year ago. Ex-
cess reserves totaled $3.50 900 900
drop of s90,O00,o00 from week
earlier
Department Store Sales in the
week ended october 9 were 81 above
year ago, the Reserve Board also
reported All districts showed gains
except Chicago, where sales were
unchanged The gains: Dallas,
43%e: Atlanta, 26ec: Kansas City,
1876; Boston, ~; New Yc~k, &C.:
Philadelphia, &C.; Cleveland, I'd;
Richmond, a.; St. Louis. 7ec; San
Francisco, l2oc Sales in four weeks
ended the same date were SO above
year ago.
Lower Wholesale Prices last week
were reflected by the Bureau of
Labor Statistics index, which stood
at 1923, drop of .2Ge from the
preceding week. 1t was 80 above a
year ago, 1851 above the like 1887
week and SIC above the average
for October, 1929
Brokers Loans on securities held
by reporting member banks in New
York City totaled $1,503, 900 600 OH
Wednesday. drop of $4,000. 900
from a week earlier, but 81 1872 0OO,-
600 above year ago, the Reserve
Board announced.
Supporting the Scrap Drive, lead
ers in the steel industry have
pledged full cooperation and in
dlvidual companies have agreed to
purchase up to 100000 tons of
scrap collected in the drive over
their present inventories, declared
Robert w. Wolcott. president of
Lukens Steel Co, and chairman of
the Scrap Committee of the Amer
lean Iron & Steel Institute.
A Measure of the Railroads huge
task was given by Warren K. Ken
dali OF Washington, chairman of the
car service division of the ASsocia-
ton of American Railroads, who
said the carriers will handle more
freight and passengers this year
than they did in 1918, peak year of
the first World War. plus 1899, the
year the present war started in Eu-
rope.
Sharp Reductions in Cattle Feed
ing this coming winter and spring
were indicated by September data,
the Agriculture Department warned.
This condition extended to all i'm
portant feeding areas and its causes
were associated with prices and not
with availability of cattle for feed
ing, the department said.
Utah Power & Light Co. will file
with the SEC new plan for re-
funding S44 4400O,000 of funded debt,
probably next week. financial circles
heard. A rate reduction ordered bv
the Utah Public Service Commission
was said to have forced abandon
ment of an earlier plan for public
sale of S37,00000O first mortgage
bonds and private placement of
100000 general mortgage bonds
and notes.
MacAndrews & Forbes Co. earned
s433,948 or s1l3 a share in nine
months ended September 30 COM
pared with S427,077 Or Sill share
in the same 1912 period.
Bayuk Cigars, Inc, earned ST.
022,432 Or $3.50 a share in nine
months ended September 30, COM
pared with S8lo,725 or s2.06 a share
in the same months last year. !
Lehigh Portland Cement Co. |
earned 1851 800 or $182 share in |
II months ended September 30. COM |
pared with Sl,96O,544 or S2.3e a
share in the preceding year.
w. A. Shaeffer Pen Co. earned
$685. ,269, or 1886 a share in six
months ended August 81, compared
With $422 ,808, or So SO a share in the
same 1912 period.
Industrial Rayon Corn. earned
$l,196,451, or S158 a share in nine
months ended September 30. COM
pared with $1.506,403, or s1.98 a
share year ago. Figures were SUBJ
Ject to renegotiation.
Walter E. Heller g. Co. earned
S319,870, or "a cents a share in nine
months ended September 80. COM
pared with $376,021, or $1.16 a share
a year ago.
National Bond g. Share Corn. re- |
ported net assets on September 30
were equal to S2358 a share, COM
pared with $2381 on June 80 and |
$l9.08 on September 30, l942.
Standard Oil Co. of Louisiana has
put into operation a third large
fluid catalytic" cracking plant at
Baton Rouge. The three plants
produce l00-octane gasoline. syn
thetic rubber components and other
war materials.
st. LOuis-S San Francisco Railroad
trustees were authorized by Fed
eral Judge George w. Moore at St.
Louis to pay $5,804,575 to the RFC
and the Railroad Credit Corp. in a
compromise settlement of claims
totaling s11,789,752. The court was
told settlement would hasten re- |
organization of the railroad.