Evening star., 1943-08-13
Business Briefs
Money In Circulation

money In CTculAtiOn on August
IL totaled s1S,101, 900 900, a gain of
$87 900 900 over week earlier and
IS 5,23l ,000, 900 over a year ago, the
Federal Reserve Board reported in
its weekly survey Of member banks.
Lendable reserves of members
gained $4,000, 900 In the week to
reach sl,2o0,o 10000. Holdings of
treasury bills increased sl52, 2,000, 900.
Brokers Loans on securities held
by member banks in New York City
totaled 1896, 100000 on Wednesday,
a decline of s7l,000,0 from a week
earlier, but double s41s,000. 600 of
year ago, the Reserve Board also re-
ported.
Higher Wholesale Commodity
Prices In the first week of August
were reflected by the Bureau of
Labor Statistics index, which ad-
vanced AZ to reach 1897 of the
1925 average, gain of 41a9 over
year ago. In the like 1897 week, the
index was 874, while for August,
1929, 1t was 96.3.
A Decline In Cattle Feeding was
revealed by the Department of Ag-
riculture, which stated the number
Of animals being prepared for mar
ket in II corn belt States was 1lTe
below year ago on August l. State
decreases were: 309o in Minnesota,
20%o in Ohio, Illinois and Kansas;
10To In Nebraska, SO in Indiana,
Michigan, Iowa and Missouri. Wis
consin and South Dakota were listed
with increases of Sc.
Republic Drill e. Tool Co. of Chi
cago filed with the SEC a registra-
ton statement covering the pro-
posed issuance and sale of 81 $50 900
l0-year SO convertible debentures
due August l, 1858.
National Dairy Products Corp. and
domestic subsidiaries earned $6,017,-
ASS or 96 cents ashare in six months
ended June 30, compared with S.
428, ,428 or 86 cents share year
ago. Federal taxes amounted to ST.
900, 900 against S., ,529, 500 a year ago.
A reserve of 81 300. 900 was set aside,
compared with S., ,401 500 for contin-
gencies in the 1912 period.
Fairchild Aviation Corp. earned
S713,384 or $2.12 share In the first
1943 half, compared with $579037 or
$l.72 share year ago.
Amerada Petroleum Corp. earned
$708, ,239 or 80 cents a share in the
June quarter, compared with $5l0,-
065 or IS cents a share year ago.
General Cigar Co. earned 1854, ,693
or 81 share in the first half of this
year, compared with $685. or 50
cents share in the same period last
year.
Standard Oil Co. Of Indiana
earned $22 2,079,418 or $1.44 a share
in the first half of 1943, compared
with $19,390,526 or $l.27 share in
the same 1912 period.
Childs Co. won another round in
its battle against an involuntary
reorganization petition when Fed
eral Bankruptcy Referee Robert P.
Stephenson in New York recon-
mended dismissal Of the action after
ruling that two of the three petit
TONERS were not creditors of the
Arm. The petition was filed June 10
and hearings started August 6.
Prompt Postwar Liquidation Of
emergency Federal housing to pre-
vent disastrous dislocations in local
realty values, in tax structures and
in residential areas as well as to
/ prevent some places from becoming
ghost" towns, was urged by the
National Committee on the Hous-
ing Emergency. The committee s
report called for cooperation of
Federal and local officials, real es-
tate associations and city plan
| boards.
Sugar Production Has Been Cut
one-third this year because the
Government failed to maintain the
competitive position of sugar beets,
declared President w. j. Gorst Of
the National Beet Growers Asso-
citation. He said the drop in Amer
lean beet sugar output for 1943
equaled the current sugar ration
| of rs. .000, 900 people.