Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-03-18
Business Briefs

Merger of Consolidated Aircraft
Corp. and Vultee Aircraft Co. into a
single company ranking as one of
the largest plane producers in the
world, was announced by Tom M.
Girdler, board chairman of both
firms. Holders approved the merger
by substantial margin. he said.
j. T. Morgan & CO., Inc, elected
Thomas w. Lamont as chairman to
succeed the late J. P. Morgan Inter-
nationally minded Lamont became
Morgan partner in 1911.
Household Shoppers increased. pur-
chaseS of fresh fruits and vege-
| tables about 1870 in the first two
weeks of point rationing. Great At
lantic & Pacific Tea Co. reported.
Shipments to company stores in
creased 156 freight carloads in first
week and another 76 carloads in
second week
| Hardware Sales of independent re-
| tailers in January averaged liz
below a year ago, Hardwood Age
! reported. Wholesalers January
volumes averaged 16%c below year
! ago.
! Utility Properties May Be Sold by
Cities Service Co. because of pre-
ponderance of its oil business, coun-
sci for company told SEC AS a re-
suit. the firm would cease to be a
holding company under the Utility
Act.
Canadian War Loan Drive for ST.
100000,000 starting April 26 will re-
quire substantial increases in sub
scriptions by individuals, the Finance
Minister reported
| Large Oversubscription was re-
! ported for a new issue of S35 ,000, 900
I Federal Home Loan Bank con-
solidated debentures, dated April /
and maturing October /, with a
coupon rate of three quarters of 1qo.
| Electric Bond & Share earned
/ S5,659,041 or s426 a share on COM
bined preferred issues in 1912, COM
pared with S9,571 ,423, or "a cents
a common share in 194l.
Universal Cyclops Steel Corp.
earned $2,128.545, or $426 a share
in 1912, after provision for s6,008,-
900 for income and excess profits
taxes and deduction of postwar
credit of s6l2,000 Net profit in 1941
was 81, 753,O43, or 1881 share.
Edward G. Budd Manufacturing
Co. reported record sales of Sis
1923 for 1912, compared with ss4,-
! 216,701 in 1941. Converted 1907
/ to war work, company earned
! s3,602 ,029 after taxes, depreciation
. ar0d 400
! Budd Wheel Co. earned $1,752,269
! in 1912 after all deductions, includ-
| ing 81 100000 postwar reserve.
Nickel Plate Railroad reported
February net income of s672 .267,
compared with s815,755 in February,
| 1912.
Union Bag & Paper Corp. earned
! 81 800 ,401, or $3.50 share, in 1912,
against So 1898, or s1.7o a share,
in 1941.
Pittsburgh Steel Co. earned So
488,074, or 1919 share, in 1912,
against SO, 1863. 597, or s4.53 a share. in
1871.
United Fruit Co. earned Sl1,934,-
582, Or S408 a share, in year ended
January 2. compared with s15.442,-
608 or 1928 a share, in the preced-
ing period.
Arundel Corp. earned 1882 092 in
two months ended February %,
compared with $l06,455 a year ago.
Earnings were after charges but
before Federal and State income
taxes
Beneficial Industrial Loan Corn.
earned s4,368 500, or $199 a share.
in 1912, against s5828,l19, or s2.35
share, in 1941
A Boom in Parlor Games is re.
ported by the Wall Street Journal.
Gasoline and tire restrictions along
with free spending of higher wages
are regarded as factors.