Evening star., 1943-12-13
Business Briefs

Of the magazine Business Week,
which stood at 243.3, compared with
1929 a week earlier, 1855 . month
ago, 227.5 six months ago and 2ls.3
year ago.
Little Imitation Is Expected in the
coming year. despite the huge avail
able money supply, according to
United Business Service. Although
shortages Of goods also will continue
to be an inflationary threat, the
wartime habit Of saving will persist
and act as deterrent to spending
and controls will continue to act as
a restraint on prices, the service
added.
Export Freight, excluding coal and
grain, handled by the railroads
Through United States ports in No.
vember totaled 133,537 cars, against
75,767 in the same 1912 month, a
Jump Of 769e, the Association of
American Railroads announced.
| An Acute Shortage of Lumber for
civilians next year is in prospect,
according to the United States For
est Service, which said reserve stocks
had been reduced to critically low
level by unprecedented wartime de.
mands. Stocks were said to be 6O%
below the Pearl Harbor level.
Hot Springs tArk.) Offering of
$2,075 900 80 water revenue bonds
due annually from 1945 to 1888, was
placed on the market by syndi-
cate headed by Halsey, Stewart &
Co. The bonds are priced to yield
1870 to 2.75%, according to ma
turity.
United Air Lines, Inc, registered
with the SEC 105,032 shares of 4h%
cumulative preferred stock. 500 par
value, convertible prior to January l,
1854. The shares are offered to
holders OF common at 500 a share
at the rate of seven preferred shares
for each 100 shares Of common on
record December 20. No fractional
shares will be issued, but fractional
subscription warrants may be COM
bined to permit subscriptions for one
or more full shares. Warrants will
be exercisable from December 80 to
January 10, 1914
pennsylvania Railroad earnings
this year will not be as favorable
as those for 1912, due principally to
much higher taxes" stockholders
were told by President M. w. Glenn
ent. Last years earnings equaled
$7.n q share. Defining Pennsy's
policy toward competing forms OF
transportation, Mr.. Clement said
the road seeks neither to dominate
rail transportation nor does it de-
sire tc dominate transportation in
other fields" and added that 1t Is
not now financially interested In
any airline and that its interest
in bus transportation was a halt
ownership in the Pennsylvania
Greyhound System. with routes con-
fined to territory served by the rail-
road.
Canada Dry Ginger Ale, Inc,
earned sl,440.6l3 or S2.34 share In
II months ended September 80. COM
pared with sl,578049 or s2.56 a share
in the previous year.
Cupboard Marine e. Manufacture
ing Co. earned sl,l7l.058 or s39 a
share in the year ended September
30, compared with a revised net OF
s9l2,47l or S307 share in the pre-
ceding period
Pennsylvania Power e. Light Co.
reported net income of $505,252 in
October, compared with $756,lo5 in
the same 1912 month. Net for Il
months ended October 81 was
s5,890,339 against s5,1s4,o52 in the
preceding year.
National Cash Register Co. has
purchased the Allen-Wales Adding
Machine Corp. at Ithaca, N. Y.
st. Regis Paper Co. has purchased
logging operations of the West Fork
Timber Co. in the State of Wash.
ington. and acquired perpetual cut
ting rights on its 100000 acres Of
fir and hemlock timberland. The
transaction was described as the
largest in the timber field in more
than 25 years.
United Gas Corp. and Houston
| Gas Securities Co. have filed with
the SEC merger plan which in
wolves the consolidation of Houston
into United and the assumption by
United Of the obligations of Hous-
ton under its s3,9O0,0oo so collat-
eral trust gold bonds and under pro-
visions of the collateral trust in
denture dated March l, 1892, be-
tween Houston and the Chase Ma
tional Bank
Carnegie Corp. must either reduce
the number Of its grants, or the
amounts involved, because OF cur
tailed income due to prevailing low
interest rates. President Walter A.
JeSsup revealed in his annual re-
port. The corporations income is
only three-fifths OF what 1t was 10
years ago, he said. Grants totaling
81 ,562 900 were made during the last
year to various agencies, including
those promoting international un-
derstanding.
American Power 4 Light Co., a
subsidiary Of Electric Bond e. Share
Co., was granted a four-month ex-
tension to April 10 by the SEC to
complete expenditure Of not more
than sl0,000,000 for open-market
purchase Of part of its outstanding
SO bonds due 20l6, and its assumed
Southwestern Power g. Light Co. So
gold debenture bonds due 2022..
American Car & Foundry Co.
appointed Victor r. Willoughby
Edmund D. Campbell and Alvin A.
Borgading vice presidents.
Julius Kayser & Co. directors
elected Theodore F. NJ Gray vice
president Mr.. Gray will continue
in charge of all the company s
manufacturing operations In the
United States.
General Foods Corp. appointed J.
Nelson Williams director Of pur-
chasing. He was formerly Eastern