Evening star., 1943-10-02
Business Briefs

Civilians Must Get Along with
half their normal consumption OF
cotton this year and even less next
year, If present trends continue,
President Russell T. Fisher told the
National Association of Cotton Man.
ufacturers, in session at Boston.
With military requirements mount
ing higher, production for civilian
use in Northern textile mills during
the first eight months of this year
was 179s below year ago, he added.
State and Municipal Financing
scheduled for the coming week ex-
panded to sl8,876,8 800. largest amount
since the war loan drive started, the
Daily Bond Buyer reported. In the
current week, financing totaled So
748,800. For the year to date the
weekly average was SIG, 1857 1888. Local
housing notes amounting to ST.
$4,000 will be offered on Thursday.
Larger Sugar Allowances for in
dustrial users should be allowed i'm
mediately as a result of the i'm
proved supply situation, according
to Lamborn e. Co.. sugar brokers.
Uncle Sam is the Chief Buyer on
textile markets. Attracting atten-
ton this week were invitations for
bids on more than 1875 900, 900 square
yards of cotton cloth to be delivered
during the first half of 1914. Actual
trade in the week was confined to
scattered lots of print cloths, sheet
ings and the like, mostly on high
priorities. Rayon markets were
stalemated by the pressure OF Gov
ernment demand.
Higher Wholesale Commodity
Prices in the week ended yesterday
we're reflected by the Associated
Press index. which advanced to a
new 1943 high of 10719, compared
with 10686 week earlier and 10l.l5
a year ago.
Iron Ore Shipments from Lake
Superior ports in the United States
totaled 1851, 1886 tons in September,
a gain of 897 $40 over the same 1912
month. and brought volume for the
season to date to 64.737.942 tons. q
drop of nearly 100000 from the
same 1912 period, M. A. Hanna Co.
announced.
Maryland's Apple Crop was esti-
mated on September / at 39T OF
normal, compared with 75c, on the
same date last year, A. F. Vierheller
of the University of Maryland Ex-
tension Service reported.
Celotex Corp. registered with the
SEC 70226 shares of common stock,
which it proposes to sell to common
stockholders at sl0.50 a share on
the basis of one new share for each
10 presently held Proceeds. esti-
mated at S7203 399. will be received
by the company and no underwrit-
ing discounts or commissions will
be paid
Chesapeake e. Potomac Telephone
Co. OF Baltimore earned s24l.513 in
August. compared with S202 sol in
the same 1912 month. At the end
of tne month there were 3o6.673
telehones in service in Maryland, a
gain of 24,502 from a year ago.
w. r. Grace & CO.. half -ovner Of
Pan American-Grace Airways, has
become since 1888 second or third
largest stockholder in Eastern Air
lines, Adolf Garni. vice president of
Grace and director in the two air.
lines, testified at CAB hearing on
Panagras S petition for a United
States terminal.
Sinclair Oil Corp received $780,
600 from Mexico as final payment
OF s8.500000 the nation agreed to
pay in installments for all of the
company's wholly-owned subsidiaries
in that country. Standard Oil Co.
of New jersey announced its sub
sldlarieS would receive s18,39l Sal
plus s3940,843 interest under terms
Of a similar settlement
Skinner Manufacturing Co. suits
to enjoin the General Foods Sales
Co. and the Kellogg Sales Co. from
allegedly unfair competition by in
frlngement on the trade name
'raison bran" were dismissed by
Federal District Judge J. w. Dele
hant at Omaha. The decision will
be appealed to Federal Circuit Court.
Bell Aircraft Corp. shifted a sub
stantial number of workers from
various indirect labor departments
having a surplus of personnel into
work Immediately concerned with
the manufacture of the Army P-39
Airacobra, the company disclosed.
New England Power Association
request for permission to spend ST.
100000 OF its treasury funds in the
purchase of SO cent gold deben-
lures, due l948. and 5l2ce gold deb
entures. due 1854, will be considered
by the SEC at a hearing October l8.
Standard Oil Co. of Ohio paid its
president, w T. Holiday, $4,000
during 1912. the company's annual
report to the SEC revealed.
Electro Refractories & Alloy Corp.
eleva.ad Grant S. damon. executive
vice president to the presidency to
succeed the late Luke U. Milward.