Evening star., 1943-10-29
Business Briefs
When the Government Tai

When the Government Takes
Sides, it destroys the foundations of
justice and when it enters the eco
nomic arena as competitor of its
citizens, it inevitably destroys their
/ freedom of opportunity, declared
Frederick c. Crawford, president of
the National Association of Manu-
| facturers in an address before the
Associated Industries of MassaChu-
sets. The relation of the Federal
Government to private business
should be that of a referee. he said
Money in CircuIa ton totaled Sl9,-
090 900 900 on October 27, a further
gain of $71 100000 from week
earlier and 5000 100000 above IA
year ago, the Federal Reserve Board
announced in its weekly summary
of member banks condition.
Department Store Sales in the
week ended October % were 1870
above the corresponding 1912 perioc
while sales in four weeks ended the
same date were ~ above year ago
the Reserve Board also revealed.
Rochester IN. " Telephone Corp
registered with the SEC 100000
shares of $40 par value common
stock, to be offered for public sale
through syndicate headed by First
Boston Corp.
Crude Petroleum Stocks on Octo-
Der % totaled 235 998 900 barrels, a
net increase of 2,00l 900 from week
earlier, the Bureau of Mines dis
closed. Domestic crude increased
l,949 900, while foreign crude in
creased $4,000.
Montgomery Ward d. Co. directors
: elected C. D. Ryan president to sue
, ceed SeWell Avery, who will remain
J as chairman of the board and chief
executive officer. R. S. Stevens was
/, elected vice president and will sue
! ceed Mr.. Ryan as general merchan-
disc manager.
/. Certain-Teed Products Corp. will
! offer to exchange 500 principaI
amount of income debentureS anC
/. two shares OF common stock fol
: each of the 67,373 shares of out
standing preference stock. The
, preference stock would be retired
, and the flrms capital reduced by
SlO0 for each retired share. Tht
, o1er was described in an SEC regis
) tratlon statement covering S6.737.-
800 OF a., cumulative income de-
bentures, l34746 shares of 81 pal
, val
> of deposit for 67,373 shares of g.
!. preference stock
Raleigh IN. c. Gas Co. and Its
parent. Consolidated Electric & Ga.
|, Co. asked the SEC to authorize salt
B Of Raleigh,s property and assets tc
Charles B. Zelgler of Gastonia. n. c.
for base consideration of s21787O.
Chicago Mail Order Co. an.
. nounced an agreement with Lehman
4 Brothers for a joint advisory com
mlttee to work on postwar problem.
. and policies. Under the agreement
. the investment banking firm woulc
buy Immediately a 5000 share in.
! terest in the mail order company
, and take an option on an additiona
$4,000 shares. Stockholders of the
mail order firm will vote on The
, proposal December T.
Bethlehem Steel Corp. earned sc. ID.
573 1872 or 81 So share in the Sep
a tember quarter, compared with Sc ..
6l42l0 Or Sl67 a share in the pre-,
, cedlng quarter and s7.444.870 o.
3 Sl84 share in the same 1874.
period. Net for nine months endec
September 80 equaled S486 a share
against s494 share a year ago.
: General Foods Corp. earned SO
! 092ll6 or 81 go a share III the frs
3 nine months Of this year. compared
with s6.462 956 or sl.6l a share
year ago. Sales totaled SI8l.280. so
against sl67 1886 .263 a year ago. Ne
= for the September quarter totalet
: s30l30 OBS against S3l33.423 in tn
a same 1912 period.
Z Allis- Chalmers Mfg. Co. earne,
S2,697 .946 or sl.5l9 q share IN tn
September quarter, compared witt
s S2056 048 or s1l58 a share in tn,
q preceding quarter Net for min,
a months was S6l86.133 or s3 .483
share after provision of. s23 100 OOt