Evening star., 1944-09-27
Business Briefs
Electric Power Consumutio

Electric Power Consumption de-
rllned to 4.377 ,339 900 kilowatt hours
in the week ended September 30
compared with 1894 ,839 900 in the
previous week, but remained above
4359,610,O0O in the like l943 period
reported the Edison Electric Insti-
tute.
Demand Deposits of member banks
in l0l leading cities totaled S35,-
522,000,000 on September 20, drop
OF 1878 100000 from a week earlier
but $500 100000 above a year ago
the Federal Reserve Board revealed
New York City Bank Earnings,
including Is leading institutions, for
the third quarter of 1914 were 1870
above the previous quarter and
more than $50 above a year ago
the Federal Reserve Bank of New
York disclosed.
Life Insurance Policy Loans on
June 80 approximated 81, 100000 900,
lowest in Is years, the Institute of
Life Insurance announced. Thev
reached peak of $4,000, 100000 In
1882.
American Tobacco Co. is consider
ing sl00,00O,000 debenture issue
to provide funds for future require
ments in leaf tobacco, banking
sources said. Morgan Stanley & Co.
would handle the financing.
Ohio Edison Co. Offering of $780,
100000 first mortgage go bonds was
marketed at 1922 and 10000 pre-
ferred shares at l03 by a group
headed by Morgan Stanley g. Co.
Erie Railroad issue of S13,OOO,OO
first consolidated mortgage 3i.s was
put on the market at 100 plus in
terest by syndicate headed by
First Boston Corp.
Baltimore County (MdD issue OF
S2000000 metropolitan district bonds
vas offered by Phelps, Finn g. Co
With a combination of coupons and
maturities at prices to yield 40 to
1857.
Birmingham Electric Co. Offering
of sl0,000,000 g. bonds was mar
keted at 10l plus interest by Smith
Barney & Co. and associates.
Remington Rand, Inc. directors
voted to retire 1882 shares of $3.50
cumulative preferred stock in ad-
vance of January l.. dividend pay
ment date
Liberty Aircraft Products Corn
stockholders voted to split common
stock two for one, issue 10000 shares
of new Sl25 preferred and 100000
shares of common to be reserved fur
conversion of the preferred.
Manati Sugar Co. earned 1894 .051
or 1928 a share in II months ended
June 80 VS.. sos, 1896 or % cents in the
previous year.
Commonwealth e. Southern Corn
net income for months ended
August 81 was 1891 1929 or $5.32 a
preferred share VS.. S8.8l3,690 or S5 95
a preferred share year ago.
Wick Chemical Co. earned S2.46O,-
9l6 or 1882 share, before renego-
tiation, in II months ended June
40, compared with $2,264 ,889 or So. 80
III the previous year.
Western Maryland Railway net
for August was $280,54 VS.. S469 .Ol6
a year ago. for months, S2695, ,263
VS.. $3.399,582.
Hecht Co. of Baltimore declared
quarterly dividends of 30 cents a
common share and sl06l4 pre-
ferred share, payable October 81 tc
holders of record October 10.
Mobile tAla.) Gas Service Corn
asked SEC approval of issuance and
sale under competitive bidding OF
81 100000 new bonds and 5000
shares of new $l00 par value pre-
ferred stock for refunding purposes
Transcontinental g. Western Air
Inc. announced Brig. Gen. Thomas
B. Wilson will resume his position
as TWA board chairman upon his
release from the Army November 7
United States Steel Corp elected
James B. Black q director, its first
from the Pacific Coast. He is presi-
dent OF Pacific Gas & Electric Co