Evening star., 1944-12-20
Business Briefs
Urgent War Production is incre

Urgent War Production is lncreaS-
ing by leaps and bounds at steel
plants and is assuming such large
proportions that it may eventually
show up as a secondary war peak
in steel output, the magazine Iron
Age said. Last-minute schedule
changes and an alteration in the
product-miX picture were forecast.
Electric Power Consumption for
the week ended December 16 totaled
4,563,O7900O 'kiioWatt hours. COM
pared with 4,530012000 in the pre-
vious week, but was l1cc below
4,612,994,000 in the like 1943 week,
the Edison Electric Institute an
ncunced.
Demand Deposits of member
banks in 101 leading cities totaled
S35 ,867 100000 on December 13, a
gain of S43,0OO,0O0 from week
earlier and SLIT, 100000 above a
year ago, the Federal Reserve Board
reported.
January Oil Output of 5,040, 300
barrels a day was recommended by
the PAW. This was an increase of
14400 barrels a day over the allow
able for this month.
Net Railway Operating Income of
class I carriers in October was
S97,346,4 ,467 VS.. S113,311 ,205 a year
ago; in 10 months, $945, ,315 ,434 VS..
S1,195,867 .342 a year ago.
Pennsylvania Railroad net for Oc-
tober was s5,728,958 VS.. S4705, ,654;
for 10 months. S58,984,737 VS.. S78,-
9l8,357 year ago.
Chesapeake &; Ohio Railway net
for November was s2,lS6,287 VS.. 81
42S,310 a year ago; for II months,
S25, ,53l ,069 VS.. S28, ,776,062.
Seab0ard Air Line net for October
was S690,357 VS.. S1,320,640; for 10
months, $7,710,611 VS.. sl7,661,172 a
year ago.
United States Smelling, Refining
e. Mining Co. earned 81 ,884,937 or 73
cents a share in II months ended
November 80 VS.. So ,625 1856 or S2.13 in
the same 1943 period.
Servel, Inc, net for II months
ended October 81 was 81 1853, ,730 or
96 cents VS.. S1,828, ,236 or S1.05 in the
previous year.
Aeronca Aircraft Corp. offering of
$4,000 shares Of cumulative con-
vertible preferred stock and $500
common shares was marketed by F.
Eberstadt & Co., the former at
$40 share and the latter at SIS.
New York, Chicago & St: Louis
Railroad Co. awarded $42000,000 of
refunding mortgage, series D bonds
to group headed by Halsey, Stu
art Co. on a competitive bid of
l00529 for a 334 coupon rate. The
bonds were reoffered at 102.
National Pressure Cooker Co. reg
iStered with the SEC 10000 shares
of 50 par value cumulative capital
stock to be sold at SIS share. They
will be offered present holders at
the rate of u shares for each share
now held.
General Foods Corp. directors au-
thorized calling of all 10000 shares
of $3.50 cumulative preferred stock
for redemeption January 81 at lot Z
plus $1,1212 a share in lieu of divi-
dends.
Best Foods, Inc, declared a divi-
dend of so cents a common share
payable January 20, first declara-
ton of the present fiscal year
ElectroluX Corp. declared a divi-
dend of Is cents a share, payable
January 30. Previous payment was
20 cents in December, 1941.
international Nickel Co. reported
production in 1874 will not equal
1943 because of labor shortages, but
will exceed that CT any peace time
year by big margin.
Pittsburgh Plate Glass Co. an
nounced its Columbia Chemical Di-
vision acquired the plant and sales
organization of Pacific Alkali Co.
Pere Marquette Railway Co
awarded a contract for construction
of 81 ,153 900 all-steel car ferry to
be used between Detroit and Wind
sor. Ont. to Manitowoc Shipbuld-
ing Co.