Evening star., 1944-09-08
Business Briefs

Money in Circulation totaled $23,-
432,000,000 on September 6, an in
crease Of $21l 100000 from a week
earlier and s4,692, ,000, 900 above a
year ago, the Federal Reserve Board
reported Gold stock declined to
$40, ,906. 900 900, a drop of 100000 900
from a week earlier and $1,317,0O
600 below a year ago.
Gasoline Stocks declined to TO-
921 900 barrels on September q,
compared with 80,74O,OOO a week
earlier and 70,552,000 a year ago, the
American Petroleum Institute dis
closed. Supplies of light and heavy
fuel oils increased in the week,
while crude oil production decreased
slightly.
Chain Store Sales and mail order
volumes totaled $1,000, 600, 900 in
July, drop of SO from the previ-
Gus month, but SO above a year
ago, the Commerce Department re-
vealed. The decline from June was
much less than seasonal.
Freight Loadings in the week
ended September 2 totaled 898, ,450
cars. a drop of 80 from the previ-
GUS week and go below a year ago,
the Association of American Rail-
roads announced.
United Gas Corp. reorganization
plan was approved by the SEC. The
firm will issue 100000, 900 of first
mortgage bonds and more than
sl06,000,000 of new $40 par-value
common. The new bonds have been
exempted from competitive bidding
and are expected to be sold privately.
Central Railroad of New Jersey
will establish an independent oper-
ating unit in Pennsylvania shortly
to take over all lines and traffic west
OF the Delaware River in an effort
to escape high" Jersey taxes.
Central Vermont Public Service
Corp. registered with the SEC 1886
shares of Al % 500 par value pre-
ferred stock to be offered in ex-
change for s6 preferred shares on q
share-for-share basis, plus cash.
Montgomery Ward & Co. sales in
August were $52 ,208,0 ,040, a gain of
10eo over a year ago: in 7 months
ended August 81, $685., ,507 ,586, a drop
of 49Fo from a year ago.
w. T. Grant Co. earned 81, ,263, ,998
or 81 cents share in 6 months
ended July 81, compared with ST.
099032 or rs cents in the same 1943
period.
National Department Stores Corp.
profit for months ended July 81
was $758,000 or Slab a share vs..
s790,765 or $l55 in the same months
last year.
Peter Fox Brewing Co. earned
s6O7 209 or $4.86 a share in IL
months ended June 80, compared
with $325,643 or $261 in the pre-
vious year.
Pennsylvania Power e. Light Co.
reported net income of $5, 5,607 500 in
IL months ended July 81, compared
with $6,082 ,56l in the previous fiscal
period.
Sylvania Electric Products, Inc,
has arranged with the Guaranty
Trust Co. of New York and the
First National Bank of Boston to
substitute q VT loan agreement tor
its former v loan and increase the
permissible borrowing from $10,-
900 900 to $4,000 900.
S. H. Kress Co. called its special
preferred stock for redemption on
December IA at $11 a share.
City Investing Co. stockholders
will vote September ~ on a plan
to reclassify its 10 preferred stock
and 500 par value common shares
into new 5hTo preferred and new
common.
Associated Electric Co. sale of
Midland Light g. Power Co.
for three electric co-operatives for
= base price of $2,115,000 was ap-
proved by the SEC.
Bethlehem Steel Corp. has re-
eeived an order for 21,300 tons Of
steel rails from the Delaware &
Hudson Railroad.