Evening star., 1944-09-20
Business Briefs

Electric Power Consumption rose
to 1894 ,839 900 kilowatt hours in the
week ended September Is, COM
pared with Apt 100000 in the pre-
ceding week and was &C. above
4,358,5l2,000 in the like l943 week.
reported the Edison Electric Insti-
tute.
Demand Deposits of member
banks in l0l leading cities totaled
S35 1895 100000 on September l3, a
gain of S426,000,0O0 from a week
earlier and s3,033 100000 above a
year ago, the Federal Reserve
Board disclosed Holdings of Gov
ernme1t obligations totaled S4l.1l3.-
100000 drop of 1888 100000 from a
week earlier, but s5,529, ,oOO, 900 above
a year ago.
New York, Chicago & st. Louis
Railroad directors approved a s.
year collateral loan of $4,000 900.
Proceeds would be used with S.
100000 of treasury cash to paw off
the roads 15,188,O00 extended first
SIPS, due October /, l947, and re-
deemable on 80 days notice at lOl
Birmingham (AIa.) Electric Co.
plan to issue s1O,OOOOO0 of first
mortgage bonds, due 1874, to finance
redemption of Sl0,00O,OOO of first
mortgage and refunding gold bonds
OF 1868 at 1917, was approved by
the SEC. Period for inviting COM
petitive bids was shortened from 10
TO days
Western Union Telegraph Co. de-
ferred plans for $25 ,O00, 900 deben-
ture refundlng program after the
New York State Public Service Com
mission ruled that the program was
not exempt from the commission's S
jurisdiction.
Montgomery Ward & Co. earned
1881 ,736 or Sl39 share in 6
months ended July 81, compared
with s7,305.l93 or sl.26 in the same
ls43 period.
Caterpillar Tractor Co. net for II
months ended August 81 was $1,000. =
1893 VS.. s8,804118 in the previous
year. Profit for August was s627 877
VS.. $8l7,493 a year ago.
American Shipbuilding Co. earned
s492,940 or 1886 share, after re-
serve for renegotiation. in II months
ended June 80, compared with $685.
3lO or s4.35 in the previous year,
before renegotia alton.
EverSharp, Inc. net for 6 months
ended August 81 was $5l2.368 or
1881 share VS.. s183,87O or S1,24 in
the same 1943 period.
Mandel Bros, Inc. earned $l25.-
802 or 43 cents share in months
ended July 81 VS.. $133. .461 or 46 cents
in the same period last year.
Seaboard Air Line Railway net
for 7 months ended July 81 was S.
765,317 VS.. sl4,l03,273 a year ago.
Pullman Standard Car Mfg. Co
Is negotiating for acquisition of M
w. Kellogg Co., s25, ,O00, 900 industrial
and contracting firm.
Southern Union Gas Co. plan tc
divest itself of property by creating
subsidiary, Texas Southeastern
Gas Co., and distributing the new
firms common to holders of the
parent company was approved by
the SEC. Texas natural gas proper
ties will be, sold to Southeastern fo1
$4,000
Jones & Laughlin Steel Corr
organized a new subsidiary, Jones
IL Laughlin International Co., to
act as sales representative in Brazil
BURY Biscuit Corp. formed two
subsidiaries, Poly Clene Co. and
Lucident Co., to. distribute cleaning
and polishing preparations, oral hy-
giene products, household de-
odorants and cosmetics.
Mcclellan Stores Corp. stock
holders voted to reclassify the 81
preferred stock into so preferred
after November /. Redemption price
was reduced from $110 to $l05 a
share
American Airlines appointed F. G
Malbeuf assistant director of public
relations
West Virginia Pulp e. Paper Co.
elected William j. Bailey vice presi-
dent. He Is general traffic manager.