Evening star., 1944-06-22
BusinessBriefs

Bank Clearings in % leading cit
les set 14-year record of $l1, 1,372,-
9o5,000 in the week ended June q as
result of War Bond payments and
active security markets, reported
Dun g. Bradstreet, Inc. Volume was
S2,635 .638, 900 above the previous
week and 25.5% above the like 1943
period.
Freight Loadings in the week
ended June IL totaled 879, ISL cars, q
gain of 60 from the previous week
and 1870 above the like 1943 week,
the Association of American Rail
roads announced.
Phoenix Securities Corp. stock
holders approved plan for liqui-
dation and dissolution proposed sew
eral months ago by directors to re-
duce tax liabilities of holders.
Shares of Pepsi-Cola, United Cigar
Whelan Stores and South Shore Oil
& Development Co., which are the
firms major assets, will be distrib-
uted at specified rates.
Special Offering of $4,000 shares OF
Paramount Pictures common by
Merrill Lynch was oversubscribed
quickly on the New York Stock Ex-
change at 281a. Offering of 10000
shares of du Pont common was mar
keted by Smith, Barney & Co. and
Laird, Bisseu g. Needs at $156.50 a
share.
United Air Lines reported mail
ton-miles in May totaled 1855 ,768, a
gain of 82% over a year ago. A
five months total of 6,508,695 was
$50 of the volume for all of 1943.
Express ton-miles in May totaled
321 ,554, rise of 81 over year ago.
international Telephone & Tele-
graph Corp. earned So, ,340, 1886 in the
March quarter VS.. 81 ,247,957 a year
ago Accounts of certain foreign
subsidiaries and those in Axis con-
trolled countries were excluded
United States Smelling, Refining
& Mining Co. reported net of ST.
- 174,l76 or SO cents a share in five
months ended May 81, compared
with $1,l44,336 or 81 cents in the
same 1943 period.
Singer Mfg. Co. net for l943 was
s13,611 TOT or s15.l2 share VS.. Sl2,-
1884 or $14.2l in 1912.
Commonwealth e. Southern Corp.
earned S5,365, ISL or 1882 a pre-
ferred share in five months ended
May 81, compared with S6,080,317
or S4.l0 a preferred share year
ago. Stockholders approved a pen
sion plan for veteran employees
Detroit Edison Co. earned $9,158,-
566, or $l44 a share in IL months
ended May 81. compared with S8,-
485 .329, or 81 .33 in the previous year
New York, Chicago & st. Louis
Railroad reported net income of ST.
901 ,951. or 1921 a preferred share ir
five months ended May 81, compared
with 1886, ,297, or S10.78 preferred
share in the same l943 period.
Continental Motors Corp. earned
S2,6e6, 1876 or so cents a share in six
months ended April 80, compared
with S2,992, 1856 or 81 in the same
l943 period.
Continental Foundry e. Machine
Co. net for IL months ended No
ven1ber 80 was $2,049 Isl or S. "A a
share, before renegotiation, COM
pared with revised profit of $2,250,-
205 or S. in the preceding year.
Chicago, Milwaukee, st. Paul &
Pacific Rwy. modified plan for re-
organization was approved by Fed
erA Judge Michael l.. Igoe at Chi
cago. He will sign a confirma tior
order June 80, he said.
holly Sugar Corp. stockholder
approved an amendment to article
Of incorporation increasing tn
number of directors from seven t,
nine.
Southern Indiana Gas g. Electri,
COasked the SEC to approve ,
S2I64 1856 reduction in stated capita
represented by its common stock il
compliance with an order by tn
Indiana Public Service Commission
American Home Products Corr
has completed negotiations to &C
Quire the Prescott Paint Co.