Evening star., 1944-09-21
Business Briefs

Bank Clearings in "a leading cities
totaled Sl0,859 ,236.000 in the week
ended September 20, compared with
S9,33l AIS, 900 in the previous week,
but we're 33oc below 81 ,230,942 600 in
the like 1943 period, reported Dun &
BradStreet. Inc
Cotton Spinning Operations dur
ing August were at 1889 of capac-
lty. on a tWo-Shift 80-hour week
basis. compared with 1857 in the
previous month and 1225os a year
ago, the Census Bureau revealed
Freight Loadings in the week end
ed September Is totaled 1872 1853 cars,
a gain of &C. from the previ.> S
week, but 1870 below a year ago.
the Association of American Rail
roads announced.
A Stock Exchange Seat sold at
$4,000, highest price since Novem-
Der 10, 1888, when a membership
brought the same amount Last
previous sale WAs for $4,000 The
current bid is $4,000 with $4,000
asked.
Special Offering of $4,000 shares
Of Norwich Pharmacal Co. at Sl3
a share was quickly oversubscribed
on the floor of the stock exchange.
Baltimore & Ohio Railroad direc-
tors approved new debt adjust
ment plan affecting obligations
amounting to 1852 100000 and ex-
tending maturity of issues totaling
s427 100000 ICC and court authori-
zation will be necessary.
Niagara Hudson Power Corp. re-
Celved designations of Chairman
Paul A. Schoeilkopf and two other
members of the board. who will de-
vote their time to reorganization of
the cOmpanys Western. New York
affiliate. Buffalo Niagara & Eastern
Power Corp MI Schoellkopf will
continue as chairman of B. N. e. E.
and president of Niagara Falls Pow
er Co.
Pennsylvania Central Airlines
carried $3.50 persons in August. an
increase of l0lE over a year ago
and a new record Airmail volume
rose to 5ll.934 pounds, a jump of
1870 over a year ago Air express
volume totaled 563673, a gain of
l0ro over year ago and a new
monthly record.
Lockheed Aircraft Corp. is nego-
tiating V credit of SITS 900 900
with Is large commercial banks to
meet current operating and termi-
nation needs, said c. A. Barker, jr.,
vice president
international Telephone & Tele-
graph Co. earned S4,310,457 in the
first half of 1914, compared with
1920 ,584 in the same 1943 period
May Department Stores Co. net
for six months ended July 81 was
$2,225,17 or S1.8l a share VS.. $685.
482 or $l.70 year ago.
Detroit Edison Co. earned S8,687,-
578 or Sl.37 share in II months
ended August 81 VS.. S8,50l,7 ISL or
Sl.34 in the previous year
Pere Marquette Railway net for
eight months ended August 81 was
S2,054,182 or S1834 a share on the
first preferred, compared with ST.
96l,870 or S26.44 a first preferred
share a year ago.
Northern Pacific Railway net for
seven months ended July 81 was
s5,ll2.8l0 or s206 a share VS.. S9,3lo.-
OIL or S375 in the same l943 period.
American Stores Co. sales for Au-
gust totaled Sl6,455 42l, a gain of
1857 from a year ago: for eight
months ended August 81, Sl41,823,
800, an increase of 67c,.
American City Lines acquisition of
30'o of the voting rights of Balti-
more Transit Co. was approved by
the Maryland Public Service Com
mission.
General Electric & Gas Co. is ne
gotiating with city officials of Co.
lumbia, S, c., for sale of its sub
sidiary, South Carolina Electric &
Gas Co., to the city for around $39,-
100000. The SEC ordered liquida-
ton Of the parent company's hold
ings.
United States Smelling, Refining
e. Mining Co. declared dividend of
25 cents common share, payable
October IA to holders of record Sep
tember 80. Previous payments were
so cents.
Froedtert Grain & Mailing Co. de-
clared quarterly dividend of 25
cents common share and a special
dividend of Is cents a common
share, payable October 81 to holders
of record October a.
Standard Oil Co. New Jersey
appointed Leo D. WEIGH treasurer
to succeed J. E. Crane, who was
elected a director. Mr.. WEIGH is a
vice president of the National City
Bank
B. r. Goodrich Co. elected Willis
=. Avery secretary. He has be IN
assistant secretary since 1896. j