Evening star., 1944-08-25
Business Briefs
Money in Circulation totaled $23..

Money in Circulation totaled $23,-
047,000,000 on August %, an in
crease of $27,000,0O0 from a week
earlier and S4,744,0 ,000,0 above a
year ago, the Federal Reserve Board
reported.
An Important Tax Decision came
from the Circuit Court of Appeals
In New York, which ruled that in
terest on bonds issued by the Port
Of New York and Triborough Bridge
Authorities is exempt from Federal
income taxes.
A Drop in Butter Supplies this
fall will create 'the most critical
situation in the history of the in
dustry," predicted DR.. H. A. Ruehe,
secretary of the American Butter
Institute.
Montgomery Ward & Co. declared
a SITS dividend on class A stock,
payable October 2 to holders of
record September s, and quarterly
common dividend CT so cents, pay
able October Is to holders of record
September 8.
Union Pacific Railroad earned
SSO,COC,G1O Va pO.O4 a III VIC
first 7 months of 1914, compared
with $27,280,06l or $1l.23 a year ago.
Creole Petroleum Corp. net for
the first half was $31 300 900 or $l.l9
a share VS.. $10,600 900 or 40 cents in
the like 1943 peeriod.
Sperry Corp. earned s4.413,287 OF
$219 a share in the half VS.. $4,242,
8l3 or $2.ll in the same period last
year.
Twentieth Century Fox Film
Corp, including National Theaters
Corp. and Roxy Theater, Inc, re-
ported net of $6.338,433 or $3.l2 a
share in the half VS.. $3,843,249 OF
$l81, excluding those firms, in the
same 1943 period. Net for the two
firms would have raised the 1874;
figures to $5,535,279 or S2.78 year
ago.
American Chain g. Cable Co
earned 81 sol ,3l4 or SLAB share ir
the half, after reserve for renegotia-
ton, compared with $2,233, ,493 OF
$212 in the same 1943 period.
Sunray Oil Corp. net for the hall
was $640,0l6 or 81 cents share VS.
$446 IT'S or 20 cents on fewer shares
a year ago.
National Power g. Light Co
earned $786,85l or IA cents a share
in the June quarter VS.. $1,108,35
or 16 cents in the like 1943 period
First National Stores, Inc, net
for three months ended July / was
$500, ,527 or u cents VS.. $533 ,557 or 65
cents year ago.
Truax Traer Coal Co. earned
$303,874 or 81 cents in three months
ended July 81 VS.. $195 900 or 80 cents
in the same 1943 period.
Southern Railway Co. net income
for July was $l,573 ,402 on a gross
of S2l,621.7l5 VS.. $l,983,522 on 9
gross of $2O,336.962 in the same
month last year.
Standard Accident Insurance Co
plans to enter the fire insurance
field through new company to be
organized for that purpose. Stock
holders will vote on the plan early
in October.
Pittsburgh Coal Co. purchased al
capital stock of Glover Splint Goa
Co., Closplint, KY, and will operate
the property as a subsidiary.
st. Regis Paper Co. purchased
261, ,589 common shares of Skenandoa
Rayon Corp. or more than 75To OF
the total at $40 share and offered
to purchase the remainder at the
same price until September 30.
Allegheny Ludlum Steel Corp. di-
rectors decided to retire outstanding
10 preferred shares on December !
at $40 q share plus accrued divi-
dends.
Arkansas Power e. Light Co. di-
rectors approved a refunding pro-
gram expected to save 81 900 900 in
interest annually.
Allis- Chalmers Mfg. Co. purchased
the Government-owned American
Radiator plant in Springfield, III.
for 1908, SAT, after operating 1t for
the Government since l942.