Evening star., 1944-07-02
Business Briefs

Consumer Credit outstanding al
the end Of May totaled 4,878, 900 GOO
a gain of nearly 10000, 900 from q
month earlier, but TO below year
ago, the Federal Reserve Board dis
| closed.
Department Stores Sales in May
/ were 20eo above a year ago. the
4 Census Bureau reported. Sales OF
independent retailers were up 10eo.
Other gains: Women's ready-to-wear
stores, 49,; florists, 22%; sporting
goods stores, 1917; dry goods and
general merchandise, 15%; mems
clothing stores, 149o.
Higher Interest Rates on Federal
Land Benk and Land Bank Com
missioner loans were provided by q
bill signed by President Roosevelt.
Rates were raised from 31a% to 495.
World Business Conference in
| vitations were sent out to business
representatives in Allied and neu-
tral countries. Meeting at Atlantic
City November 10 to l8, the confer
ence will be held under auspices
OF the American section of the In
ternational Chamber of Commerce,
the United States Chamber, the
NAM and the Foreign Trade Coun-
Gil
Higher Wholesale Prices were re-
f1ected by the Associated Press in
dex Of IS staples which closed the
week at 107.41, compared with l07.38
on Friday, 106.97 week ago. 106.97
month ago and 10591 year ago.
State and Municipal Financing
scheduled for the coming week
totals $20,372,00O, compared with
$4,440, 900 last week and weekly
average for the year to date of
1881 ,642, the Daily Bond Buyer
disclosed. On Thursday, eight local
housing authorities will open bids
on SIG, 9,632,0 900 of temporary loans.
WHY'S Overland Motors, Inc,
stockholders will vote July IL on
proposed options for Charles E.
Sorenson to purchase 100000 shares
of common at SO share. At the
close of the market yesterday the
stock was quoted at Sits a share.
The former Ford Motor executive
Is slated for election as president
and director at salary Of $4,000
year for ten years.
Brooklyn Union Gas Co. regis
tered with the SEC $12000,0O0 of
25-year sinking fund debentures to
be offered publicly for refunding
purposes. 1t also plans to sell pri-
vately $30,000,000 of general mort
gage sinking fund bonds, 3% %
series, due 1869. Its entire funded
debt will be refinanced.
Chicago, Milwaukee, St. Paul e.
Pacific r. r. and the Chicago, Rock
Island e. Pacific were authorized
by Federal Court at Chicago to seek
ICC approval of a $4,000, 900 bond
issue to reflnance, with other rail-
roads, the Kansas City Terminal
Railroad.
Wayne Pump Co. earned $346, ,283
or $l19 a share in six months ended
May 81, compared with $370,3l6 or
s1.28 in the same 1943 period.
Chesapeake Corp. of Virginia re-
ported net for the March quarter
was $178,987 or 80 cents a share VS..
S43,315 or 9 cents year ago.
Beatrice Creamery Co. earned
1912, ,744 or 68 cents a share in three
months ended May 81, compared
with S376891 or SO cents in the same
period last year.
KrOger Grocery g. Baking Co. net
for "a weeks ended June II was 81
29l $50 or $125 share VS.. $2,354,859
or $128 a year ago.
Rheem Mfg. Co. has acquired the
Atlas Steel Barrel Division of Beth
lehem Steel Co. at Bayonne, N. j.,
bringing the total of company plants
to IA.
Dresser Industries has proposed
acquisition of Information Stacey
Corp. through an exchange of stock.
Directors of both firms have ap-
proved the plan.
Higgins Industries. Inc, an
nounced that President Higgins
would go to Mexico City to confer
with Government and industrial
leaders on plans to establish a fac
tory in the Mexican capital
st. Louis Southwestern Railroad
was authorized by Federal Court at
ST. Louis to pay S3,906.l75 of accrued
interest on three hond issues