Evening star., 1944-09-15
Business Briefs
Money in Circulation totaled

Money in Circulation totaled S23,-
495 100000 on September 13, gain
of S63 100000 from a week earlier
and S4,722 100000 above year ago,
the Federal Reserve Board reported.
Gold stock totaled S20,885 900 900,
drop of S21 100000 from a week
earlier and sl,3l9, 100000 below a
year ago.
Freight Loadings in the week end
ed September totaled 1875 ,953 cars
a drop of 81 per cent from the pre-
vious week and l per cent below a
year ago, the Association of Ameri-
can Railroads revealed
Gradual ReconversiOn Plans have
been outmoded by the tempo of the
Allied advance in Europe, declared
Brig. Gen. Leonard P. Ayres. Cleve-
land Trust Co. economist. The
plans begin 70 look sadly theoreti-
cal, he said.
Cotton Consumption in August
totaled BAL 400 bales of lint and
125,063 of linters, compared with
.724, 167 and 136,726 in the previous
month and 843l87 and 107,975 a
year ago, the Census Bureau dis
closed.
$3.50 900, 900 Must Be Spent fol
new equipment in the milk anc
dairy products industry in the first
3 years of postwar operations, the
Milk Industry Foundation estimated
Ohio Edison Co. recapitalizatior
plan was approved by the SEC. II
provides for sale of $30,962 900 o1
first mortgage bonds of 1874 ane
10000 shares of 500 par value
preferred stock. The company alsc
will sell $10,00o,000 of "a % install
ment notes to IA banks.
International Telephone e. Tele.
graph Corp. was informed it's fac.
tories and plants in Paris and Blu.
charest escaped unharmed from the
war and were prepared to help re.
store communications and supply
radio equipment for Allied needs.
American City Lines, Inc, agreed
to Maryland Public Service Com.
mission order which would limit
them to purchases of 300 of Bal.
timore Transit Co. securities. Tht
Chicago firm said it had no desire
to take over control of the Balti-
more company,
Standard Oil Co. of California
earned 1874 ,245 or rs cents a share
in the June quarter, compared with
S8,726,3 1897 or 81 cents in the like 1874;
period. Net for the first half was
$17,616,852 or S135 VS.. SIS, 1876, ,633 OF
$l.16 a year ago.
Merck e. Co., Inc, net for the first
half of 1914 was $l,337 ,585, or $10s
share VS.. $2,106, l26, or $l86 a yeal
ago.
Four Wheel Drive Auto Co. profit
for IL months ended June 30 was
$828.246. or S446 a share, reported
President Walter A. Olen, who was
reelected with other officers.
Pennsylvania Railroad has under
construction powerful new steam
locomotives capable of drawing l2s
loaded freight cars at speeds ir
excess of so miles an hour. One
already has been delivered and q
others are being built at the Altoona
works
Chesapeake & Ohio Railroad
asked ICC permission to issue ST.
100000 equipment trust certificates
to help finance purchase of II
freight locomotives.
Chicago & North Western Rail.
way awarded s5,180,000 of equip.
ment trust certificates, with ma.
turtles ranging from l to 10 years
to Halsey, Stuart & Co. The bic
was 99.229 for a 1'4 % coupon. Re.
offering prices were scaled to yielc
go to 2.10oo.
Socony- Vacuum Oil Co. elected B
Brewster Jennings president to sue
ceed the late John A. Brown. Harold
F. Sheets, a vice president, was
elected board chairman.
Cudahy Packing Co. elected FREQ
w. Hoffman president to succeed
E. A. Cudahy, who became chair
man of the board. Mr. Hoffman has
been vice president and manager OF
the pork division.