Evening star., 1944-12-22
Business Briefs

Money in Circulation set another
record of $25, ,280, 900 900 on December
20. a Jump Of $4,000 900 from a
week earlier and $4.898, 900 900 above
year ago, the Federal Reserve
Board announced. Gold stocks to-
tailed s20,636, 900 900, drop of $751;
600 900 from a week earlier and ST.
1863 900 900 below year ago.
Cheaper Shoes Are Not Selling,
because the public is holding ration
coupons for higher priced footwear,
said Edward Atkins, secretary of the
National Association of Popular
Price Shoe Retailers. He urged a
temporary end to rationing of
shoes costing $3.50 or less.
Iron Ore Consumption in Novem-
ber sank to 6,882 500 gross tons, COM
pared with 1913, ,948 in October and
7,409 ,213 a year ago, the Lake Su-
perior Iron Ore Association revealed.
For II months, consumption was
80,156,816 tons VS.. 81,516,816 q year
ago
Freight Loadings in the week
ended December 16 totaled 749,883
cars, a drop of $50 from the pre-
vious week and 1870 below a year
ago, the Association of American
Railroads disclosed.
international Telephone & Tele-
graph Co. confirmed reports it is
considering sale of its telephone
properties in Spain. Manufacturing
properties are not included.
Northern Indiana Public Service
Co. sale of $4,000 900 of 21zT serial
notes in equal amounts to Chase
National Bank and Prudential In
surance Co. was approved by the
SEC. Proceeds will be used to re-
tire outstanding notes.
Louisville e. Nashville Railroad di-
rectors proposed a 2-for-1 stock
splitup to permit wider distribution.
A dividend rate of $3.50 annually
on the new shares would be equiva-
lent to the 81 paid on present stock.
Pullman, Inc, will acquire, for a
cash price yet to be determined,
the entire outstanding stock Of M.
w. Kellogg Co.
Columbia Gas g. Electric Corp.
filed with the SEC recapitalization
plan providing for single class of
stock to be offered for present pre-
ferred and common.
General Foods Corp. arranged to
borrow $25, 5000 900, of which s16,-
293,750 will be used to redeem 150,-
900 preferred shares, and the rest
added to working capital.
Majestic Radio g. Television Co.
called for redemption of %, ,528 con-
vertible preferred shares on Febru-
airy 28 at $40 share plus Is cents
in accrued dividends.
Firestone Tire g. Rubber Co.
earned $16,310,846 or $7.34 a share
in IL months ended October 81,
compared with SIS, ,183, 1888 or $500 in
the previous year.
Union Pacific Railroad net for II
months ended November 80 was
$36 6,056 $40 or $14.58 a share VS.. $40
916,230 or S1676 in the same 1943
period
Erie Railroad net income for II
months was $6,453,847 or S1.88 VS..
$8.308, ,433 or $2.63 a year ago.
Columbia Pictures Corp. profit for
three months ended September 80
was $380,000 or SO centssa share VS..
S482 900 or SLIT share in the same
period last year.
American La France -Foamite Corn.
declared special dividend of so
cents a share, payable January %,
first payment by the present COM
pany.
Utica e. Mohawk Cotton Mills,
Inc, purchased the Seneca mill and
mill village at Seneca, s. c. Grad
ual curtailment is planned at Utica,
N. Y.
Bendix Aviation Corp. announced
its Bendix-Ma-ine Division is con-
structing 60-foot ocean-going yes
sci to aid in developing instruments
Tor American ships.
E. w. Bliss Co. elected Delmar S.
Harder president and director.
NJ. Walter Thompson Co. elected
Don Francisco vice president and
director. effective February /.