Evening star., 1944-01-25
Business Briefs

demand DepOSitS III DdllhS VI iul
leading cities totaled S34 1862 900, 900
on January 10, a gain of 1854 900 900
from week earlier and S., 800 00O,-
600 above year ago, the Federal
Reserve Board reported. Loans for
commerce. industry and agriculture
totaled s6349 100000, a drop of
100000 from a week earlier and
S187 100000 above a year ago, Hold
ings of Government obligations to-
tailed S36 ,352, 100000, a gain of S208,-
100000 from a week earlier and
S8,OO5 100000 above a year ago.
Cash Dividends of American COM
panies in l943 totaled SO Sal 400 600
compared with S3,528 100000 in
1912 and S5,944 100000 in 1929, the
Commerce Department announced
Record Alloy Steel Production OF
13.l16.0O0 tons was turned out in
l943 a gain of 14ot over the pre-
vious high mark of ll,526,000 set in
1912, the American Iron & Steel
Institute disclosed.
Controversy Over Federal Re-
serve Board Ruling against member
banks absorbing exchange charges
developed further before the House
Banking and Currency Committee
when R. P Holding, North Carolina
banker, said the regulation lis just
one more way of saying private
business should cease The COM
mittee is considering a proposed
amendment to the Federal Reserve
Act, which would nullify the board
ruling The proposal was opposed
vigorously by an attorney for the
board yesterday.
The Lumber Situation Will Grow
Worse in the next few months and
there is no backlog from which to
draw. said Don A. Campbell. deputy
chief of the marketing control
branch of the WPB, in an address
before the Northeastern Lumber
mems Association in New York.
Department Store Sales in the
New York Metropolitan Area last
week were 7oc above year ago, the
Federal Reserve Bank of New York
revealed This was much larger
gain than in recent weeks
Pennsylvania Central Airlines cer-
ried 4,547, ,709 pounds of mail in 1943,
a gain of $50 over 2,.872,72l in 1912.
Express volume totaled 4,357,938
pounds, an increase of 81% over g.
407 PIT in 1912. The percentage of
scheduled miles flown rose SO from
90fd to 95qo and revenue passengers
carried per mile increased 28qo. The
passenger load factor climbed 1870.
Norfolk & Western Railway re-
ported l943 net income of S22 1877
249 ior S15.l4 a share, compared with
s21 p08,764 or S1493 a share in 1943.
December net was $2,506 ,295 against
2.4p0062 in the 1912 month.
Chesapeake & Ohio Railway re-
ported l943 net income of S3l ,358,-
660J or S404 a share on a gross of
s203,5l2,53 compared with S33 ,153,-
437 inet, or S425 a share on gross
of S18l ,809,762 in 1912. December
net, was $2,582,618. or "a cents a
share on S18,069 ,802 gross, compared
WITH SIS, 5,402,321, or 70 cents a share
on SIS, 1884 gross in the same 1912
month.
Crane Co. renegotiation of 1912
contracts has resulted in a refund
to the Government of S4,250,00O and
reduced profits to S3,962,927, COM
pared with s4,824.603 previously re-
ported.
Consolidated Vultee Aircraft Corp.
reported that renegotiation of con-
TRACTS for the fiscal year ended
November 80 left S12,551,0l1 net in
come, equal to $8.86 common share.
OF .the total, $5,7Oo,0o0 or SAIL a
share was set aside as a reserve
for postwar contingencies.
Texas g. Pacific Railway reported
1943 net of S6,155,859 or S12.82 a
shate, compared with $9,OO3,541 or
S20.l7 a share in 1912. December
net was s5O8,457 against s1,2O5, $40
in the same month of 1912.
Al