Evening star., 1944-06-20
Business Briefs

Cost OF Living Index OF the Ma
tienal Industrial Conference Board
for May stood at 104.4. compared
with 1o41 in April and 104.2 year
ago.
No Revolutionary Auto Designs
will follow the war, predicted Harry
j. Klinger, general manager Of Gen.
eral Motors Pontiac division. 1T
takes long time to sell any inno-
vation,' he said. Public taste
moves like. the tide and if you get
ahead of it. you lose it
clothing is shaping up to plague
civilians this summer, according to
the Wall Street Journal. While
warmer weather promises to cut
efficiency of laundry services, sup
plies of cotton cloth are becoming
increasingly scarce.
Cotton Spinning Operations in
May were at 1897 of capacity, COM
pared with 1249To in the preceding
month and 1341fo year ago, the
Census Bureau reported.
Steel Labor Costs required &c
cents of every dollar taken in by
the industry in l943, compared with
3612 cents of each dollar in 1912
the American Iron & Steel Institute
estimated. After all other expenses
the industry had only 212 cents
left of each dollar in 1943, COM
pared with 81 cents in 1912.
Colts Patent Fire Arms Co. was
notified by the War Department to
expect a 400 cutback in orders for
50-calibre machine guns and will
release 5000 workers by July 5
when the new schedule starts.
Atlas Drop Forge Co. stockholders
will vote June 26 on proposed sale
of their company TO Spicer Mfg. Co
Universal Pictures Co., Inc.
earned S1,833,945 or S302 a share
in 26 weeks ended April %, COM
pared with 1883 $50 or S306 in the
like 1943 period.
Allied Stores Corp. net for three
months ended April 80 was 81 SCI
297 or 73 cents share, compared
with Sl,635 ,056 or rs cents a yeal
ago
Ell Paso Electric Co. of Delaware
will present its liquidation plan at
an SEC hearing July 5. Stockhold-
ers will vote July 6.
Seaboard Air Line Railway re-
ported net of S3.592.9l8 in -four
months ended April 80, compared
with Sl0638,ll2 a year ago.
Caterpillar Tractor Co. earned So
O33,052 or Sl6l a share in five
months ended May 81, compared
with s2730,330 or sl45 in the same
l943 period.
Erie Railroad reported net income
Of $4,000 .094 or 96 cents a share II
five months ended May 81, com
pared with s4,961 ,962 or Sl.69 II
the same period last year.
Texas Pacific Missouri Pacific
Terminal r. r. of New Orleans plan
20 sell s6,040 900 of 3&s % mortgage
bonds, series A. due 1874, at l00.87s
plus interest, was approved by the
ICC. Proceeds will be used for re-
funding.
Massachusetts Investors Second
Fund Inc, reported asset value OF
s1060 share on May 81, gain OF
60 over $40 share on February %
The average for year ago was
SlUUl snare.
Rheem Mfg. Co. sold $4,000, 900 OF
3&4 n debentlres. due 1854, to q
group of nine banks and insurance
companies through Blyth e. Co
Proceeds will be used 70 pay $625 00(
in term bank loans and retire ST.
200 600 of 312" 15-year debentureS
due 1856, at l0l "a r.
Two-Way Radio on Freight Trains
will be of great value. particularly
in stormy weather, said the engineer
OF the Santa Fe's "spud special
first transcontinental train to USE
such equipment, which reached
Chicago after 2,200-mil triy
from California with load of pota.
toes, BendiX Radio Division in
stalled the equipment.