Evening star., 1944-01-17
Business Briefs

Technical Advances which have
made possible industry's production
record during the war foreshadow
difficulty in providing full employ
ment after the war, the Russell Sage
Foundation said in report on
Technology and Livelihood" As
serting that the volume of job op-
portunities had failed to keep pace
with expanding production, the
Foundation suggested that social
adjustments would be necessary be-
cause of the present situation.
Copper Output of domestic mines
totaled 1.O87 $40 tons during 1943, a
new record beating the 1912 figure
of 1,080,061 by an eyelash, the Bu-
reau of Mines announced on the
basis of preliminary data. Arizona
contributed 37oo of the total; Utah
800; Montana, 1870; New Mexico
TO- Nevada. SO; Michigan, 40
and the other States, including
Alaska. the remainder.
Furniture Production in 1914 will
drop $3.50 lower than in 1943, indus
try officials told dealers arriving for
the annual furniture shows at Chi
cago Acute manpower and lum-
ber shortages will cause further cur
tailment, they said.
Silver Consumption in the United
States in 1943 was more than foul
times the average amount for the
five years prior to 1941 and about
$50 went into war production or
for purposes classified by the WIPE
as essential, reported Handy &
Harmon in an annual review of the
industry. The years consumption
was estimated at 125 100000 ounces
a gain of go over the previous
high of lis 100000 set in 1912.
Bank Earnings will improve fur
ther in 1914, but the rate is likely tC
slow down largely because most
banks will be subject to rising in
come tax payments, reported United
Business Service. Earnings of 10
leading institutions in 1943 showed
an average gain of 1870 over 1912
and this was representative of the
entire nation, the service added.
West Virginia Pulp g. Paper Co,
offering of the unexchanged portion
of an issue of 155, $3.50 shares of Az %
cumulative preferred stock was
placed on the market by a group
headed by Hartman Ripley & Co.
The $500 shares were priced $1O5
a share plus accrued dividends.
Elastic Stop Nut Corp. offering OF
s3.500,0O0 l5-year SO sinking fund
debentures, due 1859, was put on the
market by banking group headed
by H. NJ Byllesby & Co. and La
denburg, Thalman & Co. The deb
entures are priced to the public al
100To, plus accrued interest.
Atchison, Topeka & Santa Fe
Railway reported November net in
come of s6,470,128. compared with
$8.643,596 in the same 1912 month
Net for IL months ended November
80 was $50, ,708,857 or $18.55 a share
against $64,305 ,321 or $24.l5 a share
in the same 1912 period.
Sparks Wilmington Co. earned
$469,673 or 81 cents common share
in. six months ended December 81
1943, compared with 1892, ,4O6 or AZ
cents a share in the same 1912 pc
riod.
Detroit Edison Co. net income fol
1943 would be reduced about $1,000.
900 If ordinances taxing 300 of gros.
revenues. adopted by the City of De.
troit and othre municipalities, are
found valid. said President Alfred C
Marshall. Validity of ordinance.
doubtless will be tested in the courts
he declared.
National Airlines carried 38To more
revenue passengers in 1943 than ir
1912, declared H. S. Parker, jr., vice
president.
National Life Insurance Co. report
ed $64l ,482 1866 of insurance in force
on December 81. an all-time high
which was sat. 6.494,4 above volume
at the end of 1912.