Evening star., 1944-02-29
Business Briefs

Demand DepOSltS IN member DdnkS
of 10l leading cities totaled $31,-
902 ,000.0 900 on February %, gain of
1898 000, 900 from a week earlier and
S773,000,000 above a year ago, the
Federal Reserve Board reported.
Holdings of Government obligations
totaled s38, 8,755, 100000, decline of
$484 900 900 from a week earlier, but
s10,3170O00 900 above a year ago.
A Treasury Exchange Offer to be
made formally on March will pro-
vide for refunding of three Treasury
issues, two Federal Farm Mortgage
Corp. issues, RFC notes and an
HOLC bond issue.
American Distilling Co. Rain stock
was suspended from dealings on the
New York Stock Exchange, pending
receipt of documents relating to ex-
tension of the firms whisky distri-
button plan. The action had no
effect on the stamped shares.
Consolidated Edison Co. of New
York authorized redemption on
April at par and interest of the
remaining $15,000,000 outstanding
3H % debentures, due in 1916.
Pennsylvania Railroad stockhold-
ers were told by President M. W..
Clement that present methods for
computing excess profits taxes of
railroads mot only deprive the
roads of a reasonable return on
their investment, but also menace
the future of the industry" The
road will retire $5,646, 900 of United
New Jersey Railroad g. Canal Co.
50-year- -old 40 general mortgage
bonds on March /.
Freeport Sulphur Co. reported
1943 net of $2,483,4 ,465 or $3l0 a
share, against s2,436,655 or S3O5
in 1912 A subsidiary, Nicaro Nickel
Co., with plants in Cuba and Will
mington, Del, has started produc-
tion of nickel
Mesta Machine Co. earned $2,761,-
500 or $2.76 a share in 1943, COM
pared with $2,885, 1853 or s2.88 a share
in 1912.
Crown Zellerbach Corp. net for nine
months ended January 81 was
$5,656,174 or $1.62 a share. compared
with $5,327, ,483 or $1.48 for the same
period a year ago.
Eaton Mfg. Co. earned $3,553, ,469
or $519 share in l943, compared
with $3,030,618 or $3.50 share in
1912. Sales before renegotiation to-
tailed $132, ,383, ,344 against $84, OBJ 1854
in the previous year.
Lima Locomotive Works, Inc, re-
ported 1943 net income of $1,567 ,648
or $7.43 share against 81 l,643, ,451
or $7.78 in 1912.
Quaker State Oil Refining Corp.
earned $1,150,317 or $1.24 share in
1943, compared with $l,298,265 or
81 40 in 1912.
American Stores Co. net for l943
was $1,709,084 or $1.3l a share
against $2,008.865 or $1.54 in the
previous year.
Victor Chemical Works net for
1943 was $1,147,605 or $1.53 a share
VS.. $1,000,870 or $1.34 in 1912
Bullard Co. profit for 1943 was
$l,257,280 or $4.55 VS.. $346,016 or
$3.43 in previous year.
A. HOllander e. Sons, Inc, earned
$572,582 or $273 a share in 1943
against $345. $40 or $1.65 IN .942.
Southern Railway Co. declared a
dividend Of 81 common snare out
of surplus and net profits for 1943,
payable April to holders of record
March IL. A similar payment in
l943 was the first since 1881.
E. 1. du Pont de NemOurs & Co.
will build big postwar nylon plant
near Chattanooga, Tenn. Options
have been obtained On land along
the north side of the Tennessee
River northeast of the city.
Houston Lighting & Power Co.
stockholders authorized sale of co.
600 shares of new $4 preferred stock
to raise additional working capital.
The plan is subject to SEC approval.