Evening star., 1944-06-28
Business Briefs

Electric Power Production in the
week ended June "A rose to 4,325,-
At 900 kilowatt hours, compared
with 4,287 ,251 900 in the preceding
week and was 5T above year ago,
the Edison Electric Institute re-
ported.
Demand Deposits of member
banks in 101 leading cities totaled
$36, ,426 ,000, 900 on June 81, decline
Of 46o3, ,000, 900 from q week earlier
but $3,954, ,000, 900 above a year ago
the Federal Reserve Board disclosed
Holdings OF Government obliga-
tions aggregated $37 1892 ,000, 900, a
jump Of $573 900 900 from a week
earlier and $5,2ol ,00o, 900 above q
year ago.
Domestic Pulpwood Receipts al
the mills in May expanded to 1916
ATT cords, gain Of 3l% over q
year ago, the War Activities Com
mittee Of the Pulpwood Consuming
Industries revealed.
United States Leather Co. called
for redemption 9,2e0 shares OF prior
preference stock on September 80 al
x110 . share and accrued dividend
Redemption will leave 10000 shares
outstanding.
York announced purchase of $l62,-
500, 900 Of war bonds.
Lehigh Valley Railroad elected
Felix r. Gerard president to succeed
r. w. Brown, who will become presi-
dent of the Reading co. Mr.. Gerard
has been vice president and general
manager.
Ontario & Western Railway Co.
trustee received authority from Fed
eral Court at New York to substitute
diesel-electric engines for the road s
present steam locomotives at a cost
Of around $6,700,000 The trustee
also was authorized to negotiate q
loan to effect the purchase.
Louisville & Nashville Railroad Is
considering refunding three bond
issues totaling $54, ,000, 900, the series
B-5s, series C-4hs and series D-4s
all Of long term maturity and nov
selling within close proximity of the
call price of los.
Reading Co. net for May was 81, :
297, ,4s7 VS.. 81 ,608 ,068 a year ago: fol
five months, $6,386,542 VS.. So, ,767 ,223
American Fork e. Hoe Co. net fol
IL months ended April 80 was ST..
124,506 or $l78 share VS.. 1926, "a
or $1.39 in the previous year.
Sperry Corp. earned 1882. 2.343 o.
a ct tv1 Il .sxt
$5,777, ,961 or $2.87 in 1912. Shipment
of $3.50, ,006, ,689 were double in tn,
preceding year after allowing fo
price changes
Collins & Aikman Corp. net TO,
three months ended May n wa
SAT- 1854 or II cents a share VS.
$366,z48 or 56 cents in the sam,
period last year.
Inland waterways Corp, operated
by the Government, reported net in
come Of $l78,0l2 in le43, compared
with q deficit Of $726, ,492 in the pre-
vious year.
Chicago d North Western Rail
way reported May net OF 2,206, 90,
vs.. $2,847,030 year ago: NV,
months net Of $s,so9, AT VS.. 3l2,
291, ,3e7.
Southern Bell Telephone 4 Tele
graph Co. at Memphis would b.
taxed 40 on gross receipts for Il
years and So on receipts for tn
next five years under an ordnanc
passed by the City Commission. TIL
city would receive free telephon
service and some $4,000 in pol
rentals.
Atlas Drop Forge Co. stockholder
rejected Spicer Mfg. Co. offer t,
buy fixed assets and inventories O
the firm.
Northern States Power Co. plal
TOT liquidation should be amended +
eliminate inflationary items in prop
erty accounts and simplify the cor
porate structure before 1t is ap
proved, the public utilities divisio
o. the SEC recommended.