Evening star., 1944-09-05
! Business Briefs

SVCCf WITH OpCIdtIOuS III UIle cur
rent week are scheduled at 855T
of capacity, indicating production OF
100 tons, the American Iron &
Steel Institute announced. Figures
for last week were 97.leo of capacity
and 1,7S9 300 TONS a month ago
97@o and 1,737,500; a year ago
100.3ao and 1,748, 200
Restrictions on Raw Materials
should be ended at the same time
that wholesale cancellations of wal
contracts go out, the National City
Bank declared in its monthly review
The bank excepted raw materials
which come from Japanese domi-
mated territory.
Crude Oil Demand in September
was estimated by the Bureau o.
Mines at 4.790,0O0 barrels a day. 6
rise of 401 800 barrels over the rate
for year ago.
Sugar Stocks held by primary dis
tributors have fallen to less thar
100000 short tons despite heavy
receipts Of raw sugar from Cuba ane
Puerto Rico in the first half of thi:
year. Stocks a year ago totalec
nearly ,4OO,OO tons.
Iron Ore Shipments from upper
lake ports in August totaled 1929
253 gross tons, a drop of 1,6885l1
tons or 1870 below year ago, the
Lake Superior Iron Ore Association
disclosed. For the season to date
shipments totaled 54,574,l5 a gair
of 2,214,681 or 1880 over year ago
Western Union Telegraph Co
stockholders approved issuance OF
24,600 900 of new convertible 20
year debentures to finance retire
ment of $25,O00,0O0 of So bonds
due 1851 New debentures would be
convertible into class A stock at not
more than 20 shares per $1,000 de-
benture in the first 10 years.
Chicago Union Station Co. was
granted ICC permission to issue
$4,000 900 of first mortgage, series
G, 27seo bonds and 100000 OF
guaranteed serial notes with ar
average annual interest rate oi
1897 to finance redemption OF
s44 1000. 900 of 3a4 % first mortgage
series E bonds.
United StOckyards Corp. asked
ICC permission to issue $500 900 O.
first mortgage 3s4 % bonds.
Dresser Mfg. Co. earned $182l,-
6S4 or s5.2l share in 9 month.
ended July 81, compared with ST.
274.455 or $679 in the same perioc
a year ago.
Burroughs Adding Machine Co
net for the first half of this veal
was S1,810,691 Or 36 cents share
VS.. $l,784,913 or IS cents in the same
1943 period.
Reynolds Spring Co. earned $315,-
1856 or Sill share in month.
ended June 80, before renegotiation
compared with $240,733 or 80 cent!
year ago.
Consolidated Coppermines Corp
net for months ended June 80 wa.
$l45 1874 or . cents a share VS.. $119,
800 or cents in the same 1874;
months.
American. Investment Co. Glli.
noisl earned $473,050 or 80 cents 8
share in 6 months ended June 80 VS.
$476,258 or 80 cents in the same 1874;
period.
Four Wheel Drive Auto Co. ne
for IL months ended June 30 wa!
$282, PAT or $446 share VS.. 1912 ,89I
In the preceding year.
Consolidated Vultee Aircraft Corp
delivered 1857 of all heavy bomber.
produced in this country in the frs
half of this year, President Harry
Woodhead reported. Leading al
other companies, deliveries were % q
above the second largest producer
and 43% ahead Of the third ranking
producer.
Phillips Petroleum Corp. ha.
leased 10000 acres in Alberta anc
will start wildcat oil test there thi.
week. 1t will be the company's firs1
Canadian venture.
Interchemical Corp. acquired the
Murphy Varnish Co. and changed
its name to Murphy Finishes Corp