Evening star., 1944-10-04
Business Briefs

Electric Power Consun7ptiOn de.
clined 10 4,365;907 900 kiloWatt hour.
in the week ended September 80
compared with 4,377, ,339 900 in the
previous week and was only 81
above 4,359, ,003 900 in the like 1874;
week. reported the Edison Electric
Institute. u.
Demand Deposits of member banks
in 10l leading cities totaled S35 ,435,-
100000 on September 27, drop oi
S87 10000 from a week earlier, but
s4,834, 100000 above year ago
Holdings of Government obligations
totaled $40, ,73l 100000, decline OF
sl29, 100000 from week earlier, but
S4,52f ,00000 above year ago.
Arkansas Power e. Light Co. Of
fering of $30.000,000 first mortgage
20 bonds, due 1874, was marketed
by Halsey, Stuart g. Co. and asso-
ciates at 104 plus interest. Proceeds
will be used for refunding purposes.
S34,218,000 of Housing Notes will
he offered for competitive sale on
October II by more than a dozen
lousing authorities in various Sec
ions OF the country. Included will
e $6,323000 notes of the Washing
on, d. c., authority. -~f
Wabash Railroad invited bids on
100000 first mortgage bonds to
nance retirement of January / OF
47,300,0o0 AZ bonds issued under
he 1912 reorganization.
Lehigh Coal g. Navigation Co. is
"0nSidering refunding its SIT 200 .0OO
unded debt.
Aviation Corp. earned $3,199,871 or
15 cents share in months ended
august 81, compared with $281O.486
or 40 cents in the same period last
year. .........
Southern Pacific System reported
net income of 500 ,971 ,359 or $7.g4 a
share in 8 months ended August 81
VS.. $54 1898, 750 or $14.58 year ago..
Waukesha Motor Co. net for Il
months ended July 81 was 1892 .376
or S223 a share vs. $623, 1892 or $1.56
in the previous fiscal period.
Michigan Bell Telephone Co. plans
to spend $120, ,000, 900 in the first five
postwar years If business conditions
and supplies of manpower anc
materials permit.
Eastern Airlines placed orders fol
S25.Q00;000 worth of Curtiss- Wright
CW-2e Commando transports and
Douglas DC-4s for. postwar delivery
National City Bank of New York
reported earnings for three months
ended September 80 were $4,076,o1s
or 66 cents share, and for nine
months ended the same date were
$l1 ,956, ,628 or $193 a share VS.. 81. .6s
a share a year ago.
Municipal Bond Awards included
$1,867, 900 Fort Worth highway. air.
port and street protection bonds tc
Halsey, Stuart & Co. on a bid OF
100.01: $l,960,000 city of Minneapolis
refunding bonds to Phelps, Fem &
Co. on q bid Of 100185 for q LIZ
coupon.
Secondary Offering of 1000 shares
of National Fire Insurance Co. stock
was marketed at $57 q share by
Blythe & Co. and was quickly over
subscribed.
Aetna Hall 4 Roller Bearing Co
registered with the SEC 3O,37s
shares of So $40 par value cumula.
tive preferred stock to be Offered
to-common holders for $40 share
on the basis of one share for each
four presently held.
Associated Electric Co. plan te
sell its interest in Missouri Genera
Utilities Co. to co-operatives and the
city OF Rolla for base price of ST.,
10000 will be considered by sthe
SEC October IS.
Pullman Standard Car Mfg. Co
fled suit for $5O0,000 damages
against the Defense Paints Corp. In
Federal Court, In connection with
DPC contract to take over COM
pany plant at Hammond, Ind.
wisconsin Central Railway Co
petition Tor reorganization was
granted BY Federal Judge Gunna,
H. Nordhye at Minneapolis.