Evening star., 1944-07-16
Business Briefs

War 6pon1lng BY the Govern
ment reached q neW monthly peak
or 97eS7 900 90 Ii june, eain n
~, ,0O0, 900 or .5% over the preced-
ine month the WpD announced. The
average daily outlay Ii june was
$306, ,o00, 90. Since the start Of the
defense program Ii July !. 1910. ex-
penditures for war purposes totaled
S1oo. .000, 90 100.
tailed oo6, ,I3s bales Of lint and 1IS9eo
bales Of linters, compared With S3l.-
$50 and l20.13l In The previous
month, and olS,433 and 1884 &
year ago. the Censls Bureau re-
ported. Consumption for II months
ended June 80 tutaled s.217, 500 OF
lint and 1,z15,5 Of lint vs.. TO- ,260,-
ia and l,lo4, 10 Z year ago.
New Life Insn9anoe written In
June amounted to 4842 40 900 vs..
Sta. .o5o 900 I year ago, the Associa-
tion Of Life Insurance Presidents re-
vealed. New business In six months
ended June 80 totaled a, ,755 ,l00 900
vs.. $4,330, ,24l 900 q year ago.
Department Store Sales in the
week ended July 3 were 2go above q
year ago, while those for four weeks
ended the same date were S%s high
er. the Federal Reserve Board dis
closed.
A.Prsxy battle for control Of Ma
tional Tea Co. Il expected. Chicago
associates Of John =. Cuneo, presi-
dent of Cuneo Press, said q sub
stanital stock interest In the food
chain had been acquired by Mr..
Cuneo and associates, but that they
had been rebuf1ed In efforts to OBJ
tain representation on the board.
American Power 4 Light Co. filed
with the SEC plan to retire its 6co
gold debenture bonds, due 201o, and
series A 81 gold debenture bonds Of
Southwestern Power, due 2022, and
assumed by American.
American Telephone &sTelegraph
Co. reported net income Of the Bell
System applicable to its stock was
$41 J048, ,795 or $2.l6 q share In three
months ended May 81, compared
with ~. $50 ,o1S or Sass In the same
1913 period. Net Of A. r. g. T. alone
was 40 sos 900 or $2.13 in the June
quarter vs. $4l,5o4, 400 or S227 4
year ago.
Flintkste Co. reported net income
for 56 weeks ended June II was ST.
604, ,44l or Il so share. No compar-
isons were available.
Lehigh Portland Censent Co. net
for IL months ended June 20 was
$S06. .472 or 90 cents q share vs.. ST.
580, ,578 or 81 80 in the previous year
Alpha Portland Cement Co. reported
net loss Of 3177,55 In IL months
ended June 80, compared with q new
profit of 1894 ,82S in the previous
year.
MacAndrews 4 Forbes CO. earned
$325, $50 or 88 cents q share In six
months ended June 30. subject to
renegotiation. compared with $685.
824 or - cents In the same 194a
period. -.......
Carrier Csrp. stockholders will
vote August IS on proposed Is
suance Of 40 900 shares Of cumula-
tive preferred stock, of which TO-
600 would be sold In the near fu-
ture. New shares would be offered
to present common holders in the
ratio Of 16 shares for each 100 OF
common held.
Artleom Corp. will increase its in
debtedness 81, SOC. 900 in order to in
stall Administer rug manufacturing
equipment. In addition, loo, ,OO0
common shares will be offered to
present holders At S q share, on the
basis of one for each two now held
Proceeds from the shares win be
used to retire about 400 preferred
shares on September at SIS .
share.
Blse Ridge Corp. reported net
assets as Of June 80 were ~, ,l2S -,
equal to 32.70 q share, compared
with 334 500. .737 or 42.17 q share Ut
the end Of 1943.
''S American Citiei Pswer 4 Light
Corp. assets on June 80 totaled $32,-
02o, ,614 or 429l Q share VI. $l5.651,-
357 or $1.63 share at the end Of
1o43.
Nstisnal Bond 4 Share Cerp. q.
sets on June 20 were - .2S9 .ll4 OF
$2S.72 . capital share vs.. $2406 q
share on March 81 and 1850 at the
end of 1943. sci
General Public Services Corp. as
sets on June 30 were equal to II
cents q common share vs.. 30 cents
on March 81 and II cents on Decem-
Der u, 1943.
The ICC Rejected an application
by Victor v. Boatner to be q director
Of Norfolk Southern Railway Co
while serving - an oflcer and d.
rector of the Chicago & Eastern
Illinois Railroad.