Evening star., 1944-06-21
Business Briefs

Electric Power Production rose to
: 4, ,287 ,251 900 kilowatt hours in the
week ended June II, compared with
: ,264 100000 in the previous week,
and was 46fo above 4,098, ,40l 900 a
year earlier, the Edison Electric In
! stitute- reported.
| Demand Deposits in member
/. banks of 101 leading cities totaled
S37 ,229, 100000 on June IA, an in
crease of $3.50, 100000 from a week
earlier and S4,442,00 1000 above a
year ago, the Federal Reserve Board
disclosed. Commercial industrial
. and agricultural loans totaled S.
P13, 100000. a gain of SAB 100000 from
; b week earlier and 1888 100000 above
: a year ago.
: Public Debt of the United States
reached a new alltime peak OF
$3.50, ,057 100000 on June 10, COM
:pared with S140, ,l04 ,000, 900 a year
.ago, the Treasury Department re-
.vealed.
Gasoline Stocks on June II to-
tailed IS ,268,000 barrels, compared
with S6911 900 a week earlier and
:79, sci 900 g. year ago, the American
Petroleum Institute announced
Production in tthe latest week was
:14,398,000 barrels VS.. 14,220,000 in
the previous week,
Anticipating Refunding opera
ton by Cincinnati Union Terminal
Co, several banking firms were re-
iported forming syndicates to bid or
lany issues that may come up for
competitive sale The firm has
$24 100000 outstanding series Z
:31kco bonds, due 1871, which are
callable on any interest date on &C
DAYS notice at 106. the next such
date falling on November /.
Peoples Gas Light & Coke Co. sold
S20000,000 of first refunding mort
gage bonds, series G, due 1861, to
eight life insurance companies and
will use proceeds with 1886, 600 cash
to pay off all So refunding mort
gage gold bonds, Que 1947, presented
on or before September l at par,
plus $l13 premium per $1,000 bond
plus interest to September /.
Philip Morris e. Co. has acquired
properties of AXton-Fisher Tobacco
Co for an undisCloSed price. Assets
on April 80 were listed at nearly
SAT 100000. Philip Morris will con-
tinue to make Axiom Fisher brands,
Including Twenty Grands and Spuds
Hupp Motor Car Corp. will acquire
assets and business of Globe Ma
chine & Stamping Co, Cleveland
as of June 30. r. S. GeddeS, now
president of Globe. will become
president of Hupp.
Paramount Pictures. Inc, earnings
ID the second quarter are expected
to exceed slightly those for a year
ago despite higher taxes, President
Barney Balaban told stockholders
Box office income is holding above
asyear ago.
Chesapeake & Ohio Railway re-
ported net income Of $ll ,453 ,284 OF
$50 share in five months ended
May 81, compared with $12 ,926 ,969 Oh
$1.65 in the same l943 period.
eCruman Aircraft Engineering
Corp. stockholders authorized an in
crease in the 81 par value common
stock from 600 900 TO 5000, 900 shares
The additional shares will be usec
for postwar needs.
sGeneral Printing Ink Corp. regis.
tered with the SEC 35 900 shares Of
$3.50 preferred to be offered in ex-
change for outstanding $6 preferred
sAnchor Hooking Glass Co. pur.
chased the Carr-LoWry Glass Co.
Baltimore, for $3500,O00 Carr-Lowry
makes perfume and domestic con.
tsiners.
Freedom Oil Co. has acquired IS
large majority interest" in Valvolne
OIL Co., Cincinnati, for an undis
closed consideration
STANDARD Oil Co. California; haI
ofganized a new subsidiary, Rich
neond Exploration Co of Venezuela
to resume exploration in tina
country,