Evening star., 1944-12-06
Business Briefs


to 4,524, ,257,000 kilowatt hours in the
week ended December 2, compared
with 1858, $4,000 in the previous
week. but remained below 1850, ,158,-
900 in the like 1943 week. the Edison
Electric Institute announced.
Demand Deposits of member
banks in 101 leading cities totaled
s38 ,539 100000 on November 20, a
drop of S630,000.000 from a week
earlier, but S4,888,000 600 above a
year ago, the Federal Reserve Board
reported.
Bituminous Coal Records this year
have been made possible by the
opening of more than 500 new mines
with rated annual output in excess
Of 35,000,000 tons, the Bituminous
Coal Institute revealed.
Ford Motor Co. will build a new
model automobile after the war to
be priced 15%o to 20qo below the cost
of regular Ford, Henry Ford II an
nounced. 1t will be a full-sized car
with low gasoline consumption and
maintenance cost. The firms post
war production goal is 2,000,00 cars
a year, highest since 1928.
Elastic Stop Nut Corp. was being
investigated by the SEC when
President William T. Hedlund COM
mitted suicide, an SEC official said.
The study was started when the firm
reported operat ting losses starting in
August.
Pan-American Always stockhold-
ers will vote early next year on a
plan to raise $25, ,000, 900 in 1945 as an
initial step in financing 100000
900 postwar expansion. Common
stock would be split for l. and
holders would be offered rights to
buy new shares.
Phillip Morris g. Co. stockholders
will vote January IL on charter
amendments providing for issuance
of zoe, 900 shares of new 40 pre-
ferred and retirement of 144,565
4hoo shares and 48,677 41a% shares.
Thompson Products, Inc, regis
tered with the SEC $4,000 shares of
new common stock to increase work
ing capital for postwar expansion.
Pennsylvania Central Airlines re-
ported net income of $427,045 for 10
months of 1914 compared with
S277,245 q year ago. Return of 10
planes by the Government has boil
stored revenues this year.
Raytheon Mfg. Co. profit for II
months ended May 81 was So, ,665, ZIG
or $1077 VS.. $719,113 or $3.50 in the
previous year Sales totaled $112,-
994,448 VS.. $37,747,337
r. w. Woolworth Co. sales in No.
vember totaled SAL .083. .790, gain of
500 from year ago; in II months
ended November 30, 1892 PSI 1897, an
increase of 40.
Lerner Stores Corp. sales for No.
vember were $7.865, ,754, jump of
21.2eo from year ago: for II
months, s69,411 1886, gain of 1910.
McCrory Stores Corp. sales in No.
vember totaled $6,496 $50, an in
crease of 6.2qo over year ago: in
II months, $50, ,306,8 ,871, a rise of 4.7Po.
w. T. Grant Co. sales for Novem-
her were s16,972, ,159, a gain of 134%
from a year ago; for II months,
$147,717,101, an increase of 5.2%.
H. l.. Green Co. sales for Novem-
Der totaled $6,462,824, gain of 6.7Go
over year ago; for 10 months end
ed November 80, S53,516,430, an in
crease of l.7eo.
Dennison Mfg. Co. expects sales
Tor 1914 to equal or slightly exceed
1943 levels, despite cutbacks in Gov
ernment contracts, stockholders
were told.
Central New York Power Corp.
notified the SEC of its plan to
create an "unearned surplus spe-
cial" account by reducing by sl8.-
039, ,900.90 the stated value of its
common stock, move designed to
satisfy condition in the State
commissions order permitting issu-
ance Of $4,000 900 general mort
gage bonds