Evening star., 1944-06-25
Business Briefs
General Business Activity

General Business Activity ha.
resumed its decline, according ts
the index of Business Week, which
stood at 1884 in the latest week
compared with 1888 in the previous
week, 240 a month ago, 1881 ST,
months ago and 1855 a year ago
The idex had held at 1888 fo
several weeks.
Lower Commodity Prices wer,
reflected by the Associated Pres
index OF IS staples. which stood a
106.33 yesterday, compared with 10
on Friday, 107.09 a week ago, LOG. 81
a month ago and 1854 a year ago
Dangerously Misleading" was tn,
SEC report that all industry ha.
plenty of working capital to con.
vert to peacetime operations with
out financial aid, declared Rober
Gaylord, president of the Nationa
Association of Manufacturers. TIL,
Interpretation of incomplete dat.
was either unintelligent or don,
for some purpose not clear" h,
said.
World Sterilization would not b,
achieved by the proposed interna
tional monetary stabilization fund
because it would result in scarcit,
of dollars for this Nations worlt
trade, said Brig. Gen. Leonard
Ayres, vice president of Clevelan,
Trust Co., at the Graduate Schoo
Of Banking at Rutgers.
Government Bond Purchases b,
the American public in the frs
three months of 1914 approximate
IS 1000 ,000, 600, more than half O
the $9,400, 900 900 saved by person
and incorporated businesses in tina
period, reported the SEC.
State and Municipal Financin,
scheduled for the coming weel
totals only $4,0400OO, compared
with $16,964,00 in the last weel
and weekly average for the yea
to date of $40 499 1903, according t,
the Daily Bond Buyer.
Mexico's Mining Strike may re
duce reserve supplies of common
lead for American industry. trad
circles fear. Most allocations TO
foreign lead have depended on tn
Mexican supply.
Lerner Stores Corp. registered
with the SEC $4,000 shares of n
par value common stock to b
offered publicly by a group heade'
by Merrill Lynch. Proceeds vii
go to the sellers, President Josepl
j. Lerner, who is offering 10000 0
the 70,500 shares he owns, and
subsidiary, Associated Lerner Shop
of America, Inc, which is offerin
it's entire interest of 5000 shares.
Idaho Power Co. was authroize'
by the FPC to issue 60,587 shares o
4qo preferred for redemption o
outstanding TO and 81 preferre,
stocks.
Philip Morris e. CO., Ltd, earne,
$6,650,664 or $58l share in l
months ended March 81. compare,
with $6,930,933 or $612 in the previ
GUS year.
| Kelsey Hayes Wheel Co. net TO
three months ended May 81 wa
$464 ,268 or IS cents a share o.
combined class A and B stock!
compared with $481 ,425 or 88 cent
in the same 1943 period.
American Potash & Chemica
Corp. earned 1882 ,665 or s2.62
share in 1943, compared with $l,606,
144 or 5000 in 1912.
Austin Nichols & Co., Inc, re
ported net of $634,739 or $22.48
share on preferred A stock, com
pared with $544 ,99l or s19.3l in tn
previous year.
/ Axiom Fisher Tobacco Co, in dis
solution, offered to give class I
stockholders l41 pounds of tobacco
in the form of warehouse receipt
as means of distributing assets
The B shares are owned largely b,
Trans America Corp, which Is sell
ing out to Philip Morris.
General Steel Castings Corp. de
clared dividend of $3.50 a pre-
ferred share, payable August Is t,
holders Of record August l.
American Car e. Foundry Co. re
ceived an order from the New Yorl
Central for 1000 box cars to be con
structed at the firms st. Loui
works.