Evening star., 1944-09-03
Business Briefs

General Business ACTIVITY nas
declined further, according to the
index of Business Week. which stood
at 1888 in the latest week, compared
with 1888 in the previous week, 235.l !
q month ago, 1883 six months ago
and 1855 year ago.
Stable Wholesale Volumes were
maintained in the week, reported
Dun & Bradstreet, Inc. Deliveries
became more irregular and Jagged
up to about go days on some lines.
A greater mood of caution and
selectivity prevailed. Food demand
ran about SO above year ago,
while inventories generally were be-
low 1943 levels.
Higher Commodity Prices were
reflected by the Associated Press
wholesale index of IS staples, which
closed the week at 107.75. compared
with 10763 a week ago, l07.42 q
month ago and l06.17 year ago.
Hog Markets have done an about
face in the last few weeks with
transactions now favoring the seller.
Shipments have fallen far below
trade requirements and Chicago OBJ
servers said there was little hope
OF supplies catching up with
slaughter outlet, even II heavier
marketing develops this fall.
State and Municipal Financing
scheduled for the coming week
totals $4,7l5,000, compared with
1922 500 last week and a weekly
average for the year to date of
$2l, 1888 the Daily Bond Buyer
disclosed.
Arkansas Light e. Power Co. filed
with the SEC a plan to issue and
sell at competitive bidding $50 900 900
of first mortgage bonds, due 1874,
to finance redemption of 10000, 900
OF SO bonds of 1856 and small
amounts Of 2.889o and 273qo bonds.
Philadelphia Electric Co. asked
SEC approval of plan to redeem
$3.50 ,000,0 900 of 3laoo first and refund
ing mortgage bonds, due 1876. The
firm would sell sos 100000 of 2a %
bonds, due 1869. and $65 900, 900 of
the same type, due 1874.
Minneapolis, st. Paul & Sault Ste.
Marie Railway ended ia years of
bankruptcy with a newly formed
corporation officially taking over the
road. Horace C. Grout, former gen.
eral manager Of the western lines of
the Canadian Pacific was elected
president.
Standard Gas & Electric Co. re-
ported net income of $3,946,992 in
the first half of 1914, compared with
$3,677,433 in the same 1943 period.
Net for IL months ended June 30
was $5.947 ,099 VS.. $6,l90,l3l in the
previous year.
Bath Iron Works earned 81 .6l3,343
or $685. a share in the first half,
after reserve for renegotiation, COM
pared with $l,336,638 or $3.19 a
year ago.
Lukens Steel Co. net for A weeks
ended August IL was $767 ,479, before
contingency reserve, compared with
$l,l06,0l2 in the same 1943 period
Republic Aviation Corp. has re-
duced inventories of surplus ma
terials to around ST 600, 900, including
Government-ow goods.
General Motors Corp. will provide
peacetime jobs for 1870 to SOTs Of
its present employees, Chairman
Alfred P. Sloan estimated at press
conference In Los Angeles.
Firestone Tire & Rubber Co.
awarded the general contract for its
$4,700,000 tire plant at Des Moines,
Iowa. to George Sollitt Construction
Co. of Chicago.
Spiegel. Inc, is using its highest
executives in pool to lick the man.
power shortage. In their spare time,
the president fills bins in a mer-
chandise warehouse and the sales
manager fills orders in the shoe de-
partment where he worked many
years ago.
Jersey Central Power & Light
Corp. sale of 712,411 shares Of It's
common stock was postponed until
September s. pending SEC approval.
The auction was scheduled originally
for Friday.
Nash h-Kelvinator Corp. appointed
C. D. Wing director of advertising
and sales promotion of its Nash
Motors Division