Evening star., 1944-06-13
Business Briefs

Adequate Food Stocks will be on
hand in the Nation at least for the
balance OF this year, excepting for
first grade beef and lamb, President
John z. Jaeger of the National As
sociation of Retail Grocers predicted.
Cotton Export Markets for the
South must be regained after the
war with the help of other sections
of the country, or the South will cut
cotton acreage and become heavy
competitor in wheat, cattle and
other markets, warned Ed Lipscomb,
sales promotion director of the Ma
tional Cotton Council in an address
at Atlanta.
Canada Lend-Leased 1912, 900, 900
worth of war supplies to other
United Nations in 10 months ended
March 81. The United Kingdom re-
ceived the major portion of mutual
aid from the Dominion, the only
Allied nation which does not receive
lend-lease help from the United
States.
Furniture Manufacturing Profits
on the average were down to 29%o
OF sales in 1943, compared with
$50 in 1912, according to the an
nual report of Seidman & Seidman,
accountants for the industry.
Diamond Shoe Co. directors voted
to retire 10000 outstanding shares
of SO preferred stock on July l at
10625 a share
Howe Sound Co. declared a divi-
dend of so cents a share, payable
June 30 to holders of record June %
Previous payments were rs cents
quarterly.
Autocar Co. board decided to
eliminate 1914 cash dividends on the
common. A stock dividend will be
paid about October in a new series
A $40 par So preferred stock on
the basis Of one share for every ten
shares of common
United States of Brazil offered
holders of 1926, 065 654 of it's ex-
ternal bonds q choice of retaining
their securities with reduced inter-
est or accepting new 3a4 % external
dollar bonds of 1914 of reduced prin-
cipal amount, plus varying cash
payments.
Baltimore & Ohio Railroad &C
Cepted a bid of an interest rate of
1877 on $1.200,000 in equipment
notes, series D, payable in 40 equal
installments. The bid was made
Jointly by the Marine Trust Co. and
the Marine Midland Trust Co.
United Air Lines reported revenue
passenger miles in May totaled 81
98l 200, a new record, and 32es above
28.764 ,996 a year ago. Plane miles
totaled 2,425 300 VS. 1,762016 a year
ago. an Increase of 15%.
Northern Pacific Railway net in
come for four months ended April
80 was So 486 636 or 81 a share VS.
s4,723 l61 or $l90 in the same 1943
period.
Rutland Railroad reported net loss
Of $l80,736 in four months ended
April 80, compared with loss of SIT,
216 in the same period last year.
Standard Gas & Electric Corp
and subsidiaries earned 81 2,69097l
in the March quarter VS.. 81 1888 .297 a
year ago.
Twin Coach Co. net for the March
quarter was $l43,82l or 80 cents a
share VS.. sl30.029 or % cents in the
same l943 period.
Chicago & North Western Rail.
way reported l943 net income o
S26. Jag, ,889 VS.. $9,964 -239 in the pre-.
vIous year Net railway operating
income was s4O,79l,747, gain o
636%l from 1912.
WHY'S Overland Motors, Inc, ha!
entered into contract with Charles
L. Sorensen as chief executive Off.
cer. For many years he was eXecu-
tive vice president and genera
manager of Ford Motor Co.
Curtiss- Wright Corp. appointed
Richard S. HueSted manager of it,
Washington Office. He has beer
service engineer, sales engineer anc
manager OF public relations In the
last seven years.