Evening star., 1944-12-07
Business Briefs

Bank Clearings in "a leading cities
expanded to $12829 .282, 900 in the
week ended December 26, compared
with S9,908.171 900 in the previous
week and $9,168 ,668,000 in the like
1943 week, reported Dun g. Brad
street, Inc.
totaled 80,426000 barrels, compared
with 79,625,OOO a week earlier and
69,912000 a year ago, the American
Petroleum Institute disclosed. Sup
plies of light and heavy fuel oils
declined sharply in the latest week
Freight Loadings in the week end
ed December 2 totaled 309,260 cars
a gain of SIG over the previous
week, but $50 below the like 1943
week, the Association of American
Railroads announced.
Steel Production since Pearl Har-
bor has reached the record breaking
total of 263000,000 tons, the Ameri-
can Iron & Steel Institute disclosed
Output has been nearly 800 higher
than in busiest years of the last war
American Airlines stockholders
approved a 2-for-1 splitup in COM
mon stock and issuance of 100000
shares of new 500 par preferred
to pave the way for postwar ex-
pansion
Loew's, Inc, plans to split COM
mon stock 3 for l and place new
shares on a $150 annual dividend
basis. A regular common dividend OF
so cents and an extra of S1.50 were
Gn11ornI lolo DnNny,o
Raytheon Mfg. Co. stockholders
may be asked to approve a splitup
in common stock.
Bank of America, n. 7. g. S. A. di-
rectors will consider financing pro-
gram expected to involve $40 ,000,0 600
of new equity capital next Tuesday
Hayes Industries, Inc, earned
S231 100 or SO cents a share in
months ended October 81, compared
with S237,711 or II cents in the same
1943 period.
Chicago Yellow Cab Co. net for
months ended September 80 was
S274,963 or SLOT vs. $372 ,468 or ST .43
a year ago.
earned $685. ,O55 or So .35 in IL months
ended September 80 vs. $91,O ,O79 or
81 cents in the previous year.
Montgomery Ward g. Co. sales for
November totaled S74,749,381, gain
of 16T lover year ago; for 10
months ended November 80, $541,-
418,356, an increase of 2.3%d.
S. S. Kresge Co. sales in November
were $2o,113,793, an increase of 500
over a year ago; for II months ended
November 30, $183 ,519 300, gain of
46Go.
Butler Bros. combined sales
for November totaled $10,216, ,320, a
drop of 1910 from year ago; for l
months, ,024, decline of 3.7%
General Time instruments Corp
declared quarterly dividend of 25
cents common share, payable De-
cember 26, and a year-end dividend
of 25 cents, payable January Is
bringing 1914 declarations to $1.25
VS.. rs cents in 1943.
Twin Coach Co. declared a divi-
dend of so cents common share
payable December %. Previous pay
ment was 80 cents last December %
American Snuff Co. declared a
dividend of so cents a common
share, payable January 2. Previous
quarterly payments were so cents.
American Brake Shoe Co. stock
holders approved merger of two sub
sidiaries, National Bearing Metals
Corp. and Electro-Alloys Co., into
the parent company at the end of
this year.
American Gas & Electric Co. sur
render to Indiana General Service
Co. of 24,347 preferred shares of
Indiana in exchange for an equal
number of Indianas common stock
was approved by the SEC.
Moore Corp. announced United
States and Canadian subsidiaries
will consolidate into a new firm,
Moore Business Forms, on Janu-
cry l.