Evening star., 1944-06-08
Business Briefs

Bank Clearings i'm % LEADING
cities totaled S8,675, ,535 900 in the
week ended June 7, a gain of 6.8g
over year ago, Dun & Bradstreet
Inc, reported. 1t was the first gair
over year ago in six weeks.
Freight Loadings in the week end
ed June 3 totaled 810,772 cars, 8
decline of 1870 from the preceding
week, but 214%o above a year ago
the Association of American Rail
roads announced.
Net Working Capital of American
firms jumped from S24,600 900 OOC
in 1889 to the unprecedented leve
OF Sal 500, 100000 in 1943 and NAV
enable many firms to finance post
war reconversion and expansion
without assistance, an SEC an
alysis revealed.
Whether We Like 1t or Not, the
existence of cartels is a stubborn
fact and this nation is virtually the
only country where combinations OF
business are contrary to law, stated
the New York Trust Co. in its
monthly letter. 1t suggested estab-
lshment of a Cartel Commission.
Gasoline Stocks on June 7 totaIeo
S7,084,000 barrels, compared with
6,468, 600 a week earlier and 80 2,7OO,-
600 a year ago, the American Petro-
leum Institute disclosed.
Willys-OverIand Motors, Inc, di-
rectors are considering Charles E.
Sorensen, former vice president and
director of Ford Motor Co. for the
presidency. The matter was re-
ported in the negotiation stage"
Sunray Oil Corp. offering of sl3..
100000 l5-year 334%c debentures was
placed on the market at 1O3 plus
interest by group headed by East
man, Dillon g. Co. Proceeds will
be used in merging Darby Petro.
leum into Sunray. The merger was
approved by stockholders.
Kanawa Co, w. Va, Airporr
Bonds totaling S3,000,00O wer,
awarded to group headed BY
Phelps, Fem & Co. on a bid OF
l0O08 for combination of coupon.
representing a cost to the county
of 14Gc.
Loew's, Inc, declared an extra
dividend Of so cents a share and the
regular quarterly payment of the
same amount on common stock
both payable June 80 to holders OF
record June 20.
American Type Founders reported
net income Of $1,000,685 or SITS 6
share in the u months ended March
81. compared with 81 Ill, $50 or $1.9t
In the previous fiscal period.
United Gas Corp. and subsidiarie!
earned $7,7l4,954 or Sl715 a share
on the first preferred stock in l.
months ended January 81, com.
pared with S7,696,528 or SILL or
the first preferred in the precedin,
year.
Chicago Pneumatic Tool Co
earned S5l3,996 or $10l a share il
the March quarter, after reserve 70,
lenegotlation, compared with S548.
3o0 or Sill in the same l943 period
). 5. Kresge Co. sales in Ma
totaled Sl6,889 500 VS.. S15.622,858
year ago; in five months, $78 $50 So,
VS.. S74,553,654.
Lerner Stores Corp. sales for Ma,
we're $7,674,669 VS.. S6,186,47O a yea
ago; in four months ended Nav 81
s26,487 ,469 VS.. $24,614,612 year age
Western Auto Supply Co. sale
during May totaled 1882 900 vs.
s4,O32 600 year ago; in five months
el5,554,000 VS.. $l6,980,0O
Colonial Stores sales for fou
weeks ended May 81 totaled 1888,
349 VS.. $6485,958 a year ago; in 2
weeks ended the same date. S38,
373,784 VS.. $34,996,5 ,529.
United Gas Improvement Co. ha
discarded plans for complete liqui
nation as a necessary step in com
pliance with integration provision
2f the Holding Company Act, sal
chairman William w. Bodine. TIL
company may continue as an in
eestment corporation, he declared