Evening star., 1944-05-06
Business Briefs
General Business Actiyit,

General Business Activity has
risen slightly, according to the in
dex Of Business Week, which In the
latest week stood at 241.7, compared
with 24l,4 in the preceding week,
1893 month ago, 240.9 six months
ago and 1925 year ago.
Steel Industry PayrolIs reached a
new high of $l45, 5,285.o00 in March,
the American Iron 81 Steel Insti-
tute reported. Previous monthly
peak was $l44.937. 900 in October,
1943. Average number of employees
in March declined. however. to
$4,000 against $4,000 in February,
State and Municipal Financing
scheduled for the coming week to-
tails s8,8l8,000 against s7,233.566 in
the current week and weekly aver
age for the year to date of SIS
506,l98, the Daily Bond Buyer. dis
closed. Major item next week will
be s7,397, 900 of housing authority
notes scheduled for Wednesday. 3,
Cities Service Co. was ordered by
the SEC to dispose of its utility in
terests or its vast and complex
oil business and other nonutility
enterprises The firm was given Is
DAYS to select a retainable system.
Republic Steel Corp. sold S50,-
000, 900 31aT bonds to IL insurance
companies and arranged s24,500 900
serial bank loans to finance retire
ment of present funded obligations
and bank loans.
Koppers Co. sold S3.600.0 900 3h ID
bonds to two insurance companies
and 100000 2%s serial notes to
banks to raise funds for plant i'm
provements and expansion.
Sears ROebuck G. Co. sales for
April totaled SIS, ,428,4 ,461, an increase
of 2.9% over year ago. For three
months ended April 80, sales were
$214,197 .595. a gain of 84%e.
w. T. Grant Co. sales in April
totaled s13,618,66l, a drop of 1.4%
from a year ago. -Four months sales
totaled $45, ,189 ,428, a decline of 81
from year ago.
Interstate Department Stores re-
ported April sales of $3,503, $50, a
drop of 4.6gs. Sales for three months
ended April 80 were s9,2s5.7l2. a
decrease of $50 from the same 1943
period.
Revere Copper & Brass Co. earned
$433 800, or 81 cents share in the
March quarter, compared with 1884,
152, or 56 cents in the same 1943
period.
Sylvania Industrial Corp. net for
the quarter was s241 ,531, or SO cents
VS.. $252,252, or 81 cents year ago
Baltimore e. Ohio Railroad ac-
cepted a bid from the Girard Trust
Co. of an interest rate of 1ss % on
$1,200, 900 equipment notes. payable
in 40 equal quarterly installments
Issuance is subject to ICC approval
Creole Petroleum Corp. declared
a dividend of so cents share, pay
able June 10 to holders of record
May Is. No declaration was made
a year. ago, and previous payment
was dividend of Is cents and an
extra of the same amount paid De-
cember Is.
Missouri Pacific Railroad obtained
Federal Court authority to partici-
pate in financing by which the
Terminal Railroad Association OF
st. Louis would acquire the Eads
Bridge and approaches to st. Louis
Cotton Belt Railroad aked similar
permission.
Georgia Power & Light Co. plar
for recapitalization will be heard
by the SEC at hearing June /.
Indiana Public Service Co. was re.
fused exemption from SEC compe-
titive bidding requirements in its
proposed issuance of 220,078 share.
of so 500 par value cumulative
preferred stock, to be offered in ex-
change for present preferred shares