Evening star., 1944-10-05
Business Briefs

Bank Clearings in "A leading cities
expanded to 0,542 100000 in the
week ended october 4, compared
with $10,04o, ,734,000 in the previous
week, and were 1859 above SO ,280,-
5000 in the like 1943 week, re-
ported Dun & Bradstreet, Inc.
Freight Loadings in the week end
ed September 80 totaled 912,999 cars
a rise of 1.69o from the previous
week and 80 above year ago. the
Association of American Railroads
announced.
Crude Oil Production set a new
record of 4,762 300 barrels a day in
the week ended September 80, the
American Petroleum Institute re-
vealed. It compared with 4743,85O
daily in the previous week and a.
327 500 year ago. Gasoline output
rose sharply in the latest week, but
stocks continued to shrink.
Farmers Cash Receipts In fthe
first 8 months of this year reached
s13,843, ,000,0 600, a gain of SO over a
year ago, the Agriculture Depart
ment estimated. Income from crops
was up 10, while that from live
stock rose 695.-
Narragansett Electric Co. offering
Of $31, 500, 900 go series A first mort
gage bonds. due 1874, was marketed
by a group headed by Halsey, Stuart
& Co. at 105.08fo and accrued in
terest. Proceeds will be used with
other funds to retire $31, $4,000 31a %
series A first mortgage bonds of 1866.
Northwest Airlines, Inc, earned
S5l7 ,889 or $1.45 share in 1S months
ended June 80, compared with a re-
vised net of S300,092 or $1.28 for the
previous year.
Pennsylvania Power g. Light Co.
net for IL months ended August 81
was S5,586,189 VS.. S6,161 $50 in the
preceding fiscal period.
Montana Power & Light Co. net
Tor II months ended August 81 was
$4,116,215 VS.. S4,619,723 in the pre-
vious. year.
General American Investors Co.
reported net assets on September 30
totaled S28, 1895, ,012 VS.. $28 ,239. 100 on
June 80 and $24,902, ,18O at the end
of 1943. Per share value was SIT "a
VS.. $17.38 on June 80 and S14.5O at
the end of 1913.
United Fruit Co. stockholders all
thorized officers to sell all or part of
the Cuban sugar properties to Unit
ed Fruit Sugar Co., a subsidiary.
Allegheny Ludlum Steel Corn.
viii redeem 28,388 shares Of pre-
ferred stock at S110 a share on De-
cember l with treasury funds. No
outside financing will be necessary.
The shares have required S198,7l6
in dividends annually.
New York, Chicago g. st. Louis
Railroad asked ICC authority to is
sue 5-year $10,000,000 promissory
note to help finance redemption of
SIS, 1890 31a first mortgage bonds
of 1947 on or before December 81 at
1919 plus interest.
General Electric Co. will build a
plant at Anaheim, Calf, for post
war manufacturer of plastic air.
plane parts.
Lee Rubber g. Tire Co. plans to
enlarge its tire manufacturing plant
to take care of a record backlog of
war orders and heavy demand an
ticipated after the war.
Allied Chemical g. Dye Corp. an
nounced its Barrett Division will
build tar distillation plant at Iron
ton. Ohio, IA miles southeast of
Cincinnati.
Federal Light g. Traction Co. has
received bid of 100000 from the
city OF Tucson, Ariz., for its SUBJ
sidiary, Tucson Gas. Electric Light
& Power Co.
Masonite Corp. directors elected
Matthew P. Mccullough president
to succeed the late Ben Alexander.
he has been treasurer and a di-
rector.
Pullman Co. elected James M.
Carry vice president in the operat-
Ing department at Chicago.