Evening star., 1945-09-13
Business Briefs

Bank Clearings in "a leading cities
rose to 9,704, AL 900 in the week
ended September II vs. So, ,331 ,419 900
in the preceding holiday week and
were 1870 above $8,177 100000 in
the like 1914 week, reported Dun &
Bradstreet, Inc
Freight LOadlngs in the week end
ed September totaled 730,628 cars,
a drop of 151% from the previous
week and 11.59o below a year ago,
the Association of American Rail-
roads announced.
Southern Bell Telephone Co. will
spend $300,000,000 to $400, 900 for
expansion in the next 5 or years.
Priority will be given applications
for telephones. Work on new
transcontinental system to link
Washington and Los Angeles is
being speeded.
Western Auto Supply Co. mis-
sourD board chairman, Don A.
Davis, announced his retirement
and sale of 100000 shares of the
firms stock to Gamble Stores, Inc
for more than S4,000,000. Gamble
previously acquired 43,500 shares
and becomes the largest individual
stockholder. Mr.. Davis retains a
substantial interest and will con-
tinue as director.
Connecticut Light & Power Co
registered with the SEC 100000
of 80 series K bonds, due 1880, to be
offered publicly for redemption pur-
poses.
Raytheon Manufacturing Co. reg
istered with the SEC 100000 shares
of $2.40 cumulative preferred stock
of $50 par value.
Illinois Power Co. filed with the
SEC an amended statement of
claims against its parent, American
Light g. Power Co., charging that
s10,000,000 of its funds were used to
develop natural gas properties, but
never repaid.
American Airlines earned $3,304,-
05o or $2.56 share in 7 months
ended July 81 VS.. $2,317,739 or $2.18
a year ago.
May Department Stores profit for
6 months ended July 81 was 81, $780,
806 or 81 VS.. $2,225,177 or $1.91 on
fewer shares in the 1914 period.
Poor & Co. earned 100000 or n
cents on B stock in months ended
June 80 VS.. $4,000 or 50 cents on
B stock year ago.
Reynolds Spring Co. net for
months ended June 30 was S248, ,596
or "a cents VS.. $315,736 or Sill.
L. c. Smith & Corona Typewriters,
Inc, earned $641,84 or $1.81 in 12
months ended June 80 vs. $716938
or $2.31.
Monsanto Chemical Co. an
nounced the market potential of
newly-developed products justifes
expenditure of around S48, 8,400, 900
on Isl expansion projects.
Continental Can Co. will build a
large can-making plant near Weir
ton, w. Va 1t will employe 1000
to 1,500 persons.
Gunnison Homes, Inc, subsidiary
of United States Steel, will construct
a 100000 plant at New Albany,
Ind, to make 1850 prefabricated
homes year on an 8-hour day, or
5000 on a double-turn basis.
Baldwin Locomotive Works has
large backlog OF export orders with
number of important inquiries
still in the negotiation stage, the
firm announced.
City Stores Co. purchased $4,000
OF the outstanding 1899 common
shares of Oppenheim, Collins g. Co.
at $20.50 a share from the family OF
the late l. D. Levy.
Lane Bryant, Inc, called for re-
demption on November 10 all 7%
cumulative preferred shares at liz
plus accrued dividends.
General Electric Co. will construct
a new plant to manufacture lami-
mated plastics at Coshocton, Ohio.
National Tube Co. placed a con-
tract with Wilputte Coke Oven
Corp. for TT new by-product coke
ovens at its Lorain lOhio) plant.
Philco Corp. has started produc-
ton OF freezers, refrigerators and
storage batteries. A new line o1
radio sets is expected to reach mass
PRODUCTION in. the last 1945 quarter