Evening star., 1945-06-20
Business Briefs

Demand Deposits of member
banks in l01 leading cities totaled
sal ,l89 100000 on June l3. gain OF
s506 900, 900 from a week earlier and
So $50 100000 above year ago, the
Federal Reserve Board reported.
Electric Power Consumption ir
The week ended June IS rose te
4.34o,4l3 900 kilowatt hours VS.
1927 ,028.0 600 in the previous week
and was l4eo above 4,287 PSI 900 il
the like 1914 week. the Edison Elec.
tr1c Institute announced
Aviation Corp. strengthened it
position in the appliance field b,
acquiring control of all Crosle,
Corp. property except the Crosle!
Automobile Division. About 64co O
Crosley's $500 shares were pur,
chased from Powell CroSley and tn,
Crosley family for S39 a share anc
the same offer was made to minorit,
holders.
New England Industries, Inc. re.
ceived an overall top bid of SIS.
839 ,999 from First Boston Corp. anc
Coffin & Burr for its Maine textile
mills and other properties.
Crane Co. stockholders approved
authorization of $4,000 shares O.
new preferred. OF which 10000 viii
be offered in miG-July with divi-
dend rate of e. Proceeds will be
used with cash to retire present So
preferred.
Jacobs Aircraft Engine Co. stock
holders will vote June Is on pro-
posed merger with Republic Indus
lries. Inc. which owns 85Ts of ia
Cobs capital stock.
Reed-Prentice Corp. stockholders
will vote July 10 on a plan to re-
Deem preferred shares at 55 plus
dividends and split common stock
3 for l.
American Zinc Lead g. Smelling
Go. declared dividend of 10 cents
? common share, payable September
/, first dividend on the common
since 1917. A dividend of S139.50 d
snare also was declared on the 60
preferred, payable August l. clear
ing all arrearages on the issue.
Cuban Atlantic Sugar Co. de-
clared an interim dividend of Is
cents, payable July l6. Previous
payments were Sl50 each in July
and October last year.
Singer Mfg. Co. cannot resume
normal production until months
after VI day, Sir Douglas Alex
ander, president, said. The firm is
in strong financial position to meet
postwar problems, he added Profit
Ior 1914 was S13897 1922 VS.. Sl3,-
6lIs707 in 1914.
e L. Jacobs Co. plants will have
production of electric - washing
rlachines under way by October /
and will attain considerable volume
blythe start of 1916. said President
EysS C. Jacobs.
American Stores Co. sales for May
totsled sl5,898.774, a drop of 6.Sfo
l,osn year. ago: for months. S63.-
070F72, a decrease of 29A.
Chesa peake e. Ohio Railway
e9rped S10,907. .76O or SLAP a share
in s months ended May 81 VS.. SILL
%33.264 or Sl50 a year ago.
Fcre Marquette Railway net for
months ended May 81 was So $685.
ia or S22.84 on first preferred stock
v5sS$l ,052 1888 or $40 first pre-
ferred share in the same 1914 period
McCord Corp. profit for months
ended May 81 was $510,678 VS.. $461,-
69Ma year earlier.
american WooIen Co. signed pre-
tefthination agreements with the
Al1hy covering S30,000,000 of wal
contracts. Other contracts totaling
$4,000 900 also were affected.
american Airlines reported rev.
eane passenger miles in May were
4 l@ above year ago. The number
ofFpassengers was 48ee higher.
raha M Paige Motors Corp. an
nqnncedt that William B. Stout
Md engineer. will direct It's post
va Development under agreement
vi Consolidated -Vultee Aircraft
C4ps to which Mr.. Stout is under
a NE -term contract.