Evening star., 1945-10-21
Business Briefs

American petroleum executives
warn the United States will lose its
| foreign oil development and markets
unless companies are allowed the
same freedom of action as their
| foreign competitors to operate in
accordance with the laws and GUS
toms of foreign countries"
The group reported to Chairman
OMahoney of the special Senate
committee investigating petroleum
resources that political risks are
even more onerous than ecoiomic
and physical risks in foreign ac-
tivities." They urged reiteration of
United States recognition of the
value of foreign investments and
trade in development of American
economic life.
Wartime per capita purchases of
civilian goods and services rose 10
to Is per cent above the 1888 level,
the Combined Production and Re-
sources Board says. Purchases in
Britain dropped from Is to 20 per
cent, the board said in an 81-page
report giving the results of an official
three-nation study.
Coal and steel industries prepared
to start a return toward normal
production this week with the ex-
pected return to the mines of more
than 100000 coal miners. Coal OUT
put has been increasing slowly since
Wednesday.
Another record wheat crop is
possible next year. This years record
harvest totaled l,150 100000 bushels,
including 837 100000 bushels of
winter wheat and 313,0O0,0 900 bushels
of the spring crop. Authorities now
say spring wheat acreage will be
about as large as last year.
Southern Aircraft Corp. says a
majority of stockholders have agreed
to Sell stock to Portable Products
Corp, of New York for pproxime te-
ly Sl,00O.000 in cash.
Lake Superior Iron Ore AsSocia-
ton reports consumption of Lake
Superior district in September
totaled 5,337,0l7 tons. compared with
5,658,278 tons in August and $3.50, ,255
tons in September, 1914
Municipal bond issues to be offered
this week total $38, ,875 900, compared
with IS, 1852 ,040 last week The week.
ly average for the year stands at
S22 ,423, ,788.
Detroit Edison Co. has authorized
a call on December 81 of SIG 900 900
OF series "F' per cent bonds at los.
$40 ,000,00 of this series was issued
in 1885, due October, 1865. Detroit
Edison and subsidiaries reported for
year ended September 80 net income
of S6,030, ,595 or 95 cents VS.. S8,270, ,766
or 81 30 in previous year.
National Supply Co. offers 10000
shares of Az per cent cumulative
preferred stock at 500 par in ex-
change to holders of it's 291 ,091
shares of outstanding prior preferred
5l2 to per cent stock.
Eaton Manufacturing Co. and
subsidiaries report for nine months
ended September 80 net profit of
S2,424,42 or S344 VS.. S2,925, ,759 or
s4.l5 for 1914 perod.
Florence Stove Co. reports for
three quarters net profit of $773,9 ,919
or 1924 VS.. s686,364 or s199 for 1914
perod.
Oenerai Clsar 20. reports net IN
come for nine months ended Sep
tember 30 of s7l5,1l0, or 95 cents
common VS.. S679,4l5, or 88 cents
for 1914 period.
Bayuk Cigars, Inc, reports net
income of 1894 1903, or S2.53 VS..
1922 1886, or s2.35 common for 1914
period.
Continental Steel Corp. reports for
nine months ended September 80
net income of s499,13l, or S249 VS..
S443 ,902, or s221 for 1914 period.
Mountain States Telephone e.
Telegraph Co. reports for year ended
30 net profit of SO 1889 ,422,
or s737 VS.. S3,376 ,005, or $7.03 for
year
Thomas w. Skinner was appointed
general manager of the Lincoln
division of the Ford Motor Co.,
President Henry Ford II announced.
Mr.. Skinner has been assistant di-
rector of sales and advertising for
Ford. Also announced was the ap-
pointment of Frank j. Denny as
sales manager of the Lincoln division.