Evening star., 1945-06-06
Business Briefs
EIkcfric Power ConSumntio

Eleftric Power Consumption de-
clinedato 4.203, ,502 900 kilowatt hours
in the week ended June VS.. 4,329,-
sos 900 in the previous week, but re-
mained 14qo above 4,144 100000 in
the like 1914 week. reported the Edi-
son Electric Institute.
Demand Deposits of member banks
In 10l leading cities totaled .378,-
100000 on May 30, a decline of $138,-
00U, 900 from a week earlier, but 81
170,000,000 above a year ago, the
Federal Reserve Board announced.
Ford Motor Co. production of air
craft engines and jettison gasoline
tanks was cut back around sic, $780,
900, but not more than 500 workers
will be laid off. The others will be
shifted to other work.
Pan American Airwavs declared
an initial dividend of 25 cents on
new capital stock created by 2-for-
splitup, payable June 25 Addi-
tional stock will be offered late ir:
June.
United States Lines stockholders
we're told by President Basil Harris
that earnings were about in line
with q year ago.
Standard Oil Co. New Jersey
profit for the first half of this year
will exceed sSO,OO0,0OO, Chairman
r. w. Gallagher told stockholders.
Net for the same 1914 period was
81 ,000, 600 or $3.50 share.
Baltimore & Ohio Railroad was
authorized by the ICC to sell $84,-
563.276 of collateral trust 40 bonds
to the RFC. Proceeds will be used
to pay off notes held by the agency.
Certain -teed Products Corp. di-
rectors approved the proposed Of
fering of share of new 4l2% prior
preference stock, 5 common shares
and 81 in cash for each share of
6os prior preference stock.
F. w. WoOlworth Co. sales for
May totaled s36,424,951, a gain Of
IL over year ago: for months,
&175 5.944 ,567, a rise of 42%o from a
year ago.
W. T. Grant Co. sales for May
totaled $13.392.s70. drop of $50
from a-year ago; for S months, $685.
114.923, gain of 9.4%e.
Lerner Stores Corp. sales for May
totaled $7,773,881, a gain of 1877
from = year ago; for 4 months ended
May 81, 2s,395, ,O22. an increase
Of l1ae.
McCrory Stores Corp. sales for
May totaled $5,400,114 drop OF
s.8so from a year ago: for months
1865 1856 vs.. $25 ,204 ,539 a year ago
Jewel Tea Co. sales. for weeks
ended May 10 totaled $4,617 ,908, a
gain OF $40 over year ago; for
20 weeks ended the same date, $22,-
860. 1892, an increase of 1917.
Eastern Gas & Fuel Associates
filed recapitalization plan with
the SEC after its parent, Koppers
Co., accepted a commission order
to dispose Of its interest in Eastern
Champion Paper Il Fibre Co
stockholders will vote July on q
plan to authorize 150, 900 shares oi
new preferred stock to replace pres
ent preferred and issue $4,000 ,0O(
Of 20-year debentures to refund it.
debt.
e. r. Squibb 4 Sons registered
with the SEC 150, 900 shares of S.
preferred to be offered on q share
for-share basis in exchange for Sc
ries A IS and series B $425 pre-
ferred stock.
Sterling Drug, Inc, registered with
the SEC 125, 200 shares of new 81 q
cumulative preferred to finance re-
tirement OF $9,500.000 of bank loans
National Tea Co. acquired the H
Nm. Packing Co. of Denver for
price understood to be around $780,
600.
Schenley DistiIlers Corp. elected
BIC Ohlandt and Walter T. Palmer
vice presidents.
American Cities Power 4 Light
Cerp. elected Harry A. Arthur OF
New York, Robert c. Butcher OF
Richmond. Va; Herbert w. Grindal
&c New York and Clinton williams
q Quinton, Va, TO the board.