Evening star., 1945-06-21
Business Briefs

Bank Clearings in "a leading cities
scared to Sl5,055, ,443 900 in the
week ended June 20, highest mark in
nearly Is years, and compared with
s10,835 400 900 in the preceding week,
They were 28ee above S11 .766 ,283 900
in the like 1914 week, War BOND
purchases by institutions sWelled
the total.
Cotton Spinning Operations in
May were at l148oo of capacity VS..
1897 in the previous month and
1877 year ago, the Census Bu-
reau announced.
Freight LOadings in the week
ended June Is tOtaled 872.674 cars
a crop of 13r, from the preceding
week and .5oo below year ago, the
Association of American Railroads
disclosed
The Shortage of Sugar will cripple
food processing and home canning
warned Paul S. Willis, president of
Grocery Manufacturers of America
1t is not at all clear that this criti-
cal condition is necessary, he be-
clared.
American Telephone & Telegraph
Co. announced it will register SITS
100000 of 234oe debentures with the
SEC June o. Proceeds will be
used to redeem SITS 100000 of 314 e
debentures, due 1861, at 105 on Oc-
tober l.
Atlantic Greyhound Corp. asked
ICC permission to issue II 900 shares
of 334 preferred stock to finance
retirement of the II preferred.
W. T. Grant Co. stockholders will
vote July l8 on a proposed 2-forl
splitup in common stock and au-
thorization of 250,O00 new preferred
shares of which the firm plans to
offer 10000 initially with a 3a4 q
dividend rate.
Skelly Oil Co. registered with the
SEC s10,000000 Of 20-year 234 n
debentures. due 1865, to finance re-
demption of like amount of 81
debentures. The firm also plans TO
borrow 100000 from banks.
Holly Sugar Co. directors will act
June q on plan to retire $780,
600 mortgage bonds and redeem all
= preferred StOCk.
International Telephone & TeIe-
graph Co. profit for the March quar-
ter was $2O1O,405 VS.. s2.237,456 a
year ago, including all subsidiaries
except some in Europe and the Far
East.
Bendix Aviation Corp. earned So
436,723 or Sl62 share in the March
quarter. No comparisons with 1914
were given.
Spicer Mfgs. Corp. net for months
ended May 81 was sl,91O,659 or SIS. "a
VS.. Sl,768,80l or S5.37 year earlier.
United States Smelling, Refining
& Mining Co. earned S788,5l3 or 20
cents a share in months ended
May 81 vs. $1,174,176 or SO cents a
year ago.
Sperry Corp. net for 1914 was ST.
725.138 or 1888 VS.. 81 ,598 ,343 or S3.77
in 1943.
United States Fidelity & Guar
antee Co. declared an extra of Is
cents and a quarterly dividend of Is
cents, both payable July l6
Graham-Paige Motors Corp. de-
clared an initial dividend of 31l4
cents on the new So convertible
preferred stock, payable October l.
Eastern Air Lines carried the
largest number of revenue passen-
gers on record in May. The total
exceeded 7l,000. jump OF 93es from
a year ago. Passenger miles totaled
36,875.000, gain of ITO.
Aluminium Co. of America received
orders from the Quartermaster
Corps for $4,000 portable troop shell
tefs for use in the Pacific.
Erie Railroad invited bids for the
purchase of 1.40o new freight cars
expected to cost around $5,000,000
United Light g. Railway Co. elect
ed Frank L. Conrad president tc
succeed William G. voolfolk, wnc
became board chairman.