Evening star., 1945-06-01
Business Briefs

Money in Circulation set another
record Of $26,500, 100000 on Nav 30.
a jump Of S101, 100000 from a week
earlier and S4,34000O,000 above a
year ago, reported the Federal Re-
serve Board. The continued rise
Spurred the Treasury's drive against
tax evaders using currency tor hide
income.
Gasoline Stocks of civilian grade
totaled 48,265000 barrels on May 26
VS.. 46,364,00o a week earlier and
46,296,000 year ago, the American
Petroleum Institute announced.
General Electric Co. will build an
S6,000,000 research laboratory at
Schenectady as soon as WPB ap-
proves. 1t will have 50cc more space
than 2 laboratories now in use.
Atlantic Refining Co. exercised
its option with Pantepec Oil Co. to
pay the latter $2,000,000 for half
interest in 81 ,436 acres in Vene-
Zuela.
American Bridge Co, subsidiary
OF Big Steel, is nearing completion
of its contracts for Navy vessels.
The last unit will be launched in
mid-July. Employment at the plant
near Pittsburgh is expected to drop
by the end of the summer to 5000.
compard with wartime peak of
15,40O.
Commonwealth & Southern Corp.
capitalization plan, providing for
single class of common in place
of common and preferred, was ap-
proved by the SEC.
Virginia Railway reported net in
come of S1,986,684 in four months
ended April 80 VS.. S1,740,096 in the
same 1914 period. April net was
S757,615 vs.. S422 ,226.
Wick Chemical Co. earned $2,524.-
$40 or S3.72 a share in 9 months
ended March 81 VS.. S2,542,473 or
S3.74 a year earlier.
Royal Typewriter Co. net for 8
months ended April 30 was S34O.-
866 or 26 cents VS.. S404 ,229 or 81
cents in the same 1914 period.
City Stores Co. earned $560222 or
35 cents a share on combined class
A and common stocks in three
months ended April 30 VS.. $401 1868 or
80 cents year ago.
American Export Lines, Inc, net
for the March quarter was $426, ,522
VS.. 1884, ,30l in the same 1914 period
Diamond Match Co. earned S495, :
OCT or 80 cents in the March quar-
ter VS.. $5l0,104 or Al cents a year
ago.
F. E. Myers e. Bros. Co. net for
three months ended April 80 was
S24l ,409 or S1.21 VS.. $194,973 or 81
cents in the same period last year.
American & Foreign Power Corp
earned $9,454,401 or $1092 on COM
bined preferred stocks in 1914 VS.
$7484,214 or 1854 a preferred share
in 1943.
Crosley Corp. plans a $4,000 Oo(
expansion of its Richmond Ind. }
plant and will concentrate all re.
trlgerator production there.
Montana Power Co. filed a plar
with the SEC to reduce capital
represented by 2,481,665 common
shares from $49. .s33 300 to $40, 200 OOC
without changing the number o1
shares.
New York Stock Exchange sus-
pended dealings in the SO series A
and first and refunding AZ gold
bonds of the Minneapolis & St
Louis Railroad Co.: also the 4Gs first
and refunding bonds of the Iowa
Central. 1t said recent prices were
out of line with reorganization
terms.
Special Offering of 20,321 shares
OF Federated Department Stores
Inc, common stock was made or
the exchange by Lehman Brothers
at 373s, allowing a commission Of
80 cents.
National Steel Corp. will redeem
on June 80 its serial notes due in
1946, 1947 and 1948.
Kings County IN. " Lighting Co
plan to issue IL % S4,200,000 prom
issory note to John Hancock Mutual
Life Insurance Co. was approved by
the SEC.