Evening star., 1945-08-23
Business Briefs
Bank Clearings in "a leading ci

Bank Clearings in "a leading cite.
rose TO s9,054,57 900 in the weel
ended August %, compared with ST..
865 1926 900 in the preceding victory
week and $8,739, ,092 900 in the like
1914 week, reported Dun & Brad.
street, Inc.
Freight Loadings in the week end
ed August 18 totaled 652,832 cars, {
drop of $50 from the previous weel
and 26.4To below a year ago, tht
Association of American Railroad.
announced.
w. T. GRANT Co. declared divi
dend of 40 cents a common share
payable October /. Previous pay
ments were IS cents quarterly.
Julius Kayser e. Co. declared {
dividend of 40 cents a common
share, payable September IS. TIL,
firm paid 80 cents in preceding
quarters.
Motor Products Corp. sold $1,000,
600 of 15-year 3A9o sinking func
debentures to insurance companies
and arranged a $2,50O,000 revolving
credit with group of banks to in
crease working capital.
General Electric Co. is prepared te
spend $4,000, 900 to reconvert facili.
ties at its Schenectady, NJ. Y, plant
to meet expected postwar demand
j. M. Howell, works manager, an
nounced.
Chesapeake & Ohio Railwa,
earned $15,221,571 or s1.99 a share
in months ended July 81 VS.. $16,-
174,501 or s2.l1 a year ago.
Erie Railroad net income for I
months was s4,596,093 or s1.39 VS.
$500, ,266 or $103 in the same 1914
period.
Pere Marquette Railway earned
3,498, $40 or $3124 on first preferred
stock in months VS.. $1,459, ,702 OF
s13.03 year ago.
Detroit Edison Co. profit for Ia
months ended July 81 was $685.
344 or 81 cents common share VS.
s8,441 $50 or $1.33 in the preceding
fiscal period.
United Carbon Co. earned $922,812
or S2.32 in the first half of 1945 VS..
s984,595 or $247 year ago.
Pet Milk Co. net for the June
quarter was $602,6O or s1.23 VS.
S638,567 or S1.3l in the same 1914
period.
International Cigar Machinery Co
earned $517,672 or So cents in the
first half VS.. $483,601 or 81 cents
year ago.
National Can Corp. profit for the
half was $464 ,629 or "a cents VS.
S108, ,755 or Is cents in the first hall
of 1914.
Cornell Dubilier Electric Corn. net
for the half was $457, ,342 or So cents
VS.. $563,091 or $1.33 in the same
1914 period.
POwdreH & Alexander, Inc.
earned $364, $50 or $121 in the hall
VS.. $149,915 or so cents a year ago
North American Co. was author
lied by the SEC to pay a proposed
dividend in Pacific Gas & Electric
Co. common stock on October l al
the rate of Pacific share for each
100 North American shares held.
Consolidated Biscuit Co. stock.
holders defeated management plar
to issue $4,000 shares of convertible
cumulative preferred stock.
Kansas City Southern Railway
stockholders will meet September 81
to vote on preliminary steps for re-
funding outstanding debt.
Brown Co. announced its subsidi.
airy. Shawano Plantation, Inc, sole
its agricultural land holdings in the
Florida Everglades to Hillsbore
Plantation, Inc, for $807,5 500. The
buyer is a subsidiary of Donner Es.
tates, Inc, Philadelphia.
Solar Aircraft Co. has backlog a,
around 100000 900 left after war
contract cancellations cut it about
60eo, President e. T. Price said.
Merck & Co. awarded contract.
for a $500. 900 plant at Elkton, Va.
to make streptomycin, q new anti.
biotic drug. Production will star
early next year.
Allegheny Ludlum Steel Corp. still
needs more workers at 4 of its
plants, but has temporarily cut
work schedules at Watervliet, N. Y
NO layoffs have been necessary al
Buffalo.