Evening star., 1945-03-22
Business Briefs

Bank Clearings in "a leading cities
totaled s11 ,227 $4,000 in the week
ended March 81, compared with
s10,484 ,746 900 in the previous week
but remained slightly below Sill ,268.-
268,oO0 in the like 1914 week. re-
ported Dun g. Bradstreet, Inc.
Freight Loadings totaled 8l5,78e
cars in the week ended March II, q
gain OF go over the previous week
and 3.99o above year ago, the AS
ISOLATION of American Railroads an
nounced.
Iron Ore Stocks at furnaces anc
Lake Erie docks declined to 24,576,.
$50 gross tons on March /, lowest
point in four years, and compared
with 28909.576 a year earlier. the
Lake Superior Iron Ore Association
disclosed:
May Department Stores Co. reg
istered with the SEC 10000 new
preferred shares to raise approx.
mately $15,000,000. Goldman, Sachs
& Co.. and Lehman Brothers heat
the underwriting group.
Corning Glass Works is negotiat.
ing with New York bankers for new
financing. New preferred shares anc
block of common. including some
family holdings are expected to be
offered to the public
Northwest Airlines, Inc. Offered
stockholders the right to purchase
share for each two held. Rights viii
expire April 4.
National DistillerS Products Corp
directors will consider increasing
the 81 regular dividend rate or
common stock at their meeting
March 20. The rate may be in.
creased to around S240
Net Railway Incomes for the first
2 months of 1945 and a year ago
Chesapeake & Ohio. s4,181 ,063 VS.
s4,564,968; Erie, s342,358 VS.. ST..
los, 1872
United States Steel Corp. reported
1914 volume broke all records, bu
profits were less than two-thirds thu
average for the 1920s as labor costs
cut income Net was $4.09 a Shar.
VS.. $3.50 in l943.
Allis Chalmers Mfg. Co. profit TO
1914 was s9,327,616 or S4.77 vs.
S8006, 1863 or $4.51 in the previou
year.
Montgomery Ward g. Co. earnet
$21 ,285 .839 or 1881 a share in l.
months ended January 81 VS.. $40,
677,098 or $3.50 in the precedin,
fiscal period.
Packard Motor Car Co. profit fo
1914 was S4,1l7,910 or 275 cents +.
share VS.. s4,754,587 or 31.7 cents il
the previous year.
J. J. Newberry Co. earned $3,l37
633 in 1914, before subsidiary pre-
ferred dividends. VS.. $3,205 ,998 il
1943.
Melville Shoe Corp. net for 1874
was S2,192 ,797 or s1.85 VS.. $2,452 ,06
or s215 in the previous year.
American Light a. Traction CO
profit for 1914 was $4,678,7 ,70l or 81 a
VS.. s4.546,67 or $1.40 VS.. s4,546, ,676 o
s1.35 in the preceding year.
Anchor Hooking Glass Corp. ne
for 1914 was 81 1854 1896 or $249 vs
81 ,607 1884 or $20l in the. previou
year.
American Bosch Corp. earned 81,
403,113 or $202 IN 1914 VS.. $l.343 ,38
or $l.94 In 1943.
Tubize Rayon Corp. net for 1874
was $l.056. .429 or $l22 VS.. $l,246,13
or $153 in the previous year.
Cities Service Co. application =
increase its investments in 10 sub
sidiaries by more than $4,000, 90
was granted by the SEC.
General Motors Holdens. Ltd, an
nounced 1t would undertake tn
manufacture of automobiles in Aus
tralia, including chasis and engine.
1t will acquire patents and engi
heering services from General Mo
tors Coxp.
Chicago, Milwaukee, St. Paul 1
Pacific Railroad asked ICC permis
sion to issue $2,100,000 of eQuipmen
truot certificats to help finance pur
chase Of 1000 steel boxcars.