Evening star. [volume] (Washington, D.C.) 1854-1972, 1945-05-04
Business Briefs

Shortages of Retail Goods MAY
halt the boom in department store
sales, the Richmond Reserve Banl
warned. Present sales will be diffi.
cult to maintain unless the bidder
price rise in goods substitution b.
sufficiently important to Offset lowel
volume OF sales In any standard
types Of merchadise, the bank added
Money in Circulation set another
new record of $26 ,204 900 900 on MAY
2. a gain of $50, 000, 900 from a weel
earlier and s4,590, 900 900 above 4;
year ago, reported the Federal Re
serve Board.
March Exports rose to 81, 029 ,O00,.
600. a gain of 179o over the previou.
month and largest volume since No.
vember but remained below the 1874
monthly average of 81, 186, 000, 900
the Commerce Department disclosed
Most of the March gain was in com.
mercial exports.
Winter Wheat Crop, based on Ma,
condition, was estimated by C. M
Calvin of Chicago at $40 ,659, OO(
bushels, gain of IS, 586, 900 from las
years actual harvest and 263, 665 ,OO
above the 1882 average. Condi
ton OF the crop was estimated 90T
OF normal VS.. 1870 month Garlic
and 1872 a year ago.
Pure Oil Co. declared a dividen
OF Is cents common share, pay
ahle June IS. In previous years, tn
firm. made single payments at tn
ye2rend. including 81 in 1914 an,
Is cents in 1913.
Guantanamo Sugar Co. stockhold
ers will vote July IL on a plan t,
offer % shares of new IS preferred
for each present preferred share, OF
which dividend arrearages amour
to $3.50 share. Unexchanged pre-
ferred shares would be redeemed a
los plus accrued dividends.
Grammar Aircraft Corp. declared
a dividend of s1.50 a common share
payable May "a. A year ago 81 wa!
paid.
Southern Pacific System earned
s8,902 ,408 or 1896 a share in tn,
March quarter vs.. s11,445, 1893 o.
1898 q year ago.
New Jersey Zinc Co. net for tn,
quarter was 81 1857. 40 or SO cents VS.
s1,3S4,929 or SO cents in the sam,
quarter last year.
Houston Oil Co. of Texas profit il
the quarter was $800,445 or go cent!
vs.. slit 1902 or So cents in the sam,
1914 period.
Mid Continent Petroleum Corn
earned 81 ,627 ,996 or SO cents in tn,
Quarter VS.. 81 ,42S,170 or n cents ,
year ago.
Pittston Co. net for the quartz,
was 1862 ,241 or 96 cents VS.. 1892 90;
or IS cents in the same 1914 period,
Abbott Laboratories earned Still.
1853 or 81 cents in the quarter VS.
s761 ,931 or SO cents a year ago.
Paramount Pictures estimate,
oAof1t for the March quarter wa
S4,007 900 VS.. $3,814,000 in the sam
quarter last year.
May Department Stores earne,
$500 600 or $4.52 in IL months end
ed January 81 VS.. $685., 900 or $40
IN the previous fiscal period.
Michigan Consolidated Gas Co
net for II months ended March 3
was $2.839, 622 VS.. 1885,, 1893 In tn
preceding year.
81 Paso Natural Gas Co. earne,
s2,174, sos or 1851 IN II months end
ed February % VS.. $2,234, 726 O
s2:M In the previous fiscal period.
Eversharp, Inc, profit, includin
Canadian subsidiary, was $1,009,14
or $3.50 in II months ended Feb
ruary % VS.. $465,844 or 1910 o.
fewer shares in the preceding veal
Vulcan DEFINING Co. profits il
hefrst quarter were slightly abov
year ago. despite drop in bust
hess, stockholders were told. Tn
gain was due to interest, dividend
and sale Of securities.
Clayton & Lambert Mfg. Co. &C
quired Lamneck Products Co. O
Middletown, Ohio, makers of pre-
fabricated steel silos and other farm
products.
American Export Airlines, Inc
elected Sumner Sewall, former Gov
erncr Of Maine, as president and di
rector. He succeeds w. H. Coverdale
who will remain as q director.