Evening star., 1945-08-29
Business Briefs

Electric Power Consumption rose
to 4.l16,049 900 kilOWatt hours in the
week ended August 25 VS. 1888, 1876. =
900 in the previous week, but was
68cs below 4,418298, 900 in the like
1914 week, reported the Edison Elec-
trio Institute
Demand Deposits of member
banks in 101 leading cities totaled
S37 ,587 900 900 on August %. gain
of Sl43,000000 from a week earlier
and S3,l87 900, 900 above a year ago
the Federal Reserve Board an
nOunced.
Deliveries of NOn-rated Steel will
not be possible in large quantities
Immediately, but the outlook for
October indicates an easier situa-
ton, declared the magazine Iron
Age
Edward G. Budd Mfg. Co. an
nOunced expenditure Of So 900 900 for
new equipment to take care of eX-
panded automobile work.
Phelps Dodge Copper Products Co.
started construction of new $4.-
100000 rod. wire and cable plant on
3l-acre site at Fort Wayne, Ind
:
holders approved an increase in
common stock from 100000 shares
to l2,500,000 and issuance Of the new
shares for old on, the basis of for /.
Columbia Gas & Electric Corp.
plan to issue S22.000000 of 2-year
112so notes to help finance retire
ment of S32 100000 So debenture
bonds at l02 and interest, was ap-
proved by the SEC. The notes will
be sold to commercial banks
Chicago, Rock Island & Pacific
Railroad distribution Of $34,279, $50
cash bonds and general creditors
was approved by Federal Court at
Chicago
Feeders Mfg. Co. stockholders will
vote October 16 on a proposed 5-for-
splitup in common stock.
Atlas Drop Forge Co. stockhold-
ers approved sale of certain assets
to Spicer Mfg. Corp. and liquidation
of the remainder.
Kaiser Frazer Corp. will Gormu-
late an offer to the Government for
Willow Run, said Henry J. Kaiser,
jr., son Of the West Coast Industrial
list, on his arrival in Detroit. we
believe we have good chance OF
getting the plant he declared.
American Gas & Electric Co. will
buy 98rc of the stock of Indian
Service Corp. from Midland Utili-
ties Co., subject to reorganization
plans and approval of regulatory
authorities.
United Air Lines is ready to spend
around Sl0,000,0O0 for electronic and
other technical flying aids develop
ed during the war, said President w.
A, Patterson.
Commonwealth & Southern Corp
profit for 7 months ended July 81
was S7,8ll,718 or S527 a preferred
share VS.. S7,171214 or $484 in the
same 1914 period.
Timken Roller Bearing Co. earned
$2,931 1865 or $121 a share in the
first half of l945 VS.. S2,896,6l4 or
$l.20 year ago.
First National Stores Co. profit
for the June quarter was $558. .497 or
So cents VS.. S590,527 or 70 cents in
the same 1914 period,
Consolidated Cigar Corp. earned
S561 ,679 or Sl68 in the first half VS.,
S646,8O6 or Sl.85 year ago.
Servel, Inc, profit for 9 months
ended July 81 was S1,l36,20 or Sc
cents VS.. sl,058976 or 81 cents in
the same 1914 period.
TruaXTraer Coal Co. and SUBJ
sidlaries earned S245, ,945 or 40 cents
in 3 months ended July 81 VS..
$303,874 or 50 cents a year ago.
Jewel Tea Co. sales in weeks
ended August II totaled $4,615,07
a gain of 8.lgo from year ago; in
81 weeks ended the same date, $780,
350,954, an increase of 7.7o6.
Carnegie-Illinois Steel Corn. ap-
pointed Carl A. Ilgenfritz vice presi-
dent in charge of purchases. He
has been with Republic Steel.