Evening star., 1945-06-13
Business Briefs

ElectTlC rover Consumption in
the week ended June 9 rose to A.
327 ,028,000 kilowatt hours VS.. 4,203,-
$4,000 in the previous week and was
l.5fo above 4,264 100000 in the like
1914 week, the Edison Electric In
stitute announced
Demand Deposits in member
banks of 101 leading cities totaled
$40 O,683 900 600 on June 6, gain of
S305 900 900 from a week earlier and
S3,804 900 900 above a year ago, the
Federal Reserve Board disclosed.
Crosley Corp. merger into Avia-
tlon Corp. was reported being dis
cussed in New York and Cincinnati
financial circles. Crosley holders
would receive Aviation shares for
each of their shares, it was under
stood.
Columbian Carbon Co. directors
authorized 3-for-1 splitup in COM
mon stock, effective September q
Two new shares will be issued fol
each present share
Johns -Manvile Corp. plans tc
issue S17,0O00OO of convertible pre-
ferred stock in July to provide funds
for postwar operations, President
Lewis H. Brown said. Stockholders
will be given prior rights to SUBJ
scribe for the stock.
Gulf, Mobile e. Ohio Railroad
asked permission at an ICC hearing
to merge the Alton Railway to COM
plete a new 3,000-mile line from the
Gulf to the Great Lakes. Alton
bondholders would receive $500 ir
40 G. M. g. o. bonds and 7A COM
mon shares for each $1,000 of Alton
bonds, Early ICC approval was ex-
pected.
Continental Baking Co. registered
with the SEC s16,5OO0 900 of 20-year
go debentures, due in 1865. Most
of the proceeds would be used to
retire SIS, 5,1T5,0O0 of bank and in
surance company loans.
Trailmobile Co. registered with
the SEC 10000 shares of $3.50 Gu
mulative convertible preferred stock
10 finance retirement of 78o pre-
ferred shares and increase work.
ing capital
A. s. Campbell Co. registered with
the SEC $4,000 cumulative preferred
shares and $4,000 common shares
Proceeds will retire bank loans.
Cup Machine Service Corp. regis
tered with the SEC 5000 preferred
shares and $4,000 common shares tc
finance purchase of vending ma
chimes and increase working capital
Twin City Rapid Transit Co. di-
rectors approved plan to offer :
shares of new SO preferred i'll ex-
change for each share of To pre-
ferred, on which arrearages amount
to $40 a share.
Greyhound Corp. system profit
for the March quarter was 81 ,582,-
693 or 54 cents share VS.. 81 2,042, ,65s
or n cents in the same 1914 period
American AirIines earned 81 ,466,.
GOT or S113 in months ended Apri
30 VS.. $956,697 or IA cents year ago
New England Telephone e. Tele.
graph Co. net for months endee
April 80 was S3.262, ,153 VS.. $3,033, ,98:
in the same 1s44 period.
Missouri Kansas Texas Line.
earned S1,791 .851 in 4 months ended
April 80 VS.. $685. ,697 year ago.
Pan American Airways net for 1874.
was $1,619 ,309 on a gross of s95 ,000,.
900 VS.. 81 ,929,764 profit on a recors
gross of S126, ,000,0 900 for 1943, tn,
annual report stated.
International Petroleum Corr
earned $18,146,2 or SIPS in 1914 VI
s15,953,549 or $1l0 in the previou
year.
Bank Of America directors put tn,
new scommon stock on an annua
dividend basis of $1.60 by declaring
a selniannual dividend Of 80 cents
payable June 80.
Reliable Stores Corp. declared al
extra of so cents and a regular
quarterly dividend Of 12lk cents {
COMMON share. payable July l.
Baltimore Transit Co. elected
Freds A Nolan president. He ha,
beens president and general man
asers OF the Los Angeles Transi
Ilns