Evening star., 1945-01-16
Business Briefs
Strong Pressure for Higher Pric

Strong Pressure for Higher Prices
will continue in coming. months,
James F. Brownke, OPA deputy
price administrator, told the Iron
and Steel Scrap Industry Advisory
Committee
Leather Shoe Production for civil
ians will be cut by S., 600, 900 pairs in
1945 and as result at least 160,-
100000 pairs of non-leather shoes
will be needed, declared Vice Presi-
dent w. w. Stephenson of the Ma
tional Shoe Manufacturers Associa-
ton.
Postwar Oil Output will be cut
sharply as conservation measure,
and Middle Eastern and South
American Oil will supply most of
Europe's needs, predicted the mag
azine Ethyl News, issued by Ethyl
Corp.
Florida East Coast Railway Co.
capitalization would be increased to
$40,500,000 from $37 100000 and the
first mortgage paid in full in cash
under a drastically changed reor-
ganization plan approved by the
ice.
Virginia Electric & Power Co.
called for bids by February % on
its remaining transit facilities in
Portsmouth, Petersburg, Newport
News, Hampton and Phoebus, Va
Burlington Mills Corp. stockhold-
ers were told directors would recon-
mend 2-for-1 common stock split
up through issuance of new shares.
Panhandle Eastern Pipe Line Co.
directors voted to split common
stock for /. Holders will vote in
March.
A New Treasury Exchange Offer
will enable holders of more than
$4,000, 900 900 of q % certificates of
Indebtedness, due February /, and
S412,000,000 of Commodity Credit
rs % securities, due February Is, to
exchange their holdings for a new
issue of q % certificates on January
%.
Weatherhead Co. offering of 20,-
900 shares of $5 cumulative pre-
ferred stock was marketed at S97 so
a share by group headed by Mer-
rill Lynch, Pierce, Fenner & Beane.
Tide Water Power Co. received
high bids from w. c. Langley & Co.
and associates for $4,500,000 of first
mortgage bonds and S1,000,O00 of
debentures. Bids were l0108 for
3ls9o bonds and 10046 for 35s % de-
bentures.
International Minerals g. Chemi-
cal Corp. called $1,800,000 of 21a %
debentures and $4,500,000 of 40 de-
bentureS for redemption February
20. Funds will be raised by a new
s8,000,000 10-year loan at 234%.
Standard Oil Co. of Ohio called
for redemption by lot on February
%, $4,000 shares of Az % cumula-
tive convertible preferred stock at
$105 share and accrued dividends.
Dow Chemical Co. earned S4,743,
062 or $331 in months ended No
vember 80 VS.. SO sos ,684 or $2.75 in
the same 1943 months.
A. G. Spalding & Brothers net for
II months ended October 81 was
1923 $3.50 or $1.29 VS.. $502, ,842 or 81
in the previous year.
Hiram Walker GOoderham &
Worts Ltd. and subsidiaries earned
$1,942,659 or $3.50 share in Cana
dian currency in months ended No
vember 80 VS.. $1,785, AL or $228 In
the same 1943 period.
Wesson Oil g. Snowdrift Co. profit
for 8 months ended December
was $500 ,205 or 36 sents VS.. $3.50, 1854
or A cents year ago.
ID. A. Schultz, Inc, reported net
of 81 ,029, ,045 or s108 for IL months
ended October 81 VS.. 1858, ,729, or 81
cents in the previous year.
Atchison, Topeka & Santa Fe Sys.
tenn earned SAT, 7,263,157, or $17.3l In
II months ended November 80 VI
90. .7oe. .s57. e. Sass . year ago.