Evening star., 1945-11-11
Business Briefs


Clio ed tomorrow for Armistice Day
celebrations. A few livestock mar
ketS viii be open and Canadian and
British exchanges will operate as
usual.
General Business Activity is re-
covering, according to the index Of
Business Week, which stood at 1912
for the latest week VS.. 1884 in the
previous week, 1925 a month age
and 230.5 year ago.
Steel Production in October de-
clined to 5,620,007 tons, lowest
monthly rate since May. 1910, and
compared with 5,983, 1851 in the pre-
vious month and 7,620,885 a year
ago, the American Iron g. Steel In
stitute announced.
Paper Output for the week ended
November 3 reached $500 of Ca
pacity VS.. 95.8Ge in the previous
week and 93.0To a year ago, the
American Pulp & Paper Association
disclosed.
New York Stock Exchange raised
the salary of its president. Emil
Schram, from $48, 900 to $780, 900 un-
der new three-year contract ex-
piring December 81, 1948.
Listed Bond Values on the New
York Stock Exchange averaged
S103.l6 per $100 at the end of Oc.
tober VS.. $102.60 a month earlier
Market value Of 1000 issues was
$128, TAI ,461 1852 VS.. zoos valued al
$128,511 ,162, 1888.
Textron, Inc, offered to buy al
shares Of Nashawena Mills anc
Nonquit Mills, both of New Bedford
Mass, at $40 a share. Nashwens
has $4,000 shares and Nonquitt 49,
900.
United Cigar-WheIan Stores Corp
directors approved a plan to retire
all cumulative SIS preferred stock by
exchanging shares of prior pre-
ferred for each present share. Un-
exchanged shares will be redeemed
at 100 plus accrued dividends.
international Harvester Co. will
produce a cylinder -engined tractor
said to be the smallest ever made
at new $4,000, 900 plant to be bull
near Alton. Ill.
Pacific Telephone & Telegraph
Co. registered with SEC $4,000 ,00'
of 40-year, 234% debentures, du,
1885, to be offered at competitiv,
bidding for refunding purposes.
General Motors Corp. earnet
$147,749,167 or $500 a. share in
months ended September 80 VS.
$124, ,997 ,304 or $268 a year ago
Profit for the September quartz,
was S36, ,791 ,784 or 78 cents VS.. $42,
227 ,409 or 80 cents a year ago.
Sterling Drug, Inc, net for
months was $8,028,153 or s2,l1 VS.
s6,454,759 or 1892
! Standard Oil Co. of Ohio earne,
s5,l46, $50 in 9 months VS.. $5,323, SO
year ago.
Monsanto Chemical Co. net for
months was s4,101 ,205 or $2.7l vs.
profit of 1923 share in the sam
1914 period.
Hotel Waldorf Astoria Corp. prof
for 9 months was s270,726 VS.. S183,
OCT.
White Sewing Machine Corr
earned $257,717 or 27 cents in
months VS.. $282, ,042 or "a cents
year ago.
Woodall Industries, Inc, net for
months ended August 81 was STOP,
GIL or s2.34 VS.. $328,954 or $1.09 il
the preceding fiscal period.
Carnegie Illinois Steel Corp. sol
its Farrell, Pa, plant to Sharol
Steel Corp. The plant employed /,
800 persons during the war but wa
closed during the coal strike. Oper
ations will be resumed December /;
American Machine g. Foundr
Corp. purchased the former Buffal
Arms Co. plant at Cheektowags
N. Y, from the RFC for $500 ,00t
An additional $l,5o0,000 will
spent for new machinery.
! international Paper Co. called fo
retirement on December 10 all of il
$50 $50 900 general mortgage 33s
bonds of 1856 at 103 and accrue
interest. Funds were obtained fror
30 bank loans.
Cincinnati Gas & Electric c,
stockholders oversubscribed the re
cent offering of 270,000 new A.
cumulative preferred shares in ex
change for SO preferred shares.
Niagara Hudson Power Corp. pla
to reduce the par value of commo
stock from $40 to 81 share an
create a capital surplus of $50, 6,229
OFT was approved by the SEC.
Fruehauf Trailer Co. called for re
demption on December 81, 75,0C
shares of AN convertible preferre
stock at l08.
Bond Stores, Inc, sales for Oe
tober totaled 1851 ,270, a decline {
l5.2G from a year ago; for
months, s37,926,199, a decline {
3.5ee.