Evening star., 1945-06-27
Business Briefs

Demand Deposits IN member
banks of 101 leading cities dropped
to $37,176, 100000 on June 20, a de-
cline of $4,0l3,000,000 from a week
earlier and only $750, 1000 900 above a
year ago, the Federal Reserve Board
reported. Major factor was absorp-
ton of idle funds by the Seventh
War Loan drive.
Electric Power Consumption rose
to 4,358 ,277 900 kilowatt hours in the
week ended June %, compared with
4.348,413,000 in the previous week
and 4,325, 5,417,000 in the like 1914
week, the Edison Electric Institute
announced.
Bethlehem Steel Corp. registered
with the SEC s75,00O,0oO of 25-year
234eo series I bonds to help finance
retirement of S92 1888 900 outstand-
ing consolidated mortgage bonds by
October l. The new bonds are to
be offered publicly soon after mid
July.
Colorado Fuel g. Iron Corp. SUBJ
n1itted a merger plan to directors of
Wickwire Spencer Steel Co. calling
for 2-for-1 split of Colorado stock
and issuance of so convertible pre-
ferred stock, which would be ex-
changed for Wickwire stock.
Schenley Distillers Corp. stock
holders will vote August Is on a plan
to split common stock by exchang-
ing old shares for new shares.
Bond Stores, Inc, stockholders ap-
proved an increase in common
shares from 100000 to 2,50000O and
a 2-for-1 common stock splitupI
Westinghouse Electric Corp. sales
Of $326,258,529 in months ended
May 81 were about the same as a
year ago, but net income dropped to
S7,689 ,043 VS.. 1881 $50 in the same
1914 period, decline of liz, said
Chairman A. w. Robertson.
General Electric Co. still has more
than $l,000,000,000 of orders on it's
books War contract terminations
In months of this year averaged
S23,000,000 a month VS.. $4,000 900
monthly year ago.
American Power & Light Co. and
subsidiaries earned S4,270,234 or
s24l share on combined preferred
stocks in months ended February
% VS.. $3,040,867 or Sill preferred
share year earlier.
Chicago, Burlington g. Quincy
Railroad net income for S months
ended May 81 was S11 ,345, ,O80 or
1854 a share VS.. $7.940,082 or S4.65 in
the same 1914 period.
Norfolk g. Western Railway net
for five months ended May 81 was
s9,367 ,287 or $6.40 VS.. $9,246 004 or
S6.32 in the same 1914 period.
Western Maryland Railway earned
1882, 800 or $897 on first preferred
in five months ended May 81 VS.. ST.
09,621 or $10.76 on first preferred a
year ago.
American Type Founders, Inc.
earned $857 $50 or $l.51 in IL months
ended March 81 VS.. $l,000,685 OF
SITS in the previous year.
United States Plywood Corp. profit
for IL months ended April. 80 wa.
S1,215,995 or $1.86 VS.. $878,742 o.
$2.7l in the previous year. In the
last year, the stock was split for /
United States Leather Co. callee
1896 shares of TO prior preference
stock for redemption October ! al
ITO plus the regular dividend.
Aeronca Aircraft Corp. will star
production of light planes for civil.
ians shortly before Labor Day. They
will carry persons and have {
cruising speed of 80 miles an hour.
National Tea Co. sales for weeks
ended June 16 totaled $7,615, $50 VS.
$7,662,702 year ago; for the veal
to date, $43,918,875 VS.. $45. 1882, 2,142.
r. ]. Reynolds Tobacco Co. stock.
holders authorized 5000, 900 of new
preferred stock, of which $40 900 ,00(
will be issued shortly.
Missouri Kansas Texas Railroad
elected Lewis E. Pierson boarc
chairman to succeed the late Mat
thew ]. Sloan.