Evening star., 1945-06-24
Business Briefs
General Business Activity

General Business Activity has de-
clined further, according to the in
dex OF Business Week, which stood
at 224.2 In the latest week, compared
with 225.2 in the previous week, 228.3
a month ago and 234.8 a year ago.
Poorer Business Conditions are
being reported by an increasing
number of purchasing agents, de-
clared the National Association of
Purchasing Agents. Although cut
backs and cancellations were mot
yet too alarming" fear was ex-
pressed that relaxation of restric-
tions and availability of civilian
materials will not fill the voids
rapidly enough.
Record Oil Production of 5.213, 100
barrels daily was ordered by the
PAW for July. The rate will be
21,000 daily above the previous
month and 14,620 barrels a day
above the previous record rate GER
tilted for May.
Paper production for the week
ended June 16 was 9l1a of mill
capacity VS.. 92.885 in the previous
week and 911a% year ago, the
American Paper g. Pulp Association
disclosed.
General Printing Ink Co. was re-
ported negotiating for merger of
A. C. Horn Co. of New York At
the end of 1914, assets of the latter
totaled s3164,009 and capital in
cluded 55,538 of III prior preferred,
1884 shares of 81 second pre-
ferred and 1926 common shares.
Richmond, Fredericksburg & Po-
tomac Railroad called its S2,740, 900
Of 3To bonds for redemption Sep
tember l. After that date, it will
be the only class I railroad in the
Nation without bonded Indebtedness
Eastern Gas & Fuel Associa tes
asked SEC permission to sell $40
100000 of bonds and $4,000 900 of
notes to finance retirement of S55,-
400. 900 4"o series A bonds
Remington Rand. Inc, earned S.
306, ,489 or S2.54 share in II months
ended March 81 VS. s4,342,87 or
S20l in the previous year.
Houston Lighting & Power Co
net for II months ended May 81 was
So, ,149 1896 or $3.50 VS.. S2,889 $50 or
s49l in the preceding fiscal period
Davega Stores Corp. earned Sl52,-
999 or 27 cents in IL months ended
March 81 VS.. $243,014 or S104 in the
previous year
Atlantic Coast Fisheries Co. re-
ported a defict of S172, $3.50 for II
months ended April 80 VS. profit Of
sl96,635 in the preceding fiscal
period.
Union Electric Co. plan to issue
SO ,000. 900 Of l12 @o promissory notes
to finance retirement of notes ma =
turing June % was approved by the
SEC.
TranscOntinental & Western Air,
Inc, revenue passenger miles In
May totaled 47,426,7 ,723, jump of
68To from a year ago; mail pound
age was 1877 above year ago and
express poundage was up 83Tl.
Pennsylvania Railroad again pc
titioned the ICC for further hear
ings on reorganization of the New
York, New Haven & Hartford Rail-
road. of which it is common
stockholders. A previous petition
was denied
Aviation Corp. deal for control of
Crosley Corp. was outlined in an
application for FEC approval by
Powell Crosley, the seller. Station
WLW and other stations would be
included in the transfer.
Associated Electric Co. was grant
ed an SEC extension until August
% to complete acquisition of all
Indiana Gas Utilities Co. assets.
Utilities will be dissolved
Standard Oil Co. of California
and Atlantic Refining Co. will be
allowed to purchase 3 new oil tank
ers each, the Maritime Commits
sion announced. The vessels, now
under construction, will cost
around s2.850,000 each. The firms
will turn in six obsolete tankers as
part payment.
Humble Oil & Refining Co. re-
finery at Ingleside. Tex, was taken
over by the PAW. officials said
production was uninterrupted.
Keystone Steel & Wire Co. re-
moval of w. H. Sommer as presi-
dent was a personal matter and
did not involve the firms financial
position. the new president, Reu-
ben E. Sommer, declared.
United Cork COMPANIES elected
Edwin j. Ward president.
Bond Club of New York elected
Lee NJ Limbert of Blyth & Co.
president.
Penn Mutual Life Insurance Co.
announced 1t. Col. Eric G. John
son had resumed his post as vice
president in charge of agencies.
Keep faith with our fighters. Keep
buying Bonds through nayroIl