Evening star. [volume] (Washington, D.C.) 1854-1972, 1945-07-11
Business Briefs

Electric Power Consumption in
the holiday week ended July Z de-
clined to 1878 i26, 900 kilowatt hours
VS.. 4,353, 351 900 in the previous week
aud 3,940, 1854, 900 in the like 1914
week, reported the Edison Electric
Institute.
Demand Deposits of member
banks in l01 leading cities totaled
s35, S75, 100000 on July 3, drop of
$492 100000 from a week earlier,
but 1894, 100000 above a year ago,
the Federal Reserve Board an
nounced.
Steel Production in the first half
of 1945 declined to 43, 1929 tons VS..
45,l43, 800 year ago as a result OF
cold weather, floods, coal and labor
shortages and other obstacles, the
American Iron e. Steel Institute dis.
closed.
Texas g. Pacific Railway Co. re-
ceived a high bid of 98.639s on a
35s9s basis for $50 900 900 of 4o-year
bonds from Halsey, Stuart & Co.
Reeffering was planned at 1904.
Eyersharp, Inc- registered with
the SEC 80 500 common shares to be
offered by President Martin L.
Strauss, III, and the Advance Corp.
South Coast Corp. registered with
the SEC $2,500,000 of first mortgage
4Ikeo sinking fund bonds, due 1860,
to finance redemption of SO bonds
and provide for expansion.
Mead Corp. sold 100000 Of an
authorized $10,000,000 of 31s8o first
mortgage bonds to four life insur-
anee companies to finance retire
ment of 100000 of 81 % bonds
and increase working capital.
Cleveland Graphite Bronze Co.
asked approval from preferred
stockholders for new term bank
loan to replace its outstanding S.
10000 of notes issued in 1912.
Beech Aircraft Corp. and Cessna
Aircraft Co. stated jointly that
negotiations for a merger Of the
firms announced June II had been
discontinued and that no further
moves would be attempted now.
Best Foods, Inc, signed a contract
for purchase of a large majority OF
Rit Products Corp. stock. Rit is a
dominant factor in the fabric and
household dye industry. 1t will be
operated as subsidiary.
Sears, Roebuck e. Co. stockhold-
ers will vote October on a 4-for-1
splitup in common stock as of that
date. A dividend of rs cents share
was declared payable September 10.
Curtiss-Wright Corp. earned $l4,-
331 ,o62 or $1.6i share for 1874 VS..
sl2,883,3 or $l.42 in 1913. Ship
ments Of $1,716,e35,176 were 32.5%
above the previous year.
International Shoe Co. profit for
6 months ended May 81 was $2,-
966,749 or So cents VS.. $3,i06,250 OF
90 cents q year ago.
New York Air Brake Co. net for q
months ended June 80 was 1881 .541
or STAT VS.. $483 $3.50 or sl.S6 In the
same 1914 period.
Eaton Mfg. Co. announced its VIII
cox Rich division had developed q
new alloy which will greatly extend
the life Of automotive engine valves
1t is called Eatonite.
u. C. Penny Co. sales for June to.
tailed SAL 400, 478, decline of 2%
from a year ago; for months, $241,.
luz ,zoU, d gain Oh 4.oW iIoIn veal
ago.
Sentinel Radio Corp. earned s241,.
512 or rs cents in II months ended
March 81 VS.. s2s7, TT in the previous
year.
S. S. Kresge Co. sales In june
totaled $18,010,826, a gain of 12T
from a year ago; in 6 months, $780,
218,61S, an increase of $50.
Afo Equipment Corp. sales for
months ended June 80 totaled ST.
$4,000 VS.. $7,927 900 a year ago
Unified orders at the end of March
appropriated $4,000, 900.
Westinghouse Electric Corp. ap.
pointed @. A. Hyland sales manager
Of its new aviation gas turbine d.
vision.