Evening star., 1945-05-16
Business Briefs

Electric Power Consumption de-
clined to 1902 ,361 900 kiloWatt hours
in the week ended May II VS..
s4,397. .330 900 in the previous week,
but remained 1.5fo above 4.238. .375.-
400 in the like 1914 week, the Edison
Electric Institute reported.
Demand Deposits of member
hanks in 101 leading cities totaled
539 ,4o0 100000 on May 8, gain of
E343 ,000,000 from week earlier and
1858 100000 above year ago, the
Federal Reserve Board disclosed.
Opposing Abolition of Floor Trad
ing, President Emil Schram of the
New York Stock Exchange. declared
At an SEC conference that the
floor trader performs useful Serv-
ice. When an irresponsible per-
,on violates the rules, you do not
destroy the highway or the market.
You simply attempt to improve the
rules and their enforcement" he
added.
New Issues of Less Than $500 900
are exempted from provisions of the
1888 Securities Act under new legiS-
alton signed by President Tru-
nan.
American Telephone e. Telegraph
Co. declared the usual quarterly di
idend Of $2.25. payable July is.
Johns Manviile Corp. declared a
dividend of Is cents common
hare. payable June 8. Previous
payment was 50 cents.
Allied Stores Corp. declared a COM
mon dividend of 40 cents. payable
July 20, placing the stock on A $3.50
annual basis. compared with 81 pre-
riously.
United Cigar -Whelan Stores Corp.
ttockholders approved a change in
uthorized stock from 100000
hares of 10-cent par value to 5000
90 of 30-cent par value. Three
I'D shares will be converted into
one new share
North American Co. plan to sell
100000 common shares of Pacific
Gas & Electric Co. was approved by
the SEC.
Consolidated Electric & Gas Co.
awarded 100000 common shares of
Mobile Gas Service Corp. to First
Boston Corp. and associates on a
bid Of 16.029.
Ken-Rad Tube e. Lamp Corp.
tockholders voted to sell the incan-
,escent lamp manufacturing plant
! Owensboro, KY. to Westinghouse
jiectric.
Pullman Co. reported profit from
leeping car operations in the March
uarter was $1,741, 1897 VS.. S2.243 BAT
i the same 1914 period
Honolulu Oil Corp. earned s1,134,-
1853 or $126 a share in the quarter
IS. s929,3f6 or 80 cents year ago.
Columbian Carbon Co. net for the
quarter was s953,730 or s1.77 VS..
s859,654 or $3.50 in the same 1914
period.
Philco Corp. earned S846, ,109 or
50 cents in the quarter VS.. S946 1926
or 69,cents a year ago.
Consolidated Film Industries, Inc,
profit was s285 ,702 or II cents in
the Quarter VS.. .$249 ,629 or So cents
wear ago.
Coty, Inc, net for the quarter
was $224,357 or Is cents VS.. $223, 500
or 10 CentS In lie same perloQ last
year.
American Bosch Corp. earned
$178.024 or 26 cents in the quarter
VS.. $535 ,459 or II cents year ago.
Lily-Tulip Cup Corp. net for the
quarter was $195.917 or 81 cents VS..
$153,652 or 81 cents in the same
1914 period.
United Electric. Coal Companies
earned $633 ,020 or S1.16 in 8 months
ended April 80 VS.. $685. .6S3 or $1.15
a year earlier.
Dow Magnesium Corp. was au-
thorized by the DPC to reopen its
Velasco. Tex, plant for full opera
ton. It has been on a standby
status since December l..
First Sterling Steel Co. elected Ar
thur H. Bunker to the board. He
ls former vice chairman OF WPB.
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