Evening star., 1945-04-27
Business Briefs

Lowering of Gold Reserves OF
Federal Reserve Banks to $3.50 OF
their deposits and note circulation
Is provided in bill passed by the
Senate and sent to the House.
Money in Circulation set a new
record of $26, ,074 900 900 on April IS
a gain of $6,00O,0O0 from a week
earlier and $4,678 ,0O0, 900 above a
year ago, the Federal Reserve Board
reported.
Erie Railroad was authorized by
the ICC to issue S83,775 900 of 31s %
first consolidated mortgage bonds to
be sold at 1889 plus interest.
Deere & Co. registered with the
SEC $19 $500, 900 of 20-year "a % de-
bentures and expects to sell $40 0,50O,.
900 of notes privately to banking
group.
Godchaux Sugars, Inc, registered
with the SEC 20 $40 shares of $4.5t
preferred to be offered in exchang,
for present 81 preferred at the rats
of IL shares Of new stock for each
old share plus cash adjustment.
Ogden Corp. asked SEC permis.
sion to reduce the par value of it.
common stock from 81 to so cent.
a share and make a SO distribution
to share holders from the resulting
capital surplus.
Grand Union Co. declared a divi.
dend of IS cents a share, payable
June II. The firm previously paio
Is cents quarter.
General Motors Corp. earned $50,
341,7 ,720 or "a cents a share in the
March quarter VS.. SAL ,060, ASS or 81
cents year ago.
Bethlehem Steel Corp. profit fol
March quarter was $7,695 ,909 or $40:
VS.. $6,432,538 or $l.6l In the sam.
1914 period.
Standard Oil Co. of California net
for the quarter was $12, 1853 ,052 or IS
cents VS.. 1882 GOT or so cents in the
same period last year.
Chicago. Burlington & Quincy
Railroad earned $7,350.762 or $4.3(
in the March quarter VS.. $5.19l 1886
or S3.04 a year ago
Pennsylvania Railroad net for tn,
quarter was $21, ,544, ,657 VS.. s26, ,32e, ,81(
in the same 1914 period.
Western Maryland Railway earnee
$1,053,088 in the March quarter vs
81 1856 ,563 year ago.
Alllis. Chambers Mfg. Co. net fol
the quarter was 81 ,979 ,582 or 05 cent
VS.. $1.789, ,693 or $101 in the sam,
1914 period.
Hershey Chocolate Corp. earnet
$l,439,844 or $1.63 in the quarter vs.
81 .430.807 or $1.62 a year ago.
National Acme Co. net for thu
quarter was $414,134 or SO cents vs.
$341 AS or So cents in the same 1914
period.
Transcontinental T. Western Air
Inc, earned $504 ,00S or So cents il
the March quarter VS.. a deficit o
$102. .403 q year ago.
National Cash Register Co. ne
for the quarter was $3.50, ,034 or 8
cents vs.. $849, ,344 or 50 cents in tn,
same 1914 period.
Paraff1ne Companies, Inc, earnet
$479,473 or o6 cents in the quartz
VS.. $47l ,2@ or ~ cents q year ago
Atlas Powder Co. net for the guar
ter was $437, ,857 or $1.37 vs.. 1898 "a
or o. cents In the same 1914 period
Nash Kelvinator Cerp. earne,
4510258 or II cents in the quarte
VS.. $401 ,0A or II cents year ago.
American Metal Co, Ltd, net 70
the quarter was $468, ,528 or 80 cent
VS.. $447, ,351 or % cents in the sam
1914 period.
Continental Can Co. earned $6.
042,991 or $2.43 In II months ende,
March 81 VS.. 45,519,873 or $193 Ii
the previous year.
Baldwin Locometive Works profl
for II months ended March 81 va
44072,5 ,564 or 43.4o VS.. $5,052 ,O2O o
$3.50 in the preceding fiscal period
Walgreen Co. earned 81 ,641,5o2 o
el.15 La 8 months ended March :
~ $l.7t7,73s or $1.l6 . year earlier