Evening star., 1945-09-12
Business Briefs

Demand Deposits of member
banks in 101 leading cities totalec
s38,485, ,000,0 900 on September 5. gain
of s345, 100000 from a week earlier
and S3,016,000000 above a year ago
reported the Federal Reserve Sys-
TEN.
Electric Power Consumption ir
the week ended September 3 de-
clined to 3909 .408 kilowatt hours
VS. 4,137.3l3 in the preceding week
and was 75fo below 4,227.900 ir
the like 1914 week, the Edison Elec-
trio Institute announced
August Steel Production dropped
to 5,712,770 tons VS.. 6,987,008 in the
previous month and 7,498,913 a yeal
ago, the American Iron Steel In
stitute disclosed. August output was
the lowest point in 62 months.
Freight Loadings in the second
half of 1945 will run well below
a year earlier and will decline further
early next year, but will remain sub
stantially above prewar levels, the
ICC bureau of transport economic:
and statistics predicted.
Morris Plan Corp. and Industria
Finance Corp. notified holders o.
common and preferred stocks thar
directors had approved merger o.
the firms.
Chesapeake & Ohio Railway an.
nounced that $l00,000,000 of s1Ot
par preferred stock called for in it;
plan to merge the Nickel Plate, Pert
Marquette and w. & L. E. woulc
bear a dividend rate of 3lz2o or "a
Moore Nc Cormack Lines regis.
istered with the SEC 100000 COM
mon shares purchased by Kuhn
Loeb & Co. from Emmett j. Nc.
Cormack, vice president, for offering
to the public.
Public Service Co. of Indiana in.
Vited bids up to September 10 or
S48 100000 of new first mortgage
bonds and 100000 shares of new
preferred stock
Houdaille Hershey Corp. stock
holders approved a refinancing plan
which provides for sale of S6,00O,-
0O0 of l5-year debentures, issuance
OF 10000 shares of new $50 pal
4l2fo convertible preferred and re.
tlrement of present class A stock
Wheeling & Lake Erie Railway
received a high bid of 93.099 fol-
s6,000,000 of "a % bonds from Mel
Ion Securities Corp Reoffering was
made at 9870.
Republic Aviation Corp. is nego.
tiatlng for long-term extension o1
the lease on its Pennington IL. L.
plant, has recalled 1000 employe.
to work and expects to need 4,0Ot
more. New transport and persona
planes will be developed.
Eastern Air Lines carried 84.O0(
passengers in August, a gain of 93%
over a year ago. Passenger revenue
was $50.
WHY'S s-Overland Motors, Inc
profit for 9 months ended June 8
was S2,182 ,005 or 90 cents a share VS.
S2,054 1856 or $l.24 in the same 1874
period.
Bell Telephone Co. of PennsyI
vania earned S5,851 500 in 7 month
ended July 81 VS.. $5,323,O73 a yea
ago.
- " CtlHcN W. Sdl6S Ill Aug us
totaled Sal, 1853 ,38l. a gain of So
from year ago; in months, s319,
S56,652, an increase of $50.
Chrysler Corp. announced its
Plymouth division will be producin
400 cars DAY by the end of 1945 a
the Evansville, Ind, plant.
Island Creek Coal Co. announce,
that test drilling for gas in its Loga,
County CIV. Va9 properties, unde
q working agreement with Colum
bian Carbon Co., has shown ap
proximately 22,o0o,00o cubic feet o
open flow daily.
Great Northern Railway sale O
S75i00 900 general mortgage bond
at a85679 and interest to help re
deem s86,956,000 of outstandin
bonds was approved by the ICC.