Evening star., 1945-10-09
Business Briefs

SLeel Mill operations 1Or Lfle cur
rent week were scheduled at 1856
of capacity, indicating production
of 1,346 300 tons, the American Iron
and Steel Institute, announced.
Figures last week were 1879 and
1,459,8 300 tons; a month ago, 80.3%
and 1,470,900; year ago, 96.99o and
1,743,2 200.
Stock Exchange Membership sold
for $4,000, highest price since 1888,
and up $4,000 from the previous
sale. The current price is $4,000
bid and $4,000 asked.
New Securities Marketed Today
included: SIS, 100000 of Southwestern
Bell Telephone Co. 2a4 debentures
at l01.83; 197,500 American shares
of Industria Electrica de Mexico
at %.
Equitable Life Assurance Society
stepped directly into the new capt.
tai market to outbid 8 large banking
syndicates for a new issue of $751;
$4,000 Pennsylvania, Ohio g. De-
troit Railroad bonds. It bid 991
for 27sfo coupon
Pacific Gas & Electric Co. regis
tered with the SEC 100000 of
series N 80 first and refunding
mortgage bonds to finance redemp-
ton of series I 312 % bonds at los
and interest.
Devoe & Reynolds Co. registered
with the SEC $3,500,000 of 2O-year
sinking fund debentures for refund
ing purposes and working capital.
Gotham Hosiery Co. declared a
quarterly dividend of 25 cents and
an extra of so cents a common
share, both payable November l. In
1914 single dividend of so cents
was paid
Majestic Radio g. Television Corp.
registered with the SEC 100000
shares of convertible preferred
stock to ,be offered publicly at par
of S.. Proceeds will be used for ex-
pansion and working capital.
Central of Georgia Railway an
nounced a S25,000,000 improvement
program will include new equipment,
rail- bridges, safety installations and
buildings.
Falstaff Brewing Corp. will borrow
around $3,0000 900 on a 15-year term
loan to retire preferred stock and
expand capacity 25%.
Southern Pacific Co. ordered rails
and trax fittings for 725 miles of
track replacement, mostly on main
lines. Orders included 1873, 900 tons
of rail from Colorado Fuel & Iron
and Columbia Steel.
Erie Railroad ordered $1,000 tons
of rail from 8 steel companies. 1t
Is the equivalent of lac miles of
track.
Denver & Rio Grande Western
Railroad reorganization plan will be
reviewed by the Supreme Court at
the request of the RFC, holder of
senior securities.
Pan American Airways inaugural
ed a new 48-hour schedule between
Miami and Rio, a reduction of Is
hours from the previous schedule.
General Electric Co. orders in the
first nine months of 1945 totaled
$3.50, ,846, 600 VS.. 81 ,094, ,199 900 a year
ago, drop of 400. Cancellations
of 1862, 1929 900 left q backlog of
around $5o0,000,00o.
Montgomery Ward e. Co. sales for
September totaled $55, ,173 ,586, de-
cline of 13.4eo from aSyear ago; for
8 months ended September 80, $414,-
140,057, gain of 45%.
S. S. Kresge Co. sales for Septem-
Der totaled $16.511,386, a drop of
7.2To from year ago; for 8 months,
$149,el2 ,970, gain of 37qo.
Arms-Franklin Corp. of Youngs-
town, Ohio, purchased the Taylor
Wilson Machinery Mfg. Co. of Nc
Keesrock, Pa. and will operate it
as a subsidiary.
Clayton & Lambert Mfg. Co. pur-
chased the Hoffman Gas & Electric
Heater Co. of Louisville for cash.
Alton Railroad reported net in
come of $l,871 STA for months end
ed August 81 VS.. $1,424,734 in the
same 1914 period.
Baltimore & Ohio Railroad car
loadings for the week ended October
6 totaled 59.053 VS., 65,823 in the pre-
vious week and 1881 year ago.