Evening star., 1945-09-30
Business Briefs

General Business Activity has de-
clined further, according to the in
dex Of Business Week, which stood
at l64.0 in the latest week VS.. 1868 ir
the previous week, 1886 a month age
and 1903 year ago.
| Larger National Advertfsin
Budgets in 1916 are planned by SO %
Of the companies included in . sur
vey by the Association of National
Advertisers. OF ANA members tax
ing part, 1870 plan larger budgets.
An Innovation in Banking is
planned by the Exchange National
Bank In Chicago, new name for the
Halsted Exchange National Bank,
which will move into new Loop quar-
ters about January l. A wide en-
trance to be cut in the building's s
wall, will enable the customer to
drive right up to receivers and
payers cages.
Universal CIT. Credit Corp. re-
duced financing rates for buyers of
new automobiles. A SO discount on
the unpaid balance will be charged
on 12-month contracts. The pre-
war rate was SO. Rates on used
cars also will be cut shortly.
United Cigar Whelan Stores Corp.
cleared arrearages on S. cumula-
tive preferred stock with declaration
OF a dividend of $26.25 a share, pay
able November /.
Aviation Corp. registered with the
SEC 10000 preferred shares to be
offered common holders October IS
at the rate of one for each 20 held.
Lehigh Coal & Navigation Co. reg
istered with the SEC $4,000, 900
of sinking bonds and bank loans
and increase working capital.
Pennsylvania Power Co. registered
with the SEC $9,793,0 900 OF first
mortgage bonds. due 1875, and AZ, 900
shares of AZ % preferred stock. New
preferred will be offered in exchange
for old shares on a share share
basis plus cash adjustment.
American Locomotive Co. reg
istered 400, 900 common shares to be
offered publicly. Proceeds will be
used to retire part OF its preferred
stock.
National Supply Co. registered ITO
shares Of 500 par value cumulative
preferred stock. Holders of present
preferred will be given exchange
rights.
National Battery Co. registered
&C, 900 common shares, of which
1851 will be sold but a trust
created by the will of. the late Lytton
J. Shields.
Carpenter Steel Co. earned 81, ,109,-
67S or $3.08 a share in IL months
ended June 80 VS.. 81 ,239 .652 Of $3.44
in the previous year.
G. Kreuger Brewing Co. net for 6
months ended July 81 was $213,814
or IS cents VS.. $17l ,956 or 68 cents
in the same 1914 period.
Chicago, Rock Island g. Pa>>fic
Railway awarded S. 200 900 of equip.
ment conditional sales contracts to
70 bank group headed by the First
National Of Chicago on a bid equal
to 162qo interest on maturities
ranging from 1916 to 1855.
Erie Railroad invited bids by Oc-
tober 10 on 81 ,84s, 900 of promissory
note to help purchase 500 new gon-
dola cars.
Electronic Corp. will label new
radio models with accurate per-
Torrance rating data.
National Steel Corp. filed suit in
Federal Court at Wilmington, Del,
asking a judgement of $46,064 70
against the Federal Government for
"unjustly assessed Federal taxes"
American Express Co. will reopen
Rotterdam and Amsterdam onhces
October 1.
Consolidation Coal Co. directors
decided that a larger number of
Pittsburgh Coal Co. preferred hold
ers must assent before merger of
the firms can be accomplished.
Hotels Statler Co. elected John L.
Hennessy board chairman and Ar
thur F. Douglas president.
Montgomery Ward T. Co. an
nounced the resignation of r. S
Stevens as vice president, general
merchandise manager and director.
General Motors Corp. announced
the resignation of william E. Holler
as general sales manager of its
Chevrolet Motor division. He will
be succeeded by Thomas H. Heating.