Evening star., 1946-04-25
Business Briefs

Bank Clearings in "a leading cities
in week ended April "a declined
78 per cent from preceding week
but were 12.5 per cent ahead of
comparable 1945 week. Latest total
of 37O,157,0OO compared with
s12 ,299 1903 900 a week earlier and
s10,105 ,947,O00 a year ago.
Retail Stores reached an annual
rate of $89,500,0 100000 during the
first quarter of this year In 1941,
the total was s55,5O0, 100000 Food
store sales, largest single increase
since VI day, reached annual rate
of S23, ,2O0,000.000 during the first
quarter of 1946-Commerce Depart
n1fnt.
corporate profits for 1945 were
ST, ,900, 100000 before taxes, or l3 per
cent under 1914 Profits for 1945
after taxes were 100000, 7 per
cent under 1944-Commerc De-
p$'tment.
Gasoline Production in the United
States in the week ended April 20
Wis 14,029 900 barrels, gain of 678, 900
over last week Daily average gross
crhde oil production decreased 5,100
barrels, totaling 4,686, 300, compared
with 1851 400 a week ago and 4,797.-
91S a year ago.-Petroleum InSti-
tfe
Union. Carbide and Carbon Corp.
announced retirement of Benjamin
OShea as chairman of the board
ofsdirectors and abolishment of that
Office. He will continue as di-
re6tor.
mississippi Power & Light Co. pro-
posal to issue and sell to its par
ent, Electric Power & Light Corp,
100000 additional shares of COM
mon stock for S2.500,00O cash, was
approved by SEC.
American General Corp. has called
a speciax meeting of stockholders
May % u vote on a proposed mer-
ger with Reco, Inc
Inland Steel Co. stockholders vot-
ed to split company's common stock
three shares for one, effective i'm
mediately. Inland's first quarter
net income was s1,046,958, equal to
64 cents. compared with $2,370, ,948
or $1.45 share for first quarter of
l945.
Cleveland Graphite Bronze Co.
net was S218,214 for the first quarter
Of 1916, equal to So cents a share,
compared with $399,354 or $1.14 for
1945 first quarter.
Wheeling Steel Corp. quarterly
earnings dropped to $22,655, equal to
six cents preferred share, COM
pared with s1,201, ,881, or $1.31 a
common share, in the first quarter
of 1945.
Air Reduction, Inc, first quarter
net income was $7S6, 6,725, equal to 20
cents capital share, compared with
81 ,422,9 ,947, or So cents in the first
three months of 1945.
Climax M0lybdenum Co. reported
for the March quarter net profit of
S504, ,282, equal to 20 cents a capital
share, against $3,085 ,946, or s1.22 a
share, in the first quarter of 1945.
General Electric Co. reported first
quarter 1916 net loss of S13,7 $50,
compared with a profit of S11, 1872
662, or Al cents share, in the first
1945 quarter. Company pays a 40
cents share dividend today.
interviewer Stocking Co. will dis
tribute more than $430000 in prof
its among approximately $500 en-
ployes within the next three months
Mellon Securities Corp. and other
underwriters offered 10000 shares
of Sharon Steel Corp. common al
$3.50 share.
Kidder, Peabody e. Co. offered
24,433 shares of 31a per cent con-
vertible second preferred stock. S1OC
par, eof Burlington Mills Corp. al
$104 share
American Machine g. Foundry Co
offered 10000 shares of SO per cent
cumulative preferred stock, 500 par
at Sl04 and accrued dividends
through Lehman Brothers and Union
SECURITIES Corp.