Evening star., 1946-02-04
Business Briefs
Consumer Credit outstanding

consumer Cre0lt Outstanding at
the end of December totaled $6,605,-
100000, a gain of 1925 100000 from
a month earlier, the Federal Re-
serve Board estimated. The total
was around 14% above a year earlier,
with installment loans showing an
increase of more than 900.
The Inflationary Effect of higha.
wages can be absorbed only through
increased efficiency and increased
man-hour output" the National City
Bank stated in its monthly letter.
Paper Production in 1916 should
rise 100000 tons above the 1945
total of 17,300,000 tons, declared
E. w. Tinker, executive secretary of
the American Paper & Pulp Asso-
citation.
Motor Freight Volume in Decem-
ber totaled 1,674,945 tons VS.. 1855, ,194
in the previous month and 1905 1895
in the same 1914 month, the Ameri-
can Trucking Associations reported
Because of Higher Costs, munich
palities are discovering that con-
tractors bids on construction work
are ranging 209o to 500 above the
cities own estimates, according tc
the International City Managers AS
sociation.
Pittsburgh Metallurgical Co. stock
holders will vote February Is on a
proposed 2-for-1 split in common
stock and an increase in authorized
stock from $50, 5000 to 10000 shares
R-K-O Theaters, Inc, sold $22,-
100000 Of go 20-year debentures to
equitable Life Assurance Society
About $10,000,000 will be used for
refunding and the remainder added
to working capital.
Sutherland Paper Co. earned 5000,
002 or $2.12 a share in 1945 VS.. $710,-
099 or S2.47 in the previous year
Transue g. Williams Steel Forg-
ings Corp. profit for 1945 was $685.
518 or SIT, subject to renegotia-
tion, VS.. $343, ,788 or $254 in 1914.
Mid Continent Airlines, Inc.
earned s171,973 or A cents in 1945
VS.. $136,976 or So cents in the pre-
vious year.
st. Regis Paper Co. purchased
Nashua River Paper Co., producer
of Kraft paper at East Pepperell,
Mass, and will operate it as a
wholly owned subsidiary.
American Home Foods, Inc, ac-
quired Chef Boy-Ar-Dee Quality
Foods. Inc, Milton, Pa, in exchange
for $1,000 American Home Products
Corp. shares worth around $6,000,-
600 at current market prices.
Glenn l.. Martin Co. directors au-
thorized expenditure of 1900, 900
for plant to make a new elastic
plastic.
Pan American World Airways an
nounced sharp cut in air express
rates between Havana and Miami.
Pullman Standard Car Mfg. Co.
expects production at its Bessemer,
Ala, plant to reach 900 freight cars
a month within 80 days and 1,400 a
month later.
United States Sugar Corp. an
nounced the development of a ST.
000, 900 root-starch industry utilizing
$4,000 acres of reclaimed Florida
everglades and employing $500 per-
sons. Plants are already turning
out test runs OF starches.
Lockheed Aircraft Corp. is con-
structing 3 new service hangers at
Los Angeles at cost of $3.50, 900
One will service planes larger than
the Constellation.
Kaiser-Frazer Ccrp. will start au-
tomobile production at its Long
Beach plant by June or July, said
Henry j. Kaiser, jr., vice president
and general manager.
Continental Can Co. elected Hans
A. Eggerss executive vice president.
Reliance Electric & Engineering
Co. elected Edward E. Helm vice
PRECEDENT in charge of sales.
Bankers Trust Co. of New York
elected Paul Russell Virgins assist
ant vice president He was former
ly vice president of Commercial
C.edit Corp.
international Business Machines
Corp. appointed James w. Birken-
stock general manager.