Evening star., 1946-02-06
, Business Briefs
Demand Deposits of member b

Demand Deposits of member banks
in 101i leading cities totaled $685.
026000,00o on January 80, a decline
of $11,000,000 from a week earlier,
but 1886, ,000, 900 above year ago,
the Federal Reserve Board reported.
Electric Power Consumption de-
clined to 1886, ,000, 900 kiloWatt hours
in the week ended February 2 VS..
1854, 1865 200 in the previous week and
was 1886 below and 4,524, ,134 900 IN
the like 1945 week, the Edison Elec-
iris Institute announced.
Retail Store Chains reported the
followfag January sales and changes
from year ago. Lerner Stores, $5,-
844,712, up 2.3ao; McCrory Stores,
S4,923,516, up 40; Mercantile Stores.
S5,001 TOO, up 74@o; Interstate De-
partment, $2,704, ,448, down 1870
Neisner Bros, $2,383 ,581, up 49o.
Union Pacific Railroad awarded
44,493 900 of new 30-year debentures
to a group headed by Halsey, Stuart
g. Co. on a bid of 107.789. The is
sue was resold quickly at 10812, sub
ject to ICC approval. The price rep
resented a yield of 2.478o to ma
turity, lowest net interest cost to
railroad in history.
Public Service Co. of New Hamp-
shire asked SEC permission to in
crease authorized common stock by
2,5O0,000 shares OF $40 par value anc
create a new class of S100 par value
preferred shares.
Iowa Power g. Light Co. invited
bids until February Is OIL $1,000
shares OF new cumulative preferred
stock to replace present go and 7%
preferred shares. The proposed is
sue was approved by the SEC.
Madison Wis., Gas & Electric Co
received high bid of l01.56 for S4,-
100000 of 21a % bonds from a group
headed by Harris, Hall & Co. Re.
offering is planned at 1924.
Industrial RayOn Corp. stockhold.
ers will vote March 27 on proposed
2-for-l split in common stock anc
an increase in authorized stock from
100000 to 100000 shares.
Continental Steel Corp. stock.
holders will vote March 10 on a pro-
posed 21z-for-1 split in common
stock.
Tubize Rayon Corp. stockholder,
approved a proposed merger of thu
firm with Celanese Corp. of Amer
lea. Celanese holders will vote to.
morrow.
proved issuance of 100000 new Gu.
mulatlve preferred stock, and waivee
-emptlve rights to 10000 of then
and to 100000 common shares to bt
issued.
Electric Boat Co. was reported ne.
gotiating for the purchase Of severa
plants in >the general machinery
Tield. The companies involved have
an annual volume of more thar
$1O,000,O0o.
Pacific Lighting Corp. earned S.,
853, ,653 or $500 a share in 1945 VS.
S6,331 ,037 or 1881 in the previous
year.
Electric Bond e. Share Co. prof
for 1945 was $2,768,27 or S2.65 OF
combined preferred stocks VS.. 81,
622,479 or $4.30 in 1914.
Parker kust Proof Co. earne,
$706,268 or S1.64 in IL months ende,
September 80 VS.. $804, 300 or $1.87 il
the preceding year.
Westinghouse Electric Corp.
fooled up and ready to CO. whel
the strike of its CIO electrical work
ers ends, said j. H. Jewell, manage
of the industry sales department.
production, schedule far exceedin,
prewar levels is planned.
New York Life Insurance Co. re
ported insurance in force on Decem
ber 81 totaled 81 ,979, ,193, ,102, a nev
record and a gain of $334 ,4S9 81.
from year earlier. Sales OF ney
life insurance in l945 totaled 1854,
10000, an increase of s38. $50 80
over 1914.
r.. Lorillard Co. will spend $500,
900 expanding cigarette production
at Louisville, KY.