Evening star., 1946-02-20
Business Briefs

Demand Deposits of member
banks in 101 leading cities totaled
$37, ,o0o, 900 on February 13, a drop
of $279 900 900 from a week earlier
but 81 ,26o, 900 900 above a year ago
the Federal Reserve Board an
nounced.
Electric Power Consumption de-
clined to 3,948, ,620, 900 kilowatt hours
in the week ended February 16 VS.
1885, ,493 900 in the previous week
and 4,472 ,298, 900 in the like 1945
week, the Edison Electric Institute
reported.
Railway Operating Revenues oi
class I carriers in January were
15.3% below year ago, the Associa-
ton of American Railroads esti-
mated. Freight revenues declined
1917, while passenger revenues
were down 2.1%.
Investment Companies as a group
made relatively little change in theil
cash positions in the last 1945 quar-
ter, according to the National Asso-
citation of Investment Companies
Cash and Government bond holdings
on December 81 were $40 of total
assets VS.. 8.99o on September 80.
Living Costs of the average family
of wage earners and lower -salarieo
clerical workers increased 0.4% ir
December and were 1870 above q
year earlier, the Industrial Confer
ence board disclosed.
New Securities Marketed Today
included: $4,000 shares of Universal
ptNfY,rAr Tn la fityo
fern<d stock at 102; $18.757,000 oi
Port of New York Authority general
understanding bonds, eleventh series
due 1885, at 98A plus interest.
Chesapeake g. Ohio Railway stock
holders will vote April % on merger
with the Pere Marquette Railway
Holders of the latter road will vote
May 7. Directors have signed q
merger agreement and elected Rob-
ert j. Bowman to serve as president
j. c. Penney Co. declared a divi-
payable March 80. This was equiv
alent to $105 on old common re-
Gently split 3 for /, on which rs
cents quarterly was paid plus an
extra Of 50 on December %.
Mould Hosiery Co. declared a divi-
dend of Is cents a common share
payable March II. Previous quar-
terly payments were 20 cents.
Homsstake Mining Co. declared q
common stock dividend of Is cents
payable March 20, first since Octo-
ber, 1912, when 37h cents was paid
Philip Morris g. Co. announced
final subscriptions for $3.50 pre-.
ferred stock totaled 1888 shares
indicating that subscriptions fol
1923, ,o20 Of an original total Of 142, ,56:
were rescinded In response to 6
company offer. Decision on wheth.
er to offer 5000, 900 of debenture.
is expected shortly.
Republic Steel Corp. earned &c..
543, ,443 or $1.36 a share in 1945 VS.
$10,130,2 ,296 or $1.44 in the previous
year. Profits were around 4eo OF
investment and less than 2To OF
sales.
American Gas q Electric Co. ne
for 1945 was $12,067, 40 or $2.3l VS.
$12,0S9, 1856 or $2.32 in 1914.
Atlantic Coast Line Railroa,
earned $5,531, ,635 or $6.70 in 1874
VS.. sic, ,10l 1888 or $l9.54 in the pre-
vious year.
Goodyear Tire & Ruber Co. o
Canada reported net of S1,385, $50 o
$3.50 for 1945 VS.. 81 ,352,S00 or SAL
in 1914.
Mohawk Carpet Mills earned 81,
014,257 or $1.91 In 1945 VS.. s1,239,
656 or $2.33 in the previous year.
Franklin Stores Corp. profit for
months ended December 81 wa
$944,094 or $1.34 VS.. s1,352, 300 o
$4.14 In the same 1914 period.
Chicago Mail Order Co. earne
$3.50, ,753 or $1.58 In 1915 VS.. $641, "a
or $l.85 in the previous year.
Leath 4 Co. profit for 1945 wa
4341,55o or $1.92 vs.. $3.50, ,s44 or $13
in 1914.