Evening star., 1946-12-01
Business Briefs

Money in Circulation expanded to
$28, ,815 ,260 900 on November 81, a
gain of $126,000,000 from week
earlier and s646, 600 900 above year
ago-Federal Reserve Board.
Business Loans Of member banks
in New York City declined s23,000.-
600 in the week ended November 27,
first drop in five weeks-New York
Reserve Bank. Liquidation of cotton
and distilling loans accounted for
most of the decline.
Prices Received by Farmers de-
clined to 1880 of the 1909-14 aver
age on November IS, drop OF 10
points from a month earlier, but So
points above a year ago-Agricul-
ture Department.
Wholesale Price Average of the
Bureau of Labor Statistics stood at
1887 of the 1926 average on No
vember %, a gain Of liz from a
week earlier and new high since
1920. The average has risen 21.8%
since the end Of last June.
Apparel Wool Consumption by
United States mills in nine months
of 1946 totaled 462, 100000 secured
pounds, gain of about 100000
from year ago and more than dou-
BILE the 1859 average-National
Association of Wool Manufacturers.
Auto Production in the United
States totaled 81 ,286 units in the last
week VS.. 92,531 in the previous week
I-Automotive News. November OUT
put was estimated at 257, ,658 cars
and 96,811 trucks VS.. 285, ,562 and
100 ,953 in the previous month when
new postwar record was set.
Home Washer Sales in October
set a new monthly record of 247,-
$50 units, gain of 34To from the
previous month and jump of 68%
from the same 1941 month
American Washer & Ironer Manu-
facturers Association. In 10 months,
sales totaled 1,611,357 units VS..
1,743,545 in the I941 period.
Stock Exchange Membership
changed hands for $4,000. an ad-
vance of $4,000 from the previous
sale.
Unsettled Market Conditions
caused the. withdrawal of SEC
registration statements for the
offering of 10000 common shares
of Copco Steel & Engineering Co.
and 148,176 common shares of Jet1-
sen Mfg. Co.
/ Birmingham Electric Co. received
SEC permission to redeem its ST
and s6 preferred stocks and issue
81, SOC, 900 in notes.
4 Consolidated Retail Stores de-
clared an extra dividend of 30 cents
and regular quarterly of 40 cents,
both payable January 2. An extra
of Is cents was paid a year ago.
i Art Metal Construction Co. de-
clared an extra dividend of SO
cents, payable December "a, and a
. regular dividend of the same
amount, payable January 2, lifting
1916 payments to $3.50 VS.. 50 in
1915.
McGraw Hill Publishing Co. de-
clared a year-end dividend of Is
cents, payable December 20, raising
1916 payments to $1.25 VS.. 81 last
year.
Emerson Drug Co. declared divi-
! dends of so cents each on class A
and B common stocks, both pay
able December 10. Previous quar-
/ terly payments were Is cents.
Moore -McC Cormick Lines, Inc, de.
] clared an extra dividend of 81 and
6 a regular quarterly of Is cents, both
. PAYABLE December %.
Il Great Northern Railway net in
come for ten months ended October
81 was S14, sol ,709 or S4.69 a share
VS.. $23, 1886, ,855 or $7.55 in the same
1945 period.
Chicago, Milwaukee, st. Paul d
Pacific Railroad earned $793, ,735 in
ten months ended October 81 VS..
$12, ,772, ,450 a year ago.
Phillips Packing Co. profit for six
months ended September 80 was ST.
368,871 or s2.88 VS.. $511,397 or s1.04
in the same 1945 period.
Hercules Motors Co. reported
loss of s351,374 for three months
ended September 80, before tax
credits or reserves, VS.. profit of $148,-
112 in the same period last year.
Hupp Corp. deficit for nine months
ended September 30 was $l87, 7,46I,
, after tax credits, VS.. net income of
$978,o00 or 40 cents in the same
! 1945 period
Eastern Air Lines carried 973,069
pounds of airmail in October, a Jump
! Of almost 250,000 from the previous
month. Major factor was the cut in
] rates.
Bonwit Teller, Inc, has purchased
more than an acre at Michigan
lavenue and Pearson street, Chicago,
and will erect q six-story branch
store.
i Pullman-Standard Car Mfg. Co.
resumed operations at its Worces-
ter, Mass, plant for the first time
J since the start of the war.
United States Steel Corp. an
nounced the retirement of Charles
R. Miller, jr., as vice president-pur-
i chases and election of Rudolph T.
Elstad as president of Oliver Iron
Mining Co.