Evening star., 1946-01-25
Business Briefs

Bank CIearings In "a leading cities
declined to $12,527, ,l78, 900 in the
week ended January % VS.. s12,757,-
$1,000 in the previous week, but
were l2.7% above $11,1l8 ,s36, 900 in
the like l945 week, reported Dun &
Bradstreet, Inc.
Retail Trade remained AZ to 81
above a year ago, although heavy
buying Subsided in the last week
declared the agency. Sales were
about even with the previous week
Motor Vehicle Production this
week will total 29,4l0 units, com.
pared with "a, 8,465 last week, accord
ing to Wards Automotive Reports.
Money In Circulation totaled $27,-
s7 100000 on January %, decrease
OF $l42 ,000, 900 from a week earlier
but $2,802 600, 900 above a year ago
the Federal Reserve Board an.
nounced.
Philip Morris g. Co. fixed an in.
terest rate Of 212% for its forthcom-
ing $15, 900 900 issue of 20-year de.
benturesfa record low for a corpo.
rate security of similar maturity.
Great Northern Railway plans ts
market $65 900 900 of new first mort.
gage bonds to finance retirement OF
a like amount of 33s% and 31z %
bonds.
Secondary Distribution of 10000
common shares of Consolidated Gas
Electric Light & Power Co. of Balti-
more at 891z less d sl.50 concession
to dealers was approved by the New
York Curb Exchange.
Carpenter Paper Co. registered
with the SEC 5000 shares of ~
convertible preferred and 25,9OC
common shares, of which 10000 pre-
ferred will be exchanged for present
preferred and 5000 common shares
will be offered to officers and en-
ployes.
Mead Corp. registered with the
SEC 1000 shares of $3.50 cumulative
preferred with warrants for pur-
chase of common stock and 14,O0O
common shares. The shares will be
offered in exchange for securities OF
Columbian Paper Co., Buena Vista,
Va.
Northeast Airlines stockholders
will vote March on proposed mer-
ger with Pennsylvania Central Air
lines. p.
Commonwealth & Southern Corp.
notifications in its recapitalization
plan were termed highly compli-
Gated and confusing" by the SEC
and further action on the plan was
delayed for 80 days.
Pennsylvania Railroad earned
$87, ,180, $50 in 194S VS.. $108, ,972, ,066 in
the previous year. Revenues totaled
$685. 453, All VS.. $l,010,015,912.
New York, Chicago g. st. Louis
Railroad net for 1945 was $8,083 ,229
or $22.42 a preferred share VS.. ST.
225 1924 or $2004 in the previous year
Hooker Electro Chemical Co.
earned $1,078,286 or $3.50 common
share in IL months ended November
80 VS.. sl,264 1858 or $3.18 In the pre-
ceding fiscal period.
United States Pipe & Foundry Co.
profit for 1945 was 81 ,4l0,1 ,102 or $2.03
VS.. 81 ,552, 500 or $2.23 in 1914.
Keystone Steel & Wire Co. earned
$822,468 or $l.09 in 6 months ended
December 81 VS.. s787, ,454 or $l.04 q
year ago.
Massachusetts, Investors Trust re-
ported net asset value of $29.34 a
share on December 81 VS.. $23.39 at
the end of 1914.
Durham Hosiery Mills declared a
dividend of so cents q common
share, payable February Is. Previ-
Gus payment was Is cents in Febru-
ary. 1945.
Aluminium Co. Of America will in
crease foil manufacturing facilities
at Alcoa, Tenn; New Kensington,
Pa, and Edeewater, N. j., and will
more than double present capacity
by the end of this year.
Masonite Corp. elected Eugene
Holland president and director. He
is president of Holland Lumber Co.,
Omaha.