Evening star., 1946-11-27
Business Briefs
Chicago butter prices broke

Chicago Dutter prices prOAc %
much as 4 cents pound at the
wholesale level today, reaching the
lowest since November 4. Top grade
90 score AA hit 79 compared with
the previous quotation of 82.5 and
the more popular 90 score A reached
78 cents compared with 81 previ-
ously.
A banking syndicate headed by
Morgan Stanley & Co. today offers
a million shares Of General Mo-
tors $3.75 preferred stock, described
as largest preferred stock sale for
new money purposes in history;
price. 500. GINS plant expansion
program now under way may total
$500, 600 900. GIN now has outstand-
ing 1885 ,644 shares of a So series
preferred, 44,104,34 shares of COM
mon and $125, 100000 of 2.5 per
cent promissory notes. New York
reported quick selling of the new
stock and shortly before II am. 1t
was quoted at 1901 bid and 100h
asked in unofficial trading.
Business loans rose $127 ,0O0,-
600 in week ended November 20,
member banks of Federal Reserve
reported. This took total of COM
mercial, industrial and agricultural
loans to $10,156, 100000, a rise OF
s3,4O5 .O00,O00 in IL months. Loans
of all types dropped to s16,475,-
100000, which is $3,205, ,O0o,0Oo ABOVE
level year ago.
Transcontinental & Western Air
reported net loss for third quarter
of s3,235. .491 after tax credits of ST.
eS1 1858. President Jack Frye blamed
temporary grounding of Constella-
tions on July II by CAB order.
Average hourly earnings OF all
railroad wage earners in June were
1e8 per cent over March. June
s1.174 average set new high with
passenger engineers topping the list
at s2.627. June average weekly re-
turn was $500.
Electric power production in week
ended November % set new high Tor
fourth straight week., ,764 BIT 900
kilowatt hours. This was before coal
crisis.
Manufacturers inventories, con-
tinuing 10-month trend. rose $780,
100000 in october to reach new
peak of $19,500, ,000, 900.
SEC announced general revision
of form and content requirements OF
financial statements filed by man
aeement investment companies. The
revision does not apply to companies
that issue periodic payment plan
certificates.
Dividend Notes: Commercial Sol
vents Corp, SOC, payable December
20. Mathieson Alkali Works, Inc,
CSC and Csc year-end extra; Allied
Stores, Inc, SOC; Anaconda Wire d
Gable. $225; payable December 49,:
Timken-Detroit Axle, So; Parafiine
Companies, Inc, 75c; Fanny Farmer
candy. SOC extra and 371zc regular;
Lima Locomotive, 81 year end and
SOC quarterly; Butler Bros, SOC year
end. -.
Bates Manufacturing (textile), SOC
extra and upped quarterly from
37h to soc; Simmons Co., $l.25.
south penn OIL, $110 extra and Csc
quarterly; Borden Co., 75c year end:
American Smelling, 81; Rubberoid
Co. 81; Holland Furnace, 25c and
Soc extra; Newport News Shipbuild-
ing SO year end (50c year ago..
The Commerce Department re-
aorted today that publicly reported
cash divided payments by corpora
tions totaled $451, 100000 in Septem-
Der. IA per cent above those in the
same month last year. In the third
Quarter, dividend disbursements
were ST ,007. .400, 900 or 14.5 per cent
above the same quarter OF 1945.
Corporations engaged in trade reg
istered the greatest increase, 48 per
gent.