Evening star., 1947-10-10
Business Briefs

Money in Circulation rose to $28,-
632OOO,O0O on october 8, a gain OF
S73,OOO.OOO from week earlier ana
s24,OO0,OOO above year earlier
Federal Reserve Board.
Steel Production totaled 62,6l1 ,05l
net tons in the first nine months OF
l947, which was only 81 below the
total produced in the entire record
peacetime year of 1940.-Amerlcan
Iron g. Steel Institute. September
output dropped to 6,775,15S tons VS..
6.982 ,o86 in the previous month.
Rayon Shipments in September,
including yarn and staple, totaled
S0,5O0,000 pounds, a slight decline
from the previous month, but 1877
tons in the first nine months OF
Organon. Shipments in nine months
totaled 695,000,O00 pounds, an in
crease of III from year earlier.
Cleveland Electric Illuminating
Co. was authorized by the Ohio
Utilities Commission to go ahead
with it's plan to let 44-house syn
dicate headed by Dillon, Read &
Co. market S25 100000 worth of new
preferred stock. part of which is to
be offered present holders Of Gel
$3.50 preferred on share-for-share
basis. The order ignored a plea
from Otis & Co. for competitive
bidding.
Philadelphia Co. notified the SEC
II will fight to the United States
Supreme Court any commission rul-
ing that the company cannot keep
both gas and electric companies
under the Holding Company Act.
Hoving Corp. announced its sub
sidiary, Anson- Jones Co., tomorrow
will open in New York City the first
of projected Nation wide chain
of shops devoted exclusively to day
time dresses all priced at s29.95.
Missouri Pacific Railroad reorgan-
ization plan will be discussed before
the ICC at hearings beginning here
November 49, The Circuit Court of
Appearls at St. Paul ordered a re-
examination of the plan.
General Electric Co. orders in the
third quarter totaled $3.50 ,493 900,
largest for any quarter this year
and 27rs above the same 1946 per-
iod. Orders in nine months totaled
s912,0oO,000, a Jump of 39To from
a year earlier.
r. J. Reynolds Tobacco Co. de-
clared a quarterly interim dividend
of As cents on common and new
class B shares, payable November Is.
Minneapolis Moline Power Imple-
ment Co. declared dividend OF
1925 a share on account OF arrears
on the $3.50 convertible preference
stock, payable November Is.
Underwood Corp. earned $780,
1863 or s5.25 a share In nine months
ended September 80 VS.. S919375 or
s1.25 a year earlier. Profit for three
months ended the same date was
s1.687,934 VS.. S346,969.
Kansas City Southern Railway net
income for eight months ended Au-
gust 81 was s3,432,827 or 1888 VS.,
1929 .524 or 1925 in the same 1946
period.
Champion Paper G. Fibre Co.
earned 81 ,678,591 or s1.40 in is weeks
ended August II. after deducting
s65O,O0O for inventory reserves, VS..
s1.491 ,534 or s123 year earlier.
w. A. Sheaffer Pen Co. profit for
six months ended August 81 was
s995,416 or s123 VS.. s79S,964 or 81
in the same 1916 period
Walgreen Co. sales in September
totaled Sl2,645,263, a gain of 3,8eo
from a year earlier; in nine months,
e11,450,712, an increase of To.
Colonial Stores, Inc, sales in four
weeks ended September ~ totaled
s1l1.45o,712, an increase of 7ss.
year earlier; in 80 weeks ended the
same date, s117,678,745, a gain OF
s1.3%.