Evening star., 1948-01-02
Business Briefs

commercial, MuuStTidi anu T al LII
Loans of member banks in 10l lead
ing cities totaled $14,719 900 900 on
DECEMBER "a, a gain of $100, 600 ,000
from a week earlier and s3,292 ,0oo,-
900 above a year earlier.-Federal
Reserve Board.
January Retail Sales should
amount to $4,000, 600, 900, gain OF
$550OO0,O00 from year earlier
Sales MANAGEMENT December's es-
innate of S12,500, ,00O, 900 was swoller
by Christmas purchases.
Manufacturers Inventories or
November 80 approximated S23, ,700,'
100000, a gain of around $3.50 ,000,-
900 from a month earlier.-Com-
merce Department. The latest gair
was almost entirely in nondurable
goods.
Outstanding Consumer Credit or
November 80 totaled S12,600, 900 900
a gain of $165, ,000,0 900 from month
earlier - Commerce Department
The SO gain was smaller than ex.
pected after the ending of wartime
controls on installment buying No.
vember l..
A Vast Reservoir of private in
vestment capital 'can be tapped for
industrial development and expan-
sion of European countries and else
where If conditions are created
which will encourage the investment
of such capital. National Foreign
Trade Council.
Electrical Manufacturers Output
In 1947 was 500 above the preced-
ing year and should expand another
So to 10eo this year-Electrical
Manufacturers Association.
Stock Exchange Volume in Be-
cember totaled 27,605,227 shares VS.
29,833,582 a year earlier and for
the year reached 233,623,894 shares
VS.. 363,709.312 in 1916. Bond sales
in December totaled S141 ,872 500
par value VS.. $127,552,750;. in the
year, SLOTS, SAL ,420 VS.. s1.364,174,150
American Power e. Light Co. re-
ceived SEC permission to extend
the period for severing relations
with Texas Utilities Co. another six
mOnJhS TO June 81, tSfo.
Pullman STANDARD Car Mfg. Co.
production of freight cars in 1947
was double the total for 1916, and
President Champ Garry said an ad-
ditional substantial gain will be
recorded in 1948 if necessary mate
rials are available.
American Locomotive Co. presi-
dent, Robert B. McColl predicted
a record amount of railroad equip
ment will be produced in 1948 If
manufacturers are permitted to
operate in a favorable economic
climate.
Parke, Davis e. Co. declared a
quarterly dividend of IS cents a
common share. payable January 81
Previous payments were 40 cents.
Pacific Telephone G. Telegraph
Co. earned s3,955,87l or 9S cents in
three months ended November 80
VS.. $4,757.627 or $1.43 year earlier.
Net for IL months ended the same
date was $12,3a9,567 VS.. $l9,504, ,444
in the previous year.
Consolidated Gas, Electric Light
& Power Co. of Baltimore reported
net income of s6,598 $40 or s4.65 a
share In IL months ended November
80 VS.. s7,174,906 or s5.14 in the
same 1916 period.
Missouri Pacific Railroad earned
$6579, ,969 in II months ended No
vember 80 VS.. $3,808,891 year
earlier.
Gulf Coast Lines reported net in
come of S3,327 .551 in II months end
ed November 80 VS.. $3,268, ,09S in the
same 1916 period.
H. J. Heinz Co. earned 2,957 ,048 or
S197 in six months ended October
81 VS.. $3,047, ,5s2 or s2.o3 year
earlier .. --z...,- -
United States Industrial .Chemi-
Gals, Inc, elected william p. MarshS
r., executive vice president.