Evening star., 1949-12-23
Business Briefs
Money in Circulation expand

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to S27 1888 900. 900 on December 81,
gain Of $132, ,000, 900 from a week
earlier, but remained $727, 900 900
below year earlier.-Federal Re-
serve Board.
Department Store Sales across
the Nation averaged 10 above a
year earlier in the week ended De-
cember II, the Reserve Board re-
ported. This was the first year.
to-year gain in months. For the
year to date, sales were so behind
year earlier.
Businessmen Are Optimistic
about 1850 prospects, according to
survey Of $4,000 top executives
by Fortune magazine. Good or
better profits are expected, the
magazine found.
Iron and Steel Payrolls in nine
months of 1949 totaled $l,670,-
100000. a gain of 5000, 900 from
a year earlier and q new record
for the period-American Iron &
Steel Institute. ..-,
New York Stock Exchange Mem
bership changed hands for $48,-
900, a rise Of $4,000 from a trans
action for $4,000 yesterday.
Chicago, Rock Island & Pacific
Railroad stockholders approved a
plan to refinance the roads en-
tire funded debt by issuing $55,-
000.00o Of new first mortgage
bonds In January.
Southern Pacific Railroad asked
1CC permission to issue $13,530,-
600 Of equipment trust certificates.
Pennsylvania Railroad asked
ICC authority to sell $10.e20, 900
OF equipment trust certificates.
United Gas Corp. registered
with the SEC $25. 100000 of first
mortgage and collateral trust
bonds to be offered at competi-
tive bidding.
Texas Gas Transmission Corr.
announced virtual completion Of
its s00-mile natural gas pipeline,
from Carthage, Tex, to Middle
town. Ohio, in less than eight
months. Deliveries to Louisville
Gas & Electric will begin within
a week. Z
Admiral Corp. has bought the
64 .000-square-foot General Mills
plant in Bloomington, Ill.,. for an
undisclosed price, effective De-
cember is.
United Airlines has ordered six
new Douglas DC-eB transport
planes from Douglas Aircraft Co.
They will cost 100000 each.
Norfolk & Western Railway net
income for II months ended No
vember 80 was $16,58s, ,024 or $2.81
q share VS.. $32 2,825.747 or $3.50
In the same 1948 period.
Erie Railroad earned $3,709, ,028
or 76 cents in II months ended
November 80 VS.. $13,083,779 or
$4.57 year earlier.
Consumers Power Co. net for
IL months ended November 30
was $14,923 1856 or $2.54 VS.. $14,-
LAG. 6.S07 or $2.72 in the preceding
fiscal period.
Eastern Gas g. Fuel Associates
earned $4,845, ,S73 in IL months
ended November 80 VS.. 50, sos 1871
in the previous year.
Sheraton Corp. of America had
Ia profit Of $976,160 or 81 cents
In six months ended October 81
VS.. $1,255, ,6es or 7s cents In the
same 194S period.
Celotex Corp. estimated net in
come for the year ended October
81 was $1,950,00o or $1.S6 VS.. &c.
7s5, ,189 or $7.20 In the preceding
fiscal period.
National Linen Service Corp.
earned $3e6,o74 or 20 cents in
three months ended November 80
VS.. $465,7s5 or % cents a year
earlier.
Consolidated Textile Co. net for
three months ended December 8
was $500, 900 or 56 cents VS.. $751;
900 or Is cents in the same 1948
period.
American Gas d Electric Co. an
nounced the resignation Of George
N. Tidd as board chairman, effec-
tive December 81. His position
win be left vacant. President
Philip Sporn is chief executive
officer.