The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-08-21
Business
and
Finance

Directors of the Real Silk Ho-
siery Mills. Inc. Tuesday restored
the common stock to a dividend
basis. They declared a regular
quarterly distribution of S1.25 pay
able Oct. to stockholders of rec
ord Sept. Is.
This places the common stock
on a SIS per annum basis. Common
dividends were discontinued IN
1927, the stock was then on a "a
basis. The regular quarterly divi-
dend of S1.75 was declared on the
preferred stock.
According to Porter NJ. Farrell,
president, over 1000 men have
been added recently to the sales
organization of the company,
making it necessary to run the
plants on a. day and night sched-
uIe. By Oct. ] the new plant at
indianapolis viii be completed and
operating on a day and night
schedule.
Motometer Gauge and Equipment
CORPORATION has perfected a new
TYNE of shock absorber, radically.
different from anything now on the
market, Royce G. Martin, president,
announces. The company is start
ing production on the new line, with
output of 10000 sets daily planned.
The new device utilities oil under
pressure and retardS the upward
bound as we'll as the downward
movement eliminating all shock
and operating independently of one
another. There are only seven
ma ior parts, no adjustments being
necessary because the shock alb
sorber is not affected by atmospheric
changes.
Raw silk futures valued at more
than S5.5O0,O00 were traded in on
the National Raw Silk Exchange
during the week ended, August II,
establishing a new high record for
both volume and value. Sales for
the week were $3.50 bales, an in
crease of 1,540 bales over the pre-
vious high record, established the
last week of May.
A new high record for all time
for single days trading was es-
tabIished Saturday, Aug. II, when
2,915 bales were traded in. This
was up 1876 bales from the pre-
vious high record, established on
on the preceding day. Saturdays
record was remarkable in that
this heavy volume was done in
short session, one and One-haIf
hours, against the usual full seS-
sion of AZ hours.
Aircraft r5 Iockheed plane has completed
the first scheduled trip north inaugural
ing air mail and passenger route from
and thirty minutes. with stops at Torreon
and chihuahua at an average speed OF
$50 miles per hour thus est LAD snaagg
record for commercial lines on this CONT
nent.
More than 5000. 900 cubic feet of nat
ural gas has been made available dally
for heat and power use at the Fairfax
Airport in Kansas City, 1t was an
nounced yesterday by. Mark w; Woods;
president of Woods Brothers Corp. The
gas is supplied by nine wells on the
airport property and Is now being used
to generate power in the score of air
plane factories and flying schools at the
terminal. This Is the only airport in
the world which has such an immediate
source of power.
Profits of the Lion Oil Refining Com
pany, OF FL Dorado, Ark, for the hrSt
seven months Of 1929 were eleven times mes
T presden Ao'0 earnings 50 we're af5si
depreciation and depletion but before
of 1923, they were. only ,s6S,779, after de;
probation and depletion but before federal
taxes. In July the earnings we're $2l0' 1853
fore. federal taxes, with no comparison
available,
The Temple Corporation has Just
of huge new plant In the clearing in
dustrial district here that will provide
sufficient space to permit the manufac-
ture of 250, 900 radio receivers per year.
Increase in warehousing facilities Of the
Walthal Radio Corporation, subsidiary
of Wextark Radio Stores, Inc, is to be
the latter organization. announced today
The Walthal stores operate in the greater
New York area Over The last TseK5jenYd3
sold $4,000 worth Of rad dk}o MERCHANDISE
because June. July and August are the
dull months in the, trade, the low period
forces are being increased to meet the
demands for the Wextark subsidiary's
products.
one-fourth of all ofhcial world records
are held by the Studebaker President
and world records combined than any
other stock automobile. according to a
tabulation by the Revue Internationale
de TAutomobile, official organ of the In
ternational Automobile Association of
Recognized Automobile Clubs of Paris.
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