The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-09-20
Business
Finance

Sales of the Ontario Manufacture
ing Company. of Muncie, Ind,
makers of silver and fiat ware,
totaled 1881 SOB during the first
eight months of 1929. j. Mckenzie
Morrison, vice president, announced
today. This was an increase of
1897 ,299 or more than 80 per cent
over sales during the corresponding
months last year.
Studebaker has announced the
complete reorganization of its
parts department at South Bend,
Ind, under Z. c. Member. About
10000 parts are carried for pas
senger and commercial cars and
buses of all models now being
operated. approximately $50 per-
sons are employed in this depart
ment to insure a steady flow of
parts and speedy shipping.
More than 300 workers have been
added to the force of the Time-O-
Stat Controls Company at its plant
in Elkhart, Ind, within the last
few weeks. Increased sales demands
forecast a still greater amount of
production for the next month. This
was announced today by Julius K.
Luthe, president.
The Moth Aircraft Corporation an
nounces that during the month OF August,
al
duction of one plane per day and sales
for the past month amounted to well over
100000. Work on doubling the capacity
of the companys plant has been COM
pleted and a steady increase in monthly
sales is anticipated.
DETROIT. Sept. 2O.-Net earnings of
Silent Automatic Corporation for the
first eight months cot 1923, after all
charges, including estimated federal
taxes, were three times the earnings of
the company during the same period of
1928, according to a statement made
today by Walter F. Tant, president.
Commercial Investment Trust Corpora
ton announced today the signing OF
contract with the Hudson Motor Car
Company for financing the sales of Hud-
son and Essex automobiles and Dover
commercial cars on a worldwide basis.
! The Hudson company is one of the fore
most American exporters of motor cars.
C. H. CarIough, president of the
Southern Asbestos Company has adj
dressed a letter to all stockholders Civ
ing the terms and other details in con-
nectiOn with the proposed merger of
Thermoid Company. The consolidation
is to be effected by an exchange of
stock, in the ratio Of 1-S shares of
ThermOid : per cent cumulative con-
vertible preferred for every 10 shares of
Southern Asbestos common.
August. the fourth month of volume pro-
$50 334 after taxes, according to an
nouncement today by Alfred Marchev,
president.
August earnings of Gardner-Denver
Company amounted to II cents share,
estimated By oficiais a few WEE weeks ago.
This was announced today by Ralph G..
Gardner, vice-president.
Sales for August were the largest of
any month in the history of our COM
pany, and we are looking forward to
satisfactory volume of business for the
TeetOr, vice president in charge of sales
of the Perfect Circle Company.
s. w. straus Investing Corporation re-
ports net income of $176, 326.73 available
for common stock for the three months
ending August 81. The net realized
Aug 81 were re 2.47 times the preferred STOCK
| dividend for the period.
August sales of the DISTINGUISHING
Company were 38 per cent larger than for
the corresponding month Of 1928, accord
ing to Lewis G. Blessing, vice-president
of the company.
DETROIT, Sept. 2O.-Erection Of a
new $500 900 home for the Detroit Stock
Exchange. has been approved at a. spe-
will be located in the heart of<1e finan-
cial district and will be ready for Occu-
pancy early next spring
United States Radio and Television
Corporation has received an order for 40
carloads of radios from the Simmons
Hardware Company of st. Louis, accord
ing. 20 Don M. Compton, vice-president
ana general manager. This is equivalent
to 5000 sets.
Directors of Temple Corporation
Wednesday, declared the regular quar-
terly dividend of As cents a share on the
convertible preference stock, payable
Oct. Is to Stockholders Of record rec Sept. 80:
preference stock now outstanding, this
dividend also will be paid on $1,000
shares of new convertible preference
stock, which will be issued Monday,
Sept. %.
According to statement just released
an Investment trust managed by Balti-
more bankers, during the eight months
ended Aug. 81: 1929, realized income from
on securities owned amounted to S285. 208
which was equivalent to an annual return
of about II per cent on the average
capital invested during the period.
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