The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-12-20
Business
and
Finance

wholesale electrical supply houses
doing an annual business of $780,
600, 900 and with branches in so
cities, have been organized by the
Westinghouse Electric and Manu-
featuring Company into a single
system under the name OF the
Westinghouse Electric Supply Com
pany, it was announced Thursday.
BIZ United Press
WASHINGTON, Dec. 20.-Loans
on stocks and bonds to brokers and
dealers by reporting federal reserve
member banks in New York on Dec.
10 decreased $39000,000 from the
previous weeks total of 1925 ,000,-
600, the federal reserve board an
nounced Thursday,
Hudson Motors: Considering the. fact
that Hudson earned net OF S8.42 per
share for the first three-quarters OF this
year, or almost 10 per cent more than the
full years dividend requirements, and
that the companys cash holdings equal
almost $50 per share, there seems TO pc
no reason to question the safety OF the
IS dividend.
The board Of directors OF the Inter
state Public Service Company has de-
clared the regular quarterly dividend Of
Ia per cent on the outstanding per
cent Prior Lien Stock of the company,
payable Jan. Is, 1880 to stockholders of
record Dec. 81.
The lareest ELECTRIC power BIO, bond tss sue
j. haiu1 Cffn~Nr bT Hg~1wnrS Tor the Union
Electric Light and Power Company. An
additional issue OF 515o0o.0ol general
this Company due IN 1867, is being mar
keted by Dillon, Read & Co.. Harris;
FORBES g. Co, Spencer TTask e Co, and
100 and interest. The proceeds of this
financing will be used to reimburse The
lions and extensions to its properties.
The board of directors Of the McCord
Manufacturing Company, declared the
regular quarterly dividend of SITS per
ferred "a" stock, and the regular quar-
terly dividend of so cents, per share, upon
the Debenture stock also also al OF sr1 th e
number of shares of Preferred stock, out
standing payable Jan. z, to StocKholoerS
of record, Dec. "a.
According to the weelSly estimate Of
the National Coal Association, about
IL 900, 900 net tons OF bituminOus coal
were mined in the United States dur
ing the week ended Dec. il. This is the
largest quantity of bituminous coal pro-
duced in any week since last February.
The quantity mined during the weeks
ended Nov. 80 and Dec, :, as reported
by the United States Bureau OF Mines,
was 1881, 900 net tons and 11,679,000
rnI {ons
Consolidated balance sheet of the Gard
o as 81 q 46 N SSs 49,
current liabilities of 1854. 545, a relative
position CT approximately IL to l.
Industrial Rayon Corporation earned
for the first ten months of this year $3.50
per share, and present indications are
share on the 100, 431 shares of stock now
outstanding. AS of June so this year,
the company had very strong treasury
total current liabilities.
Sales and shipments of the, Pines
Winterfront Co., of Chicago for the first
fifteen days Of this month exceeded the
total for Dec. 1928, J. F. Raleigh, presi-
dent, said
Directors of NJ. H. Fishman Inc. have
declared the; regular quarterly dividend
payable Jan. is to stockholders of record
Jan. 3.
CrucibIe Steel earned a net Of S6.05
per share for the first half of 1929, and
it is expected that the net for the last
half will exceed first half results. The
company recently declared stock divi-
dent Of 3 per cent in addition to the
regular cash dividend of So which has
been in effect since 1926, supplemented
by occasional extras.
United States Pipe and Foundry's earn
ingS for the past six months totaled $3.50
per share and final net for 1929 is eX-
pected to be well in excess of So per
share.
Directors Of the Federal Screw Works
declared the regular quarterly dividend of
rs cents a share on the capital stock
payable Jan. / to stockholders of record
Dec. 20
wextark Radio Stores, Inc, will open
new store in Davenport, Ia. Saturday
to serve the Tri-City territory, Simon
Wexler, president, said today.