The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-08-29
Business
-Qnd-
Finance

Installment selling is rapidly
spreading throughout the major
world countries, and aided by
American finance companies is
destined to increase notably the
general level of purchasing power
and produce wide market for
American products, according to B.
Hwoschinsky, assistant vice-presi-
dent of the Central Hanover Bank
and Trust Company, writing in the
current issue of Forbes magazine.
Raw silk futures with an ap-
proximate value of S13,221, 900,
establishing a new all time high
record, have already been traded
on this month at the National
Raw Silk Exchange in New York,
according to Jerome Levine,
president. This is equivalent to
2O,34O bales. The previous record,
established in May of this year,
was 1885 bales with an approx
mate value of S11,462,75O
Lieutenant Ralph w. Smoke,
former chief test pilot of the Har-
tung Anyways of Detroit, was today
appointed sales representative of the
Spartan Aircraft Company, a sub
sidiary of the Sicily Oil Company,
for Michigan, Indiana, Ohio, and
western Pennsylvania.
Net earnings Of City Ice and Fuel Com
ana hit ITS Ssfore fedsra taxes and
depreciation were 81, 6S4,S86. This com
pares with July net last year of 81. $685.
pan pany SH sa E in July we we're $8,s5s5sO
compared with SS,17S,S12 in July year
ago.
fund Bon 4uss aea for the en- 5ned as sa itnko
Brazil s5 per cent externai sinking Ing fund
gold bonds bs Of d9s has
posted posted with it $36s, 500 for the retirement
Of that amount of the said bonds Oct l..
The PSnds VIII be redeemed at the G9sS
al accrued to oct 1923 VIII VII be payabie
to the respective bearers of coupons at
tached to such bonds.
A new high record for sales and net
income was attained BY I. Fischman &
ocordns to the report
the company made public today by
Maurice Fischman, president.
@. r. s. Devry Corporation has COM
pIeted arrangements for the opening of
a Canadian plant in Toronto for the
En Of neon tS1pT DIas
be carried on through the Q. R. S.
Canadian Corporation, Ltd, wholly
owned subsidiary.
Morton H. Fry. president of Reliance
Management Corporation, ANNOUNCED that
held yesterday afternoon, Matthew S.
Sloan, president of the New York Edison
Company, a director Of Consolidated Gas
Company of New York, and president of
the National Electric Light Association,
was elected director.
Increased sales and earnings of the
Pines Waterfront Co., are expected with
| the introduction soon of new detach-
able automatic radiator shutter. for
automobiles which do not come equipped
| with them. 1t is a marked improvement
over other models. Production will
start within g few weeks. The Pines
manufacturer of automatic radiator
! shutters.
In the current issue of Barron's Finan-
cial Weekly, the Trader again cites "the
tain nh1i'i important banking interests that the
|
s sRGtRs tendencA feS oP msTEet
momentum rather than on the imminence
Of unusually stimulating Developments.
signs OF an impairment of earning power,
speculation. may. continue, to rage until
is. however, Vulnerable to any concerted
wave of profit-taking, for the rise in
values in the past two weeks has been
so rapid and refusal, to liquidate so gen
eraI as to weaken the technical position
on the market"
directors Of the W. A. sheaffer Pen Co.,
per share and an extra dividend Of fifty
fn dydend Of sSo or
nual rate Of So per share. It was de-
elared on stock record; Aug, 2s, payable
81 per share and SOC extra was declared.
Decision of the United States Board of
mef rH1Pnr in Fesafd to the method
| of deduction from income of commits
sions paid in the negotiation of leases
Real Estate Boards as being a distinct
| gain for property owners and for real
! estate everywhere. Effect of the deci-
HON McNeiTI eU vs. oOS m $ e of o. internal
Revenue, Docket 1921 reported In 16
B. T. A. 479, is analysed in a statement
winch mas just Deen issued Oy tne
| association.
| Confirmation Of rumors regarding an
other important investing company to be
organized by Chicago interests was OBJ
tanned today when it was learned that
application was being made for listing on
| the Chicago Stock Exchange.
The new company will be sponsored by
Lawrence Stern and Company, and A. G..
Becker & Company.
Business Of Butler Brothers is shaping
for an excellent fall and holiday, trade,
today. While the. first six months Of 1929
run 4 per cent ahead of the same period
| In 1928, the last six months of the cur
rent year will show a greater business
volume and earnings capacity for the
MI. Cunningham. The general level of
prices, he added. is the same as a year
ago.
Commercial Investment Trust Corpora
ton through its subsidiary Commercial
Investment Trust incorporated has
Landers. Frary & Clark, New Britain,
| Connecticut, manufacturers Of Univer-
! sal Electric Washers for the financing Of
the instaIlment sales Of authorized deal
| ers handling the products of their wash
ing machine division.
HOLD z FOR ARSON
B. & O.. Section Hut Fire