The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-10-31
Business
Finance

American States Public Service Com
pany reports consolidated net earnings
available for interest. reserves and divi-
Sept. 80. as compared with s724.s4l.Il for
the previous year. an increase OF II per
cent, Gross revenues this year were
comparison of earnings for the months
OF September shows $50. 029. 03 for Sep
TENDER this year against s70,ell.l0 last
cording 70 the consolidated financial con-
dition OF Sept. 30. we're sl5.4s9 '5s4-n-
consolidation of two OF the largest
chain store systems in the country, the
=. g. W. Grand 5-lO-Zo-cent stores,
was approved today by both boards Of
directors. This will create the largest
system of its kind in the country. hav-
ing total of $40 stores in operation
and doing a gross business of S3I ,000U0I
annually. Announcement of the merger
was made today in joint statement
r. & ". Grand stores, and Noble Gran
dali of George III. Purr %, BANK
ssy i 10 the e'n ,irst I eonsu@mated in ms
field in a number of years.
Steadily increasing volume and very
much lower operating expenses have
enabled Coutainer Corporation of Amer
lea to overcome in recent months the
critical competitive situation existing in
the box board industry and the latest of
fetal statements Of earnings indicate that
the situation. in so far as this company
is concerned, has taken a definite turn
Of Of this his year ssTei Of 1928, the cofporaton's
profit ratio has been returning rapidly to
normal and the outlook for the next
twelve months is considered bright.
The annual emigration Of thousands
of big california chrysantsemums to
the markets of the east has begun, IT
was reported today by the southern
Pacific railroad, which has contracted
TO more snd tn oe Ioe seasonsI flow
erS this IAN. The value of the huge
bouquet" to he carried by TINS one
railroad is estimated at S1,OOo WY. most
of the flowers are shipped annually from
san Mateo county, directly south OF
San Francisco.
Industrial Brownhoist Corporation has
offered to preferred and common stock
holders the right to subscribe at par to
a $500 900 issue Of per cent convertible
three-vear gold notes, dated Nov l. 1929,
and convertible at any time before matur-
ity into common stock of the company at
holders do not fully subscribe the issue.
the remainder of the notes will be offered
in exchange for Industrial Works per
cent notes. maturing on Nov. 1, 1929 and
now an obligation of Industrial Brown
hoist.
pany, Inc, is offering the sixty of
series of 81 ,OOO,DO0 Realty Foundation,
Inc. Investment Trust Guaranteed per
cent secured gold bonds. These bonds
will be primarily secured by deposit with
the Bank on the Manhattan Company of
81 ,BUO,OO0 diversified short term mort
cages on improved real estate located in
New York city and vicinity and S2OO,OO0
In cash. The latter item represents an
investment trust fund and may be in
vested by the company IN diversified,
marketable securities, in respect of
which bondhOlders will be entitled to
participate annually in income and
profit through detachable investment
trust dividend warrants, in addition to
the regular per cent interests.
A new form of A. B. A. travel cheque,
redesigned to embody the latest improve
ments in engraving science and reduced
to the size of the new United States cur
rency. has been adopted by the American
Bankers Association and Bankers Trust
Company of New York. its agent in issu
ing the cheques. it was announced today.
The changes were authorized at the meet
ing of the American Bankers Association
in San Francisco last month and the work
of producing the new cheques is now I'M
der way.