The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-10-01
Business
and
Finance

The ffftv most active stocks traded in on
the Chicago Stock Exchange during the
SO. 790. 926, 785 at the close Of business Sat
urday, as compared with S3,947 084, 428 at
the close Of the previous week, ACCORDING
of the New York and Chicago. Stock Ex-
changes. This represents a decrease OF
s156.l57643 or 4l2 per cent.
Business Of the Chain Store Products
Corporation is running 40 per cent ahead
tinuance of high rate of operations,
according to a letter accompanying
checks to stockholders fol. the, corpora
preferred stock. The initial dividend of
31ia cents IS payable Oct. I, and estab-
fishes the Issue on an annual dividend
basis of $3.50 a share.
Sparta Foundry Company reports net
earnings for the first eight months ended
Aug 81, after all charges including federal
taxes and certain homecoming expenses.
Of 1920. 693. equal to S6.42 per share on the
$4,000 shares Of common stock outstanding
equivalent to S9.62 per share on an an
nual basis. as compared with s3.17 per
the last three years were: 1926. s74.893,
or S1.50 per common share; 1927 SLOT 1856
or S2l5 per common share, and 1928,
sl58.4l8 or $3.17 per common share.
NEW YORK. Oct. Total sales by the
Arc Supply Manufacturing Company. Inc,
81, ooo, 900, based on the current Volume Of
business, according to an announcement
made today.
Since Jan. 1, 1929, the Gardner Denver
Company has retired 2,786 shares of
preferred stock with a valuation of
quirements since April 1, 1927, when the
program was instituted. to 1925 shares,
with a value of S524,991. The last bal
ance sheet of the company dated Aug.
81, 1929, showed preferred stock out
standing to the amount of 81 ,075 shares.
The shares have par value of 500.
Standard Investing Corpora ton for the
six months ended Aug. 81. 1929, reported
net income Of 1914 CAT after expenses. in
income of $919,45 included net profit
Of $551547 from the sale of securities.
$3.50; 500 in dividends received, and S128. 204
in interest received and accrued. Ex-
penses and other income charges totaled
S274 500; Profit, and loss surplus as of
S513,095 for the six months.
Twelve mining companies in Idaho
paid DIVIDENDS totaling &,$599,000 in
many individual operators not yet in
the profit taking stage spent $10241,738
for labor; supplies and equipment, ac-
secretary of the Idaho Mining Associa-
ton The figures were compiled to
prove, to legislators that. high taxes de-
would actually result in shutting off de-
velopment by the hundreds of concerns
whose properties stil1 in the pros
pective class.
DETROIT: Oct. Met factory sales of
fne Se abt Aut0matc C966Bporation for the
crease over the same period in 1928 of
more than 100 per cent, according to
statement issued today by Walter F. Tant.
president.
ANNOUNCEMENT is made today by
cinnat Railroad Terminal Development
Company, that Hornblower & Weeks of
C cIE and New York; and A. E.
Chased S. cnmnntiTe have ee1t
preferred stock of the Cincinnati Union
Terminal Company, which viii shortly
Pc Ge o titat to the public. This yin be
this company and marks the second
step in the financing of the new S40,-
10000 passenger union station in Gin
cinnati.
Aviation. will soon have a financial
Of Keane's Manual of Investment trusts trusts
is now compiling financial statistics on
several hundred aviation companies which
Keane's Financial Aviation Manual The
Financial Publishing COMPANY Boston,
New York and Chicago.
NEW YORK, Oct. 1.-Rayon produc-
ton in the United States for the year
1929 will reach total of 131, 1926, 900
pounds, Textile World reports. Total
output for the first seven months of the
year is placed at ", $50. 900 pounds. The
estimated tota! for 1929 will exceed last
years production volume by more than
$4,000, 600 pounds.
DETROIT, Oct. Directors Of the
Detroit Aircraft Corporation have author
ICED expansion of facilities on the Crosse
lie airport that will make it one of the
most complete in the world, It was an
nounced today by E. S. Evans, president.
Evans stated that under the plan, the
corporation will build seapIane hangers,
service stations, deepen the channel and
add dock facilities. unique system of
landing lights is practically installed This
complete for flying boats and amphibians
as well as for land planes.