Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-20
LINOTYPE COMPANY
DECLARES DIVIDEND
payment of ST a Share for
Year Equivalent to $14
! on Old Stock.

Sype Co.. meeting in New York City. de-
Hlared a quarterly dividend of SIPS per
Share and an extra dividend Of SO cents
Der share payable September SO. 70
stockholders of record September D..
This makes 81 per snare IN olvl-
dends payable for the fiscal year OF the
COMPANY ending September 80, 1929. or
an equivalent on the old stock OF $l4
ner share. It will be recalled that the
800 par stock was converted into no
mar stock, giving old stockholders two
shares of the no par for one share OF the
500 par.
The company reports earnings ahead
of last year. Foreign business OF the
ing The Mergenthaler Linotype Co,
of New York owns SO per cent OF the
stock of the English company, and 65
per cent of the stock of the German
company.
OF the $4,000 shares of no par stock
in the New York company outstanding,
fully one-third is held in washington
by investors. who consider 1t an invest
rnent stock" The Washington directors
of the company are Frederic D. NC
Kenney, and Edward j. McQuade.
Mergenthaler is generally active on
the Washington Stock Exchange.
Macn1ne-IOOI inquiry.
Inquiries for machine tools are hold
ing UP well, but from the standpoint OF
orders closed the market has expert
enced a moderate slump in the past
week, explained largely by the vacation
period, American Magazine reports.
Machine tool builders in many instances
are still behind in deliveries, but some
Improvement in this direction Is ex-
pected from now on.
:, CONFIDENT with the public offering
today by Goldman. Sachs & Co. Of
convertible preference and common
stock of Blue Ridge Corporation, a new
Investment company, Blue Ridge Cor
poration is offering to exchange shares
of its convertible preference and COM
mon stock for common stock OF 81 OF
the leading industrial, railroad and
hubble utility corporations listed on the
New York Stock Exchange. Blue Ridge
Corporation, which will have the same
sponsorship and management as Shen-
andoah Corporation, will start opera
lions with assets aggregating more than
27,500,000.
The offer by Blue Ridge Corporation
is designed not to secure control of
any corporation, but to enable the COM
pany to build up substantial holdings
in these corporations. This is made
clear in the statement of Clifford F.
Stone, president of Blue Ridge Cor
poration, that the plan of exchange Is
arranged as means of acquiring blocks
Of such stocks fer the company's in
Vestment account.
I'm addition to purchasing stocks for
cash" Mr.. Stone stated, "it will be the
purpose of the company In connection
With acquiring stocks of other corpora
ions to exchange, from time to time,
is own stock for the stock of corpora
ions in the various fields of business
oetivity in which the company regards
: as advantageous to acquire an in
terest"
The announcement by Blue Ridge
Corporation states that it is prepared
> receive from financial institutions
md security dealers, acting in their
WI behalf or for account of clients,
snders of blocks of common stocks in
ne following corporations: Allied
Chemical & Dye Corporation, Ameri-
an Telephone & Telegraph Co., Atchi-
IN, Topeka & Santa Fe Railway Co. !;
ethlehem Steel Corporation, Console
ated Gas Co. of New York, the De-
'oit Edison Co.. Eastman Kodak Co. of
-ew Jersey, General Electric Co, In
irrational Harvester Co., International
telephone & Telegraph Corporation,
lie New York Central Railroad Co.,
aciflc Gas & Electric Co., Pacific
lighting Corporation. the Pennsylvania
abroad Co., Southern California Edi-
IN Co., Standard Oil Co. New Jersey,
lie Texas Corporation, Union Carbide
{; Carbon Corporation, Union Pacific
abroad Co. United States Steel Cor
oration,, Westinghouse Electric &
Manufacturing Co.
The public offering Of securities of
~lue Ridge Corporation, which Is being
lade by Goldman, Sachs & Co., will
OnSiSt of 100000 shares of optional
& per cent convertible preference stock
$50 par value, priced at $3.50 per
lare and accrued dividend, and 1,000,-
DO shares of no par value common
ock priced at $40 per share. Holders
preference stock will be entitled to
cumulative dividends at the quarterly
ate of 1-32 of share Of common stock
=. at their option, rs cents a share
he preference stock will be con-
ertlble at any time into one and half
1areS of common.
Trading on ID. C. Exchange.
Trading was heavy on the Washing
IN Stock Exchange today, both bonds
nd stocks being active.
Utilities were in demand and two
ank stocks, Riggs, at 578, and Wash
lgton Loan g. Trust Co. at 535 fig
red in the turnover. Mergenthaler.
hich today declared the regular and
n extra dividend, sold in several lots.
inning from 10412 to 1045s.
Washington Gas IS A led the bond
"anSactlons with total of $500, in
.ange from 1011s to 1921.
South American Financing.
One of the largest items of South
.'merican financing this year will be
arried out shortly when a banking
roup composed of the Grace National
o., Brown Brothers & Co., E. H. Roll
MS & Sons and the Continental I'LL
'ois Co, offer publicly a new issue of
100000 Chilean consolidated nauni-
lpal loan 31-year Z per cent sinking
und gold bonds. The bonds are di-
ect obligations of IS municipalities In
ne Republic of Chile having a COM
lned population of approximately l.
07,420 or over As per cent of the
otal population of Chile.
Upon completion of this financing
ne aggregate funded debt of the 65
municipalities will amount to $24,561,
At, including this issue, SIS Of the mu-
licipalities having no other funded debt
rhe provisions Of the 1929 budget of the
municipalities for the payment of theil
espect1ve floating debts will reduce the
otal of such debts outstanding at the
beginning Of the year to $233,252. Fol
he three years ended December 81
1928, the combined income of these 6:
municipalities exceeded expenditures by
Jl,352,218.
Another new branch bank in thu
~apidly growing system of the Chas,
National Bank was opened today at No
10 East Forty-eighth street, in thu
heart of the uptown jewelry district
The new unit gives Chase Nationa
bank % offices in Manhattan ant