The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-10-16
Business
and
Finance

NEW YORK, OcC. lo.-An III
crease of almost 100000 gross tons
in world production of merchant
vessels over last year was announced
today in a statement issued by
Lloyds register of shipping covering
returns from all maritime countries
for three months ending Sept. 80.
American States Electric Com
pany, subsidiary of the American
States Public Service Company,
has purchased the stock of the
Dearborn Ripley Light & Power
Company, serving communities
with a population of 5000 in
Southeastern Indiana. Terms of
the purchase were not made pub
lie.
Announcement of the establish
ment soon of a Canadian branch,
Colin B. Kennedy, Ltd, at Toronto,
to distribute Kennedy electric
screen-grid radio receiving sets in
the Dominion, is announced today
by Colin B. Kennedy, president of
the Colin B. Kennedy Corporation
of South Bend, Ind.
board of the Muskegon Motor Specialties
Company. manufacturers of cam shafts,
stated today earnings Of the company for
amounted to $3.50, 900, according to figures
prepared by the company.
Burlap and Jute Exchange, the newest
of New York's fast-growing list of or
gained commodity futures markets,
opened for trading today with a turn
over in burlap and sugar bags repre-
senting a value Of several hundred thou
sand dollars.
DETROIT. Oct. 16.-Net sales. Of Evans
Auto Loading Company, Inc, during the
third quarter Of 1929 we're 90 per ser, cent
eTceeed tbos sne Of IKE second o.
according to E. S. Evans, president.
Plans for fifty per cent increase in
production of the Grigsby- GrunOw Com
pany, manufacturers of the Majestic
radio: by April !. were revealed by B.
J. Grigsby. president, with the announce
ment that thirty-four acres of land had
been purchased from the General Motors
Corporation and construction of addi-
tional factory space would start at once.
Capacity operation of all plant units
Of the Gold Seal Electric Company. manu-
electrical appliances. will be necessary for
the remainder Of 1929 and probably dur II,
Duff, president. announces.
DETROIT, Oct. 16.-Net earnings of
Sutherland Paper ComPatnty ait after hall all
amounted to $l55,599, L. W. Sutherland.
president, announced today.
The Universal Consolidated Oil Com
pany obtained 1900, 900 barrels of crude
oil and casinghead gasoline from 12t
report of James A. Talbot, president of
the company and ais. also chairman d;7 Of the
California.
T. M. Fletcher, president, g. R. s, Derry
pany's tubing plant in San Francisco had
been sold to the California Electric Sign
Company This company has been. making
neon tubing as licensee under the COM
pany'S patents.
NEW YORK, Oct 16-colonel Frank E.
Smith: president + OF Seryei: Inc a.
Chased the entire Swedish interests in
patent rights to the GleoC, o.li.
sions, Cuba and Canada.
Fear that the United States may place
a duty raw hides has been respOn-
sible for the weakness in the hide mar
ket according to M. R. Katzenberg,
president of the New York Hide Ex-
change.
With seventy leading distributors having
contracted for more than 100000 Mar
vim tubes during the third quarter of the
year Marvin Radio Tube Corporation is
headed steadily toward new volume re-
cords. Thomas F. James, president, de-
clareS.
Lincoln Laboratories, makers Of the
Lincoln electric radio. is operating
night shifts to increase production, Lee
Warner, Yice-president and general man
ager, announces.
New car registration figures for twenty