The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-08-10
Business
and
Finance


are understood to have arrived on
the Pacific coast to go over the
property of the Columbia Steel
Corporation, which is expected to
be consolidated with the formtr
company.
Conferences are believed to have
taken place between the two, con-
Germs, but no announcement OF the
consolidation is expected until the
experts have a chance to study
Colurnbias properties, which will
take several weeks.
It is expected that if the steel
crproation decides to take over
Columbia, the proposition will be
submitted to the department of jus
tice to determine whether the
merger can be effected without con-
fict with the Sherman antitrust
law.
Executive Offices of the Missouri
Kansas Pipe Line Company, will be
moved from Kansas City, Mo-, to
Chicago, Aug. is, Frank P. Parish,
president, said today. The company
has taken a two-year lease on Oh
flee space in the building at 10
South LaSalle street in order to ia
cilitate the financial section OF its
rapidly growing business. w. T.
Stevenson, secretary and treasurer
of Missouri Kansas, will be IN
charge of the Chicago Office.
Twelve of fifteen employees will be
brought from the Kansas City office
to begin operations here. The
operating end of the company will
remain in Kansas City, with B. R.
Bay, vice-president and general
manager, in charge.
Although industrial building has
been at high levels this year, the
cost of a new factory structure is
6 per cent below the average for
the last 10 years, according to q
survey of building costs through
out the country just made by the
Austin Company, engineers and
builders.
The cost of industrial construc-
ton is now 40 per cent under the
peak reached in 1920 and it is at
the lowest point since late in 1922.
The computation is based on a
standard building 100 by 200 feet,
and it includes prices of material
and wages of labor.
Underlying conditions indicate a
decline this month in the rate of
interest on prime four to six months
commercial paper to as per cent,
according to the monthly forecast
of the Karsten Statistical Labora-
tory of New Haven. This forecast
relates only to fundamental business
conditions, as stated by Karl G.
Karsten, president Of the
laboratory. THE downward tend
ency in the commercial paper rate"
Mr.. Karsten said tonight, may, of
course, be modified by the reiterated
tight money policy Of the Federal
Reserve board"
voting trust will be formed to hold
the common stock of the new company |
which is to acquire the assets of Cuba !
Cane Sugar Corporation under the pend |
ing plan for reorganization of the corpora |
ton. it was said today by the reorganiza
ton committee.
Voting trustees will be George w. DavI-
and trust Company; irenee du Point. Of
E. l. du Pont de Nemours & Co.; Charles |
Hayden, Of Hayden, Stone & CO.; George
nf Qy nd
Frederick Strauss Of J. & W. seligman
& Co. The appointments have been ap-
proved by the committees representing
holders.
The Petroleum Corporation Of Ameri-
ca, today issued its first financial state.
sl,384,163 for the period from the date
of its organization Jan. 81, to June 80.
These ftsrnnss derived d from DIVIDENDS
ton of $2,161,SS5 on the corporations
holdings.
:. Through sxperimental work on its mil
ce corn red1ced REPLACEMENT '4 Costs to
sa4sd to ss IN 1pe os IN ga 1929 R.:ass
obtained in tests on new models this year
indicate that the replacement cost per
cording to report issued by compsny en-
gineerS.
Through the acquisition of the skinner
Company, Ltd, of Ganano9ue, Ont, the
Houda Hershey Corporation has forth
fed its position in foreign markets,
by Claire L: Barnes, president of
Hcudaille- Hershey In announcing de-
tails tails Of the a.eauisition:. The skinner
bumpers In Canada and for the past
several years has produced more bump
ers annually than all Of the other Ca
madam hummer makers c0nabined.
Net earnings Of the Square D Company
he eauey of ts se0eo nns
branch Or the BASIS basis Of its present Sel "a
aeeco9rSdins to T. J, Kaufman, president
months Of Is2S sb g.. rspcTssd 4st
for interest. deprec i s fd i ts1es
sSsif s snd 8 IS share sS On the on 0 rs
respectively in the first quarter.
,u fa'' 1875 N'a Esssa st9F:: g9gp' against
s45oi5s or $50 per cent; sales les for for tn:
SIC. 7si'saa co@psred with s4's74.ss2 ' for
the same period last year. an increase Of
s3,l57.lso or Alt per cent.
Pines Winterfront Company has declared
a dividend Of per cent in stock in addi-
ton to. the regular quarterly dividend Of
Is cents on the common stock. Both
dividends will be paid Sept. to stock
holders OF record August II. Similar divi-
denos were paid by the company the
previous quarter.
In the Stock Market
tBy Thomson g. McKinnonl
MEN XORK AL Ia a q