The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-10-25
Business
Finance

NEW YORK, Oct. 24.-Bethlehem
Steel Corporation today reported net
profit of $11,384,720, after interest,
federal taxes, depreciation, deple-
ton, ETC., in the third quarter Of
1929 equal to $4.01 common share
on 100000 shares, against $4,272,-
528 in the same period Of last year.
BIZ United Press
WASHINGTON, Oct. 25.-Per-
mission to issue an aggregate OF
$11o, 46o,0o0 of new stock was sought
from the Interstate Commerce Com
mission today by the Missouri Pa
cif1c Railroad.
The new common stock is to be
in two issues, one Of ST. 300, 100 and
one of $38,659,900. The first issue
will be exchanged for outstanding
preferred stock and the latter issue
is to pay off accumulated dividends.
NEW YORK, Oct. 25.-Crum and Fors~
ter, managing and operating a number
n com pam IN the Gnited States
have acquired a substantial interest In
The Transportation Insurance Company,
The Transportation Reinsurance Company
and The Transportation Indemnity Com
pany, it was announced today.
ports net profit for the first nine months
of 1929 of S2,456,673 against losses of
81 ,037,926 in the same period last year,
an improvement of $3,494,590 as between
the two years.
The state OF New Mexico has issued
s.; 900 900 per cent debentyres through
Near & Company for the purpose OF con-
sctructing highways.
The General Leather Company of New
ark, principal subsidiary Of the. Rey-
nolds Spring Company. has closed con-
tracts With the New York ad New .hs Haven p.Ta
mount Cab Co. for upholstery leather.
The Paramount Cab order calls for
& III Hartford Railroad Covers coach con-
struction for the ensuing six months.
the next few weeks in the new plant re-
Gently acquired by the Evans Auro 'ca.-
Ing companys western diy hdo ooa at Marsh
ing to e. S, Evans. president.
Automobile production continues at levels
substantially, lower than was the case
ton is estimated at 4l7,oO0 cars. a de-
cline of 95, 600 from the August figure, and
drop of 426 900 or nearly 40 per cent
from the peak for all time reached in
April.
Earnings Of Drug Incorporated for
1929 are expected to be approximately
S16,57O000 after all charges. equivalent
to SS.S5 a share on 2,419.000 shares of
capital stock. This is before giving et-
feet to the merger with Bristol-Myers
Company, which will shortly be fully
contaminated by the distribution of
Bristol-Myers stockholders.
During the quarter ended Sept 80. 1929.
Chrysler Corporation earned $6,635. 1888
which brings the accumulated net profits
after provision for federal income taxes
for the year to date to s24, 730, 419 %, com
pairing with s2l. 786,276.5l for the first
nine months OF 1928 Third quarter earn m
corr esponding period for last year. due to
several causes, prominent among which
we're a decrease in the volume Of sales
discussed in greater detail hereafter and
laps in the production OF Chrysler cars
incidental to the delay In securing bodies
for new models.
Balance sheet at Sept. 80. 1929. shows
net current assets of s8S. 439. 469 80, an in
crease of S1,7S1, 614.45 during the third
quarter and an increase OF $40 500, 81 IS
for the first nine months of 1929. The
ratio of current assets to total current
liabilities. after proyisi9n for the regular
end of September was 3:s1 to l, compared
with 1888 to l Dec. 81, 1928.
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