The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-08-24
Business
and
Finance
The railroads in the future, instead

yey transportation on highways and
waterways and in the air, and Will
coordinate all forms Of Transports
ton into a single, integrated serv-
ice, the Union Trust Company OF
Cleveland predicts.
Into the future Of the roads two
fundamentally important and high
" conjectural elements enter-con-
solidation and aviation" the bank
says in It's magazine, Trade Winds.
mo tangible predictions can be
made concerning consolidation, but
its vital relation to general national
progress makes it indubitable that
some decisive action will be forced
within year or So"
The announcement of the Fed
eraI Farm Board that 1t would
lend between $1,000 900 and $780,
600 900 to American cotton grow
ers in secondary loans to the
extent of Is per cent above the 6S
per cent loans already authorized
by the federal intermediate banks,
all values being based on future
hedging contracts on representa-
tive cotton exchanges, is a great
testimonial to the efficiency OF
the various cotton exchanges,
Philip B. Weld, acting president
of the New York Stock Exchange
said today. This action by the
farm board, Weld states, will not
only be of great help to the In
dustry, but also constitutes
tribute to the exchanges.
The adjustment committee OF the
New York Hide Exchange an
nounces the following price dlf1er-
entails between the basis grade ana
the respective grades listed below:
Frigerif1co steers, 2.5 cents pre-
MUM: light steers, ITO cents pre-
MUM: cows, ITO cents premium,
hacker heavy native COWS, l cent
premium; heavy Colorado steers no
differential. ~
The price differentials on all
other grades deliverable against ex,
change contracts are unchanged
from the differentials fixed by the
committee on July % and AMENDED
Aug. 6.
CHICAGO, Aug. 23.-Dirctors OF
the Federal Reserve bank OF Cnl-
cago made no announcement re-
earding the institutions present
rediscount rate of per CENT IOA-
lowing their meeting today
CINCINNATI, O., Aug. 23.-Ac-
ouisition by the Buckeye Cotton OH
Company. subsidiary Of the Proc
ter 81 Gamble Company OF the Dixie
Cotton Oil Mills at Memphis ana
the Louisville Cotton Oil Company
Louisville, KY. was announced Iate
Thursday by R. r. Deupree, genera
manager of Proctor & Gamble.
The transaction involves about
100000 and adds two plants to
the thirteen already operated by the
buckeye company in the south and
southwest.
rs hEGu aFFlfdY 5Ftes sS G%osTporatiop oda
announced that the company wou.1 s ssIfiS
It's neT n TaGF ppodueto e viii Be-
at the rate of 500 day, according 10
Hurley.
The votex Manufacturing Company,
recently listed on the Chicago stock
Exchange, today announced. ed that At. M Con
n aTiIs P Ras GSn compsnS for
drinking CUPS, which VIII Re sta N fhs
ssupmsnt in 500 hiIlnE T. stations and o. adja
the the vortex Manufactgrins Company.
JuIy show an increase Of IS per cent
over July. 1928.
h tsat the VIA HauERS Wei No j. in Section
s Gt the B VAS sw al Ten
Of Of ss,iias feet. The, well, which is IN IN.
G 1earest drilling Weii and is located on a
2s1o-scre tract which Amerada owns In
partnership with Rosser q Pendleton.
Jules Destombe, ylcs,prssidept Of til, the
Paris Commodity Exchange, has has 5 Sesp
ELECTED to msm5srship IN the sSen e0rk
Schwabach of the E. ]. Schwabach & Co.
New York, also has been elected 70 the
exchange.
Although high wages have. in the past
been regarded as signal for 2 faLlng
seems apparent in the present era OF
prosperity, says todays issue Of the
Business Conditions Weekly OF the Alex"
ander Hamilton Institute.
Since 1919, factory wages have IN"
creased 10 rer cent. At the same time,
factory output has increased 4S per cent,
and the cost OF labor per unit has fallen
about % per cent.
Earnings of the McCord Radiator and
Manufacturing Company in the past four
years have shown little vartsti9n,
with the net income for 1928 being slight
ly lower than that for 1925,
The company is reported to. be doing
better this year, however, and gives prom
fse Of showing the hrst substantial sx--
pansion in earnings for some years. Net
Sass $50 as COMPARED With s2.i2S7s I.
net income for this period in 1929, as
against sl7s;s4s in 1929: The r eonP.s ANY
months was about 20 per cent higher
than in the corresponding period OF last
year.
Now York curh Market