The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-08-06
Business and Finance

The cooperative movement in the
United States which came to the
fore this week with the announce
ment that 100000 American farm
ers and livestock raiSerS with gross
returns in 1928 of over 100000 900
were about to unite in an agricul-
tural cooperative effort that would
be the strongest and most efficient
in the world, already claims $4,000
individual members, and annual
sales of $14,000,000, according to
Cedric Long, executive secretary OF
the Cooperative League of the
United States of America in a spe-
cial article for the publishers of the
Encyclopedia Americana.
The fifty most active stocks traded
on the Chicago Stock Exchange dur
ing the week ended Aug. 3 had a
market value of $2,565 ,276, 232 at the
close of business Saturday as COM
pared with $2,214,193 1868 at the close
of the previous week. This repre-
sents a gain of 1851 ,052,364 or 1885
per cent.
Bethlehem Steel corporations flu
ture success never was better as
sured than it is today, according
to Eugene G. Grace, president, in
a statement to the company'S en-
ployeS, which will be published
Wednesday. Grace's statement will
be included in report to the en-
ployes, similar to the company's
yearly reports to stockholders, COW
ering the annual conferences which
just have been concluded between
the management and representa-
tiveS of the employees.
These conferences, it is pointed
out, were held this year under the
most encouraging conditions Beth
lehem has ever seen.
The board Of directors of the Chicago
South Shore g. South Bend Railroad has
declared a quarterly dividend of 1ss per
A preferred stock of the company, payable
Sept. 2, 1929, to stockholders Of record
Aug. IS 1929.
The board of directors of the Gary Rail
ways Company has declared the regular
quarterly dividends Of $l.80 g share on the
oo1srsn9ng CaSs preferred o stock Of the
holders Of record Aug. 20, 1929
The board of directors of the Indiana
Service Corporation has declared tho
regular quarterly dividend of 134 per
t tss' a9S nd per cent rSspestye on
cent preferred stock of the company.
payable Sept@2, 1929, 10 stockholders Of
record Aug. Is, 1929.
Gas Company. has declared the regular
quarterly dividend of Ia per cent on the
outstanding 7 per cent Glass A preferred
i 1885, 70 e Of fecopd A9 P IS
1929.
Entering upon a new month; the steel
industry continues its unusual perform
that the summer recession has been OK
ceptionally, moderate and August pros.
poets are favorable. Not unnaturally. mill
gree at different points, but some of the
let-doUn has been due to extreme heat
and humidity. and also. to, the need for
pressure for long time.
Certain unusual features have deyel-
oped in dry goods channels as result
of The protrscted hot weather over
temperatures have greatly stimulated
consumption Of summer goods of all
kinds, the buying having continued for
Hence, stocks that seemed formidable
earlier in the season have been apprc-
Gladly reduced, substantially lettering
higher prices for raw cotton have quick
cned demand for manufactured products
with some corresponding increase In
frmness of quotations for the latter.
No change from the heavy volume of
bank clearings is noted, leading cities OF
Of Of si2,76o ,962, 900 to Dun's Revie% this
week The amount is "a per cent in e%-
cess iof that of year ago, there being
and one of ga per cent at outside centcrs.
Of the twenty-five outside cities in
Guided in the statepent, only three show
ma p5a BANK Ssag g. o1s N
and San Francisco. Elsewhere. some large
increases appear. notably at Pittsburgh.
Buffalo, Cleveland. and Atlanta.
Announcement of the purchase OF the
Mouscr pharmacy, 349 South East street,
by the Haag. Drug Company, was MADE
ated by the drug firm. The store Will be
remodeled.
A banking group composed of Henrie,
Hail & Murphy and Nichol-Ford of De-
troit and H. C.. Watts g. Co. of Chicago
are offering today $4,000 units OF tne
stock of the General Parts corporation
at SI1. The units are composed of one
share of convertible preference stoek
and one-ffth shars of common sIG ;c
Upon 1sapest o. the ne os IN Iiss tbe con-
vertible preference and common STOCK
on the Detroit and Chicago Stock EA-
changes.
The information of a tin applications
committee for the PURPOSE of organizing
research into improved commercial APP
new u-es for the metal is announced IN
the current issue of lin.
That the reorganization plan OF the
Chicago. Milwaukee. st. Paul d PACING
Railroad has been highly successful IS m
dictated by the fact that since the aaop-
ton of the plan on Jan. 10, 1928, there
has been an increase in the company
earnings and reduction in operation
charges, according to the review puolsneo
by Frazier Jelke 81 Co.
More than a billion dollars of new
money went into the securities OF
in the turning over Of capital. IN Inc
first six months of 1929. according to
Clarence Hodson & Co., Inc. This IS
the largest volume going into companies
of any particular group and vastly eX-
ceeded the demands of the industrials,
public utilities municipalities. or rail-
roads The financial group included in
vestment companies of all kinds: insur,
ance companies, surety companies ana
all others dealing in the dollar as sheir
stock in trade.
The Loose Wiles Buiscuit Company:
Cameo vending machines and six talking
devices during the past week. according
TO an announcement by the Consolidated
Automatic Merchandising Corporation. A
like number of the talking robots were
also installed by ". A. Wieboldt & Co..
Nliica 20 Ill Two orders of ten units and