The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-10-26
Business
Finance

NEW YORK, Oct. 24.-Bethlehem
Steel Corporation today reported net
profit of $11,384,72O. after interest,
federal taxes, depreciation, deple-
ton, etc., in the third quarter OF
1929 equal to S4.01 common share
on 100000 shares, against S4,272,-
528 in the same period Of last year.
BIZ United Press
WASHINGTON, Oct. 25.-Per-
mission to issue an aggregate Of
Sill, 100000 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 $38,65o,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
Insurance Ud tI COMPANIES pan 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.
Pierce-Arrow Motor Car Company re-
ports net profit for the first nine months
of 1929 of S2,456,673 against losses of
S1,0S7926 in the same period last year,
improvement of S3,49f,599 as between
the two years.
The state of New Mexico has issued
6ahan4nraS thrOU IN
John Nuveen & Company and c. w Nc
Near & Company for the purpose OF con-
sctructing highways.
The General Leather Company Of New
ark. principal subsidiary of the Rey-
TaS Sns Ss New oRR SeS
& Hartford Railroad and the, Para
mount Cab Co. for upholstery leather.
1900 hides. The New York, New Haven
g. Hartford Railroad Covers coach con-
struction for the ensuing six months.
DETROIT. Oct. 2a.-Machinery is being
installed and and production wi win begin within
ing Companvs western division at Marsh
field, Ore, al a cost of $500 900, accord
ing to E. S. Evans, president.
Automobile production continues at levels
SUBSTANTIALLY, lower than was the case
earlier in the year. September 0on prodge-
cline of 5000 from the August figure, and
drop of 100000 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
to $685. a share on 2,41900O shares of
capital stock. This is before giyin. ef-
feet to the merger with BristSl-MtyeTs
consummated by the distribution of
259,7O? shares of Drug stock to present
Bristol-Myers stockholders.
During the quarter ended Sept 30. 1929,
Chrysler Corporation earned $685., l79, 81
er p 5fngS the or o3
pairing with s21 7$e,27s.5l for the first
ings, however, fell somewhat below the
corr eSpouding period for last year, due to
several causes, prominent among which
discussed in greater detail hereafter. and
Incidental to the delay in securing bodies
Balance sheet at Sent. 30 1928. shows
net current assets Of $SS. 439, 469.3o, an in
Of 5nd 1e5s during ri the as a hgg
for the first nine months Of 1929. The
ratio Of current assets to total current
dividend for the fourth quarter. at the
end of September was 3.81 to l. compared
with 3.38 to i Dec. 81, 1923.
En- Times Special
TORONTO, Ontario, Oct. Is. -
Building and construction contracts
awarded in Canada in September
of this year were higher than for
any previous September on record
and the total for the first nine
months of this year was SAL ,643, 900
or $62,000,000 higher than for the
corresponding months of 1923, when
1919, 100000 worth of contracts was
recorded, according to MacLean
Building Reports, Ltd. Value of
contracts awarded in September
was $46,959 200.