The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-09-26
Business
Finance

ers: Alloa Glass Works Of Alloa, Scotland
Portland Glass Co., of Glasgow, Scotland;
France; Standard Bottle Co. of London.
England; Consumers Glass Co., Of Mon
treal. Que. and the Midwest Glass Co.
of winnipeg. The Montreal company has
ordered ten additional machines to those
already in service
1t is expected that units of Interstate
Equities Corporation, Bancamerica- Blair
Corporations Investment trust, consist
ing of one share of So preferred and one
share of common, will be divided within
the next few days into separate pre-
ferred and common stock. The issue was
brought out early in August at $50 per
unit.
Skilled workers and artisans are the
largest borrowing group under the small
loan law, with common laborerS second,
according, to Leslie G Harbison, president en-
the largest company of its kind in Ameri-
ca. Such loans. ranging from $50 to $500,
are usually made in time of sickness or
death, because Of temporary lack OF en-
ployment or to wipe out overdue. house,
hold bills. They are obtained quickly and
provide immediate cash without fines,
fees, discounts or other charges, at a
rate of 212 per cent month on the IN
paid balance. HarbisonS company oper-
ates only in states where the small loan
law is in force.
c. H. Eib. president Of the Pettibone-
Mulliken Company, announced today that
new business booked for autumn delivery
to operate some of its departments at
night. and that an additional force was
employed this week. At the present time,
$50 men are employed full time.
Commercial Credit Companies will
finance the sales of the Fluid Heat, Inc,
Burner, throughout the United States,
according to the terms of a contract
announcement made this week at the
Commercial Credit offices in Baltimore.
Dillon. Read & Co. announce that the
Chase National bank is prepared to ex-
change defnitive bonds, with warrants,
Of the S5.000,000 Ernesto Breda Company
first mortgage per cent issue for interim
receipts.
A new Chicago investment trust, spon-
sOred by Folds, Buck Co., is being
formed with an authorized capital of
SIS, 900, 900.
James r. Buck, president of Folds,
Buck & Co., confirmed this information
today and revealed some Of the details
incident to the formation of the new
trust.
The Central Alloy Steel Corporation has
completed construction and started opera
ton of the largest nitriding furnace in
a san GG By q; CHAIRMAN ss .C Griths Of
the company. The new furnace will be
utilized to promote the use of nitralloy,
one of the important new alloys being
produced by the company under Krupp
licenses.
Insurance stocks lag far behind in the
general rise of security values. During
the first eight months fthe year they
increased only 0 per cent in value as
trials, rs per cent for railroad stocks
and 10 per cent for utilities. according
to study made by the United States
Shares, Corporation. In years prior to
undergone substantial appreciation, in
surance stocks have led the market.
This year the lag is particularly pro-
nounced.
NEW YORK. Sept. 26-Present plans of
the management of the Aero Supply
Manufacturing Company, Inc, in which
John j. Raskob owns a substantial stock
interest. call for the acquisition of addi-
tional properties to more thoroughly round
out the companys production.
Directors Of Mona Electric Corporation
declared the. regular quarterly dividend
Of forty cents a share on the common
Oct. Is
DETROIT, Sept. 26.-PIans for the
formation of a large investment com
financial and banking interests designed
to materially broaden the city's financial
facilities are revealed today in announce
ment of the SS6,0OO,OOO Great Lakes
Corporation.
All manufacturing activities in Chicago
Of the @. r. S. DeVry Corporation are
now carried on in the plant at 1929 S.
Kedzte avenue, T. M. Fletcher president,
announced today.
Purchase of the largest order of
steel rails in the history of rail-
reading was announced today by the
Pennsylvania railroad.
The company's rail quota for 1880
will be 10000 tons, it was said. The
new rails, with fastenings, will cost
approximately $21 100000.
The Pennsylvania rail orders in
1923, 1929 and for 1890 aggregate
100000 tons, or the largest consecu-
tive yearly purchases ever made.
BIZ United Press
WASHINGTON, Sept. 26.-Author-
ity to issue bonds totaling $780,
900, to be used in buying new roll
ing stock, was asked of the inter-
state commerce commission today
by the Baltimore & Ohio railroad.
The road stated it contemplated
buying 1000 seventy-ton steel
gondola cars, 1000 seventy-ton steel
hopper cars, $500 fifty-ton all-steel
box cars and fifty seventy-ton all
steel passenger coaches.