The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-08-16
Business and Finance

co,pnanv for June shows net income OF
s35 O3e after all charges compaIe9 WIN
% oaS for ,Tune, 1928. Many economics
have been effected In recent months
through consolidation OF operaung o,
5anv and these improvements are hnd!ng
rsfection in the operating ratio OF we
parent company. Gas sales are SnoMiue
a steady volume expansion; am ne +ste of
"a 54 a share for the common STOCK aI -
oficiaIiy stated that the outlook Tor IN, SIe
last half Of the year indicates pOS''0''
gain over this estimate
REPORTS we're current in La Sale street
today that negotiations nave neen Pr at az
Associated Telephone Utilities Company o.
the Union Telephone Company and It's
'I Union Telephone Company is q holding
company with operating subsidiaries IN
Kentucky. Nebraska. Wyoming. Missouri,
Illinois and Mishigan oPp eG mss h Of toll
lines and more than 81. 900 stations IN
eighty-one communities and having an
annual gross income in excess OF $l'zou'-
Opening Of a Chicago office of Pea
body. Smith Co.. at liz West ADAMS
Davis. vice president. who will be in
charge, was formerly resident manager
Co. the inc ch'' Rsssoc Ges With him Will he
Sidney II. Castle, G.. Edward Hiscox.
Edward 4. Walter. Charles a. White and
opened in Minneapolis under the man
agement of Guy A. Nelson. Other OF
fees of the company are located IN
New York. Pittsburgh and Newark, N D.
Alfred Marehey president of tn9 Tem 95PFis
increased to more than 5000 dealers and
seventy jobbers throughout the, United
States. Among the new jobberS that have
cousin Auto Supply Company of WauSau,
wis: Mass Radio Corporation OF Balti-
more, Md; Broom Distribution Company
Of Louisville, KY. and Henry L. Walker
of Detroit
Purchase of the Hetherington in
terestS in Hetherington & Berner,
structural steel plant, Kentucky ave-
nue. and McCarty street, by Robert
Berner and associates last May was
disclosed today.
The company has physical assets
of about 100000, the Hetherington
family controlling $250,000 of stock.
The firm was started in 1867.
Berner is president of the new
company. The plant is being re-
modelled. The Robert Berner Struc-
tural steel plant, 40l South Harding
street, will be sold and the fixtures
and personnel merged with the
Kentucky avenue factory.
Charles D. Fisk has been appoint
ed joint manager, with j. P Grayel
of the branch office of the National
Surety Company in Indianapolis,
according to announcement from
the New York offices today.
BIZ United Press
NEW YORK, Aug. 16.-Contin-
entail Can Company announced to-
day the acquisition of the assets and
business of Gille Manufacturing
Company of Kansas City, Mo-,
manufacturers of tin containers.
The new unit was acquired as q
link in the companys coast to coast
chain.
BIZ United Press
NEW YORK. Aug. 16-All grades
of Pennsylvania crude oil have
been reduced Is cents a barrel eX-
cepting oil in the Buckeye pipe
lines, which has been reduced 30
cents a barrel, it was announced
here today.
Offering will be made shortly OF 71,0OO
units, one share of class and one share
of common stock. in the Vortex Manu-
| featuring Company manufacturers Of
paper drinking cups, by Paul H. Davis &
| Co. Harris Small & Co. of Detroit and
Alfred L. Baker 81 Co., at price Of
The Vortex Manufacturing Company.
produces the Burt cup, and in 1928 manu-
| featured and sold more than l,000,000000
| Of them.
| The last piece of steel has been laid
| on the branch line to the Sheriff Cor
DOM. the huge cOpPer-zinc mine in
| this new branch has been rushed to
enable mine operators to get their heavy
| equipment into the property SO that
| installation may proceed during the
winter months. Ballast gangs are busy
giving the line the first lift of gravel
and with continuing good weather cOndi-
tions it is expected that the line will be
| turned over to the Canadian National
| Railways for operation early this fall.
p. & w. Grand Stores for the six months
ended June 80. 1929, reports net profit of
equal to $1.65 a share earned on the
| 268532 shares Of common stock outstand-
ing. This compares with net profit, OF
| year, equal to SLIT share on the same
| amount of stock.
For the first half of 1929 net profits
| increased 43.5 per cent, whereas sales for
the same period increased 1875 per cent.
| indicating larger margin OF profit.