The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-07-22
En- Times SDCciGl
CUTG T,,I,


and stock financing in the United States
during the first half of 1929 totaled $685.
923.8S5, according TO a statistical survey
by the Young & Becker Co. of Chicago.
specialists in real estate and industrial
financing. This is decrease of about
IS per cent from the record volume of
First mortgage real estate bond issues
during the first six months of the year.
decrease Of 30 per cent from last years
total of S403, 100, 900. Financing of real
estate by stock issues, however, totaled
S72896, 49, a gain of approx ina tely PIG
per cent over thu volume in the first
half of 1928.
largest market place in the world. will be
held this fall from Aug. 1851. The fair
yin be attended by more than 1920 Zoo
America sends more than 5000 buyers and
exhibitors to Leipzig every year. AT the
spring fair more than s40o.0 100000 worth
OF business was transacted. fully half be-
ing credited to foreign visitors, with the
United States the second largest buyer.
America also sent more than 100 significant
exhibits to the Leipzig Fair indicating, the
country's rapidly expanding world trade.
Much of the interest in dry goods chan
nels now is in the beginning of fall trade
in some divisions, says R. G. Dunn & Co.
A promising start has ben made. with con-
siderable business already placed. and
visiting buyers from agricultural sections
are more. confident in their views regard
ing the future.
sharply higher prices Tor wheat. and corn,
with the consequent indication of q
STRENGTHENED purchasing power in farming
tivity in various lines OF industry has
favorable influence in textile markets.
Opposing. factors include the continued
labor troubles in some southern cotton
mills. while manufactures complain about
the marrow profit margins. or the lack Of
profit. in the new bushes. offered.
Ia NJ toa r VNFr f1r r
tendency to curtail production. while the
advanced cost OF raw material is another
element making for more frmnesS in prices
for some goods.
Not q2nly. ere aggregate bank cl,eesringss
dominate at individual cities. Total bank
clearings last week: as reported to r: G.
pun & Co.. are s12.s05,47S, 900. WHICH il. is
the same period of 1928. and the New
York City figures. $4,000. o0o 0oQ: show a
gam OF ST. per GENT al SOUS ~ '0OO' me
above those of year ago.
Increases appear at nineteen Of the
statement. the most conspicuous exhaustion
being at Boston. Pittsburgh. Buffalo. Cleve-
land, Cincinnati Minneapolis, Atlanta and
Portland. Ore.
With a total of 376, decided lowering
of the number of failures in the United
StdleS Is E6DOTI6Q DN II. y. Dun q 20. LOT
last week. The pervious week. $40 defaults
occurred, while the number year ago
was 426. Except for slight increase in
the south. all sections had fewer insol-
vencies this week than last week. while
the south alone showed an increase over
the figures for the same period of 1928.
Numbering 81. Canadian failures this
week are II less than last weeks 40 de-
faults and 10 under the Al inSolvencies re-
ported to R. G. Dun & Co., year ago.
BVT-uitcd Press
. 7 shin 51cSx July 22.-stocks of
wheat of the 1928 crop in interior mills
at 40136.000 bushels. according to a state
ment today by the United States depart
ment of agriculture.
On July !. 1928, stocks we're estimated
at 1927 900 bushels and on July !, 1927.
at 2l776.000 bushels
WASHINGTON. July Pirates on pc
troleum Shipped from southern California
10 Arizona and New Mexico we're ordered
reduced today by the Interstate Commerce
Reductions provided will cut the rates to
Arizona from 80 70 10 cents hundred
pounds and from 60 cents to so cents on
New Mexico shipments Reparation was
awarded to shippers for overcharges in the
past.
Prospective building programs Of the
worlds merchant marine and nayies in
dicate the construction of 100000 gross
tons OF shipping a year, according to a
survey Of the marine field Just COM
pleted By the Copper and Brass Asso-
The survey points on that at the be-
ginning OF the present year merchant
shipping under construction in all coun-
tries totalled 100000 tons. Of which
1912. 900 tons was steamships and 1885,
900 tons was motor ships
Great Britain had 705.000 tons of steam
ships and $4,000 tons Of motor ships
under construction. Germany 225. 900 tons
steam and $4,000 tons motor. and the
United States. $1,000 tons steam and
5000 tons motor
NEW YORK. July 22.-Negouations are
under way for 2, consolidation Of the
Phenix National Bank of New YORK CITY.
it was reported here today. but no Off
cial confirmation could be obtained from
reliable sources.
Officials Of the latter bank would make
no statement regs rding merger neRotia-
lions. eut. admitted 6ickering for such a
ccnsoldaGAM