The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-02-03
Business
and
Finance

Company, Inc, being a party 10
through rates from indianapolis to
California and North Pacific coast
ports, has purchased three steam
ers, formerly the Kelvina, Neponset
and Radnor, renamed Mathew
Luckenbach, Susan v. Luckenbach
and Jacob Luckenbach, respectively,
to augment its present feet of five
steamers from Mobile and New Or
leans to the Pacific coast. This Is
increasing evidence of the recog-
milton given the indianapolis dis
trict and the central west with re-
lation to Pacific coast business.
Alfred P. Sloan Jr., president
General Motors Corporation, an
nounces that General Motors is now
making a distribution to l5,177 of
its employees through the corpora
tons savings and investment fund
class Of 1924, which matured at the
end of 1929. The amount so dis
tributed represents a total Of So
608 900 and consists Of $2,768, PAS in
cash and AS 1894 shares Of General
Motors common stock. Six classes
Of the savings and investment fund
have matured up to date and the
number of employees sharing in the
present distribution Is the largest.
The United-Carr Fastener Corporation
reports estimated net earnings for 1929 as
$625. 900 equal TO $3.50 per share on $50
United States Fastener Company and the
Carr Fastener Company which were
ship Of the First National Company Of
Boston and the Central Trust Company OF
Chicago. The consolidated operating state.
ment for nine months OF 1929 shows net
profit before charges of 1909. 925:37 with
sl4s,9 2s.37 allowed for depreciation with
e at oa G5 tn aRd %
come taxes of subsidiaries, debenture in
terest, state and federal income taxes, re-
port shows s576. o04.66 available for diyi-
bends for the nine months period. The
1929 dividends equal $l.2o per share.
Net income Of the Borg Warner Cor
poration in 1922 Appropriated $3.50. 900.
it was stated yesterday by C. S. Davis,
president following 3 meeting Of d.
rectors.
"Our certified audit has not been com
pieted as yet" Davis said, so the exact
amount can not be given, but our fg-
Ures indicate that the net income should
be ut least $3.50, 600 after all charges
except preferred dividends"
Employees Of the Continental Baking
Company will again participate IN $40
900, 900 policy placed with the Metropoli-
tan Life Insurance Company by the Con-
tinental Baking Corpooratio9. OF New York
ing plants in various parts OF the country.
it was announced by T. r. Murphy local
manager.
Loadings Of revenue freight for the
week ended on Jan. g., totaled 1888 cars.
Halfway Association n'G reports vic e i'
Compared with the corresponding week
in 1929, this was a reduction Of s4,5os
low the corresponding week two years
ago. The total for the week of Jan. l6.
was also a reduction Of 1888 cars below
This reduction under the preceding week.
as we'll under the corresponding weeks
to severe weather conditions in practic-
ally all parts o. the conntry' put sSp &c
Eastern and Allegheny regions.
CHICAGO, Feb. 1.--AtIas Stores Cor
porations December sales reached the
highest monthly total on record amount
ing to $2,56S,000 as compared with
s2,t00,0O0 in November, the previous rec
ord and s2,162, 900 in December, 1928.
The Increase over the corresponding
month Of 1928 was 1878 per cent.
United States Electric Light and Power
Shares Inc. one Of the largest invest
ment trusts in the United States special
izing In the holding Of public utility Sc
curities. will undertake new financing
through the offering Of new issue OF
ton is the oldest and one OF the largest
trusts in the world not of the management
type.
The purchase Of the Joseph Homer
group of ice companies serving cities in
Central Michigan was announced Sat-
urday by the Csty Ice and Fuel Com
pany. The companies are the Consum-
ers Ice Company and the Moon Lake lee
Company Of Grand Rapids, the City
Company Of Flint, and the Owosso Ice
Company of Owosso. Their business will
be merged with City Ice and Fuel which
now operates a chain Of Ice and fuel
plants In twenty-five states and Canada.
The Reynolds Springs Company reports
month in the history of the company. This
includes both new contracts and releases
in the automotive industry.