The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-01-03
Business
L and
Finance

The Maytag company mas retlreo S4,9vO
stock and 5000 shares Of its So f1rst
preferred stock. It is announced by Presi-
q qered we're payychssed By the e Company
at advantageous prices in the open mar
ket. in part from the proceeds OF its
ment will reduce annual preferred end
preference dividend requirements by s15l.-
500 oT bt p to sne IF shares
of common stock are being cancelled.
In spite of the stock market crash,
radio closed 1929 with the biggest year
sets 10 were Sold. and total, radi9 oa PS 5S
chases by the public reached $50 900 600.
Somf late Fail Of isas ba It IS
that such overstocks of manufacturers
will have been absorbed to a considerable
extent by the active Christmas business.
Five-year convertible per cent gold
notes to the amount Of $1,000 900 has
been authorized by Van sicklen Cor
poration. a subsidiary of Allied Motor
Industries. Inc., in connection with the
acqu' Ji!ion Of Lorraine Corporation,
manufacturer of 4 controlIabie autOmo-
bile driving light protected by more
than 800 patents which cover the spot
light field 50 thoroughly that other
makers OF SpobuSnCS
on a royalty basis under license from
Lorraine Corporation.
Figures presented to the Associated
Grocery Manufacturers of America show
that the average independent grocery
es and bs an cban store &c.
The maximum and minimum stocks re-
ported we're. respectively, 1000 and $50
items.
BIZ Times Special
NEW YORK. Jan. s.--with the advent
of the new year. distributors and retailers
tories, and the current demand for hard
ware has, as usual. lessened perceptibly,
Hardware Age will say Saturday in its
weekly market summary. Reports from
the principal market centers indicate that
the holiday volume exceeded expectations
in most instances.
Buses in 1929 carried 1000, 900 600
passengers on average. trips of Slightly
over Ave miles each. thus providing well
transportation. This. represents an in
crease of more than S per cent from the
preceding year, according to preliminary
Activity in the textile industry dur
ing 1929 was somewhat higher than
during 1928. Domestic consumption of
cotton by mills is estimated at approx
mateIy 100000 bales, as against
$500, coo bales in 1928. Consumption of
wool by domestic mills in 1929 was in
the neighborhood of 610,OO0,OOO pounds
of grease wool as against 5SS,OOO,OOO
pounds in 1928.
Commercial transactions during the
week ended Dec &C. as measured by the
volume of checks presented to the banks
for payment, we're less than in either the
preceding week or the corresponding period
Of 1928. according to the weekly state
Steel plants were operated, on lower
last year. Receipts of wheat, cotton and
hogs at the principal markets were. lower
than in the corresponding week Of 1928
while cattle receipts were. larger. The dis
tribution of goods, as indicated by. the
volume of car loadings for the latest re-
ported week, was lower than in the same
period of year ago.
Expenditures by the electric railway in
dustry for extensions, improvements and
maintenance will be considerably greater
in 1880 than they were in 1929, according
to reports received from large number
of the more important operating COM
panies. These reports forecast total eX-
penditures of approximately $4,000, 600.
An average increase of approximately 10
per cent Is indicated in expenditures for
new plant and equipment, including track,
cars and electric power.