The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-01-24

the interstate commerce commission
for authority to issue $5,280,000
worth of Az per cent second equip
ment trust gold certificates, pro-
ceeds of which will be used to pur-
chase sixty locomotives and TOO
fifty fye-ton steel box cars.
The application was supplemental
to a prior request to issue $685., 900
worth of certificates and increases
the total to $11,175,0 600.
Gear and Machine Company has begun
pi S b BY the illinois Waterways Commis-
| sion. w G. Davis, president, stated late
Wednesday The company already has
Guiding gears and lock operating machln-
cry for use in construction work between
Lockport and Utica. III.
Directors of BerIand Shoe Stores, INC.
have declared the regular quarterly divi-
dend of s1.75 share on the preferred
stock, payable Feb. 1, to stockholders of
record Jan. 90, 1880.
DETROIT, Jan. 2s-N. Bradley Hgbie,
| board of directors at the annual meeting
! of the Baldwin Rubber Company WedneS-
day. replacing C. r. Talbot and E. <.
Myers also was made vice-president in
charge of sales. N, B. Eld-ed IT., sec
rotary. was elected treasurer.
DETROIT. Jan. 24.-The small inves-
tor and Spectator is the foundation of
Americas economic progress and should
aoar Mt
members of the Detroit Stock Exchange
were told here by Thomas Temple
Hoyne. nationally known as an econo-
mist and financial writer.
CHICAGO. Jan. 24.-Plens are being
made by Missouri Kansas Pipe Line Com
pany for more active Development OF its
oil properties in western Kentucky. begin
ming Feb. IS, B. R: Bay, vice-presioent
and general manager stated
Formation of Power and Rail Trusted
Shares. an Investment company OF the
sem-xed type "4 Bida snmoun T1s by F New
York. who will make an Offering OF the
company'S shares. The new trust Will
about sixty leading public utility and
railroad companies, against which trust
units will be issued, with the central
Hanover Bank and Trust Company as
trustee.
The preliminary report of Public 6ervice
Corporation Of New Jersey for 1929 shows
available for dividends For December
gross earnings were $12,57l, $40 against
$l1 M 998 last year. an increase OF $3.50
fotaled 81. 376. s22 against $4,44s.2 78. a de-
crease of $66,356. The balance available
for dividends and surplus amounted to
S4,171 ,407 for December against S487O,4l0
last year, a decrease of S699, 003.
The power output Of the electric sub
salaries of the American Water Works
and Electric Company for the month of
December totaIed 1874, 995.965 kilowatt
hours, gain of per cent over the
output of 1884, 800 kilowatt hours fol
the corresponding month of 1928.
The the year ended December. 1929.
power output totaled 1881, O47,54S kiIO-
watt hours, 10 per cent greater than
the year 1928.
General W. W. Atterbury. president Of
the Pennsylvania Railroad Company. an
nounced that the result Of the recent stock
figures to date show that 98.15 per cent of
the SIT, 1856 $50 OF stock allotted has been
subscribed. This is a larger percentage
than the company received in It's 1928 al
lotment when lesser amount of stock
was offered to the stockholders. The
holders OF the only 2.20 per cent Of the
opportunity to pay for their subscriptions
in two tnstallmentS.
Investment Trust Associates. an invest
holder is United Founders Corporation,
closed its fiscal year on Noy; 80 1929; with
Investments carried at $l2 5Ss, All and cash
the annual report Thursday to share
holders. The market value OF the in
yestments at. Nov. 80. quotations was in
excess of book value,
NEW YORK, Jan. 24.--In a brief sum-
mary of the 1929 operations of Ameri-
can Maize Products Company, manu-
facturers of corn products, President C.
d. Edinburg states that net profits for
the twelve months will amount 10 APP
prOximately $1,625.GOO, or about S.
share on the company's $4,000 shares Of
common stock, after payment OF diU-
bends on the preferred stock. This was
the company's best postwar year. As
an indication of the company's liquid
condition. current assets we're about forty
times current liabilities.
New financing for the. Northwestern
Power Company. Ltd, is being carried out
today with the offering OF a 600
issue of 6 per cent first mortgage CON
group comprising Kissel, Kinnicutt q Co.,
NeSbitt, Thomson b Co., Ltd, Spencer
Trask g. Co.. E. H. Rollins 81 Sons and A.
At regular meeting OF the board Of
directors of Bankers Trust Company held
this week: Alex H. Audrey was elected a
president Of the Security First National
Bank of Los Angeles. CAL
A record output of gas in its terri
tory was established by Public Service
Electric and Gas Company on Jan. 10,
when the company supplied 90, 900
cubic feet Of gas to consumers in twenty
four hours. The average daily consump-
ton for other days of this month has
been between seventy and seventy-Ave
million cubic feet.
International Carriers. Ltd, an invest
ment company. organized, last August TO
this. country and abroad. earned. net
profit Of s372.95l from the date of incep-
ton to the end Of the year and had a
Of Dec. 81. 1929. it was revealed today in
the first annual report issued by its presi-
dent. Calvin Bullock.
Willow Cafeteries. Inc. reports net
earnings after depreciation and taxes Of
s65 1893 for the three months ended Dec.
81, 1929. After dividend requirements on
the 2,053 shares OF convertible preference
stock outstanding. such earnings were
equivalent to slightly over 43 cents per
share on the 101, 40 shares OF no par COM
mon stock outstanding, or at the annual
rate of approximately SLIP per share.
Sales for the three months amounted to
81 106 409.
4 = q q EzslzsSzzl