The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-02-01
Business
and
Finance

BIZ United Press
SAN FRANCISCO, Jan. 3i.-A
consideration of 81 100000 is said to
have been involved in the deal by
which control of the Peninsula
Rapid Transit Company and the
Pacific Auto Stages Company, two
of CALIFORNIA; largest motor coach
operators, was acquired by Pacific
TRANSFORMATION Securities Inc, the
majority control of the last concern
is held by the Greyhound Corpora
ton of Chicago and Pickwick
Corporation.
The acquired companies operate
between San Francisco and San
Jose.
Public offering Of a new issue OF SIS
900 900 Electric Power and Light CORPORA.
me at s2is and accrued interest to
yield about $40 per cent. Electric Power
called Electric Bond and Share Company
properties inasmuch as its operations ere
by ths tonro o3 the
Of directors of the respective organza-
lions.
The G. C. Murphy Company. operating
a chain of variety Scent to 81 stores
reports net profits after taxes for the
wear ended Dec. 81. 1929. of szs9,16S.
This represents An increase of S226.4Ss
or 1877 per cent over net pronts Of
S67O,6SO for 1928. Earnings for 1929
show $5.47 per share for the common
compared with $4.29 per share In 1928
Sales for 1929 were 29.7 per cent
ahead Of 1928, totalinE SIS, 726.65l COM
pared with S12,11S,1S7, an increase Of
3.6Os,46 Stores operated at the end Of
1929 totaled 1853 as against 1873 ut the
end of 1928, an increase of Is per cent.
Tho balance sheet showed u current
position Of 80 to 1.
The Canadian National Railway Com
pany has awarded an issue OF $4,000. 900
bonSs dne Feb per s e RroSp e sSa
sisting of Dillon. Read & Co.. The National
City Company, Guaranty Company Of New
York. Bankers Company Of New York;
Commerce. The Royal Bank of Canada.
Dominion Securities Corporation. Wood,
Gundy g. Co., Incorporated and A. e.
Reynolds Spring Company announce
today the entire issue Of 247.610 shares
of additional stock authorized to pro-
vide for the purchase Of the Premier
Cushion Spring Company had been sub
scribed. taken up, underwritten and paid
for in full. The new stock was available
to stockholders of record Oct 81, 1920
at $3.50 per share on the basis Of one
share for each 2 held. The original ex-
piration date was Nov. 81, 1929. The
subscription time was extended until
Jan. "a. 1885, because Of market con-
ditions at the time Of the original ex-
piration date.
Associated Telephone Utilities Company
has purchased the Mutual Telephone
announcement Thursday considerable in
terest in stock in the company was &C
The propety 1cdes Sg more eS thaS
stations and six exchanges. When these
are formally taken over Associated Tel
approxima tely 424. 900 stations in twenty
states.
DETROIT, Jan. 31.-Evans Auto Loading
Company plants are operating actively
at about 70 per cent Of capacity and new
lines which are believed TO hold consider
able promise are being developed and will
be under production later in the year, Ed
ward S. Evans. president, announced late
Thursday
Within every seven-year period since
1915 the dividends assets surplus, capt.
tai and market value of securities Of lead
ing insurance companies have doubled and
business depreSSions have had no effect
on the rise other than to lower market
value temporarily, according to a study
Just completed by the United states Shares
Corporation. New York.
CHICAGO. Jan. S1.-The oskes Prod
ucts Corporation, division OF HoudsiIle-
Hershew Corporation. has been awarded
new contract. under which II should pro-
vide approximately 500, 900 tire locks to
one Of the largest automobile msnufac-
turers In the United States. 1t was an
nounced by Claire L. Barnes, president Of
Houdaille- Hershey Corporation.
CHICAGO. Jan. s1.-with more. than
$4,000. 900 900 appropriated. for road work
In the forty Eight states of the Union this
year. Foote Brothers Geor and Machine
Company anticipates the greatest activity
in the history of its road machinery divi-
sion. according to W. c. Davis president.