The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-01-04
Business
and
Finance

The Maytag Company has retired. $4,000
shares OF its 50 cumulative presfsereln 1se
preferred stock. it is announced by Presi-
retired were purchased by the company
ket. in part from the proceeds OF its
exercise Of warrants. and their retire
ment will reduce annual preferred and
500 Incidental to the retirement, war
rants for the purchase OF 45,375 shares
of common stock are being cancelled.
radio Cos Closed 1929 with the biggest year
in its history. Nearly four million radio
ss 6T the sold aub Dd reacted Ss nS 5
Some reproduction developed during
the late fall of 1929, but 1t is expected
will have been absorbed to a considerable
extent by the active Christmas business.
Five-year convertible 6 per cent gold
notes to the amount of 81 900, 600 has
pOratIon. a subsidiary of Allied Motor
Industries. Inc, in connection with the
acquisition of Lorraine Corporation,
manufacturer of cOntrollable automO-
bile driving light protected by more
than 800 patents Which cover Tb the spot.
makers of spOtlights manufacture lamps
royalty basis under license from
Lorraine Corporation.
Figures presented to the Associated
Grocery Manufacturers of America show
that tbs average independent grocery
store carries an average stock of 1500
The maximum and minimum stocks re-
items.
BIZ Times SDecidI
NEW YORK. Jan. s-With the advent
of the new year. distributors and retailers
are busy with the Formally of inven
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 7,OOO 900 900
passengers on average trips Of slightly
over five miles each, thus providing well
over 10000, 0oo, 900 passenger miles OF
crease of more than 5 per cent from the
preceding year, according to preliminary
estimates.
Activity in the textile industry dur
ing 1929 was somewhat higher, than
cotton by mills is estimated at approx
mately 1000, 900 bales, as against
$500, 900 bales in 1923. Consumption of
wool by domestic mills in 1929 was in
the neighbO-hood of 100000, 900 pounds
of grease wool as against $4,000, 600
pounds in 1928
Commercial transactions during the
week ended Dec. %. as measured by the
volume of checks presented to the banks
for payment, were less than in either the
preceding week or the corresponding period
of 1928. according to the weekly state
ment of the Department of Commerce.
Steel plants were operated on a lower
level than in the corresponding period OF
last year. Receipts of wheat, cotton and
hogs at the principal markets we're. 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 a year ago.
Expenditures by the electric railway in
dustry for EXTENSIONS, improvements and
maintenance will be considerably greater
ia 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 $375, 600, 900.
An average increase, OF approximately 10
per cent is indicated in expenditures for
new plant and equipment. including track,
cars and electric power