davidaulloa/AmericanStories huggingface dataset:
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
SINGLE we'll
STARTED TO
BEAT RULING

Only one weIl was started this
week in Kevin-sunburst field to
save a government permit under
the ruling that ali expiring permits
(should terminate August / under
mandate OF the Secretary Of the
Interior.
The one well started was that on
the Barth permit which was vail
dated by Fred Munger. The permit,
belonging to Dr.. Barth OF Great
Falls. is one Of the oldest permits
In Kevin-sunburst field and 1t is as
yet without commercial production.
Fred Munger took over $50 acres.
located north Of the Waite farm,
and spudded a valuation well In
sw corner NEA NwA 1s-s5-2W.
After the we'll had been spudded.
II became known that a 3O-day ex-
tension had been granted on all ex-
piring permits.
One other well was started on per-
nit ground during the last week in
July. but this was on a permit
which already had one producing
well. II is the Coolidge 4 Coolidge
Government No. well. SW corner
NEA SEA 35-36-2W. now drilling
at 365. Otherwise there were no
other new operations on government
permits throughout the state OF
Montana. so far as Is known.
With the field marketing SO % OF
It's output, KeVin-Sunburst opera
tors were handicapped only by their |
inability to market new production. |
They are continuing TO drill, in !
enough additional production de- 4
veloped to Justify expansion OF the
refinery market.
Montana Pipeline Company began
taking sou Of the oil from all
leases on which It had connections,
during the week. following the lead
OF International Refining company
(Texaco) which had previously
posted a price Of $3.50 per barrel
and started taking 50% OF the pro-
duction from all leases on which
II nhu CONNECTIONS. AAtn t0AL pro-
ulcers with Montana Pipeline con-
iectIons without an equal market.
Accordingly this latter company
agreed to take approximately one
bird OF ali storage oil and sou
II the potential production OF each
ease served by It's lines.
This was done. according to man.
ger Naylor, to help Independent
Iperators and TO demonstrate that
he industry can care for It's own !
Iroblems by cooperative action. {
faple Leaf Refinery nc COutts.
rhich Montana Pipeline serves, 10 :
eported expanding it's operations 9
o capacity this week for the first !
Ime during the present year
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
BOW-ArrOw
Wildcat Has
Flow Of Gas

A flow OF gas estimated at 5.000,-
600 cubic feet per day was encoun-
tered this week at the Kyle-Clark
test on Bow & Arrow structure.
east Of the sweetgrass Hills. Lo-
cation is SWH SEA 24-37-1E. The
gas was found in a sand from 1915
TO 1895. Eight-inch pipe Is being
run with a braidenhead 70 save the
gas. A former well on this structure
struck q fault and had no gas. Bow
& Arrow Ia a monOcline against a
big fault west OF West Butte and
is one OF the Hills structures ap-
proved by Ralph Arnold. Los An
geles geologist. The present well
was spotted by G. G. Howard. dis
coverer of Flat Coulee and other
Hills structures
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
90 PIII II i
IN CUT BANK
TWO IN week

Completion Of but two wells and
starting OF only two new ones mark
ed a slowing tempo in Cut Bank
field this week. There are twenty
active wells and eight rigs up or
locations.
Texas company completed a well
which pumped IS barrels during
the first 16 hours on the Marie
Yunck farm. No. location SEA
SWA 14-33-6W, July %. Total
depth is 1854 feet. The well flowed
when completed and is rated at 100
barrels. 1t Is the Cardwell pool
in the extreme north end OF the
field
Consolidated Gas-Tribal No. 8,
SWA NEA 1O-34-6W, looks like a
small we'll. 1t found oil at 1886 and
was drilling deeper when tools we're
lost at 1895
Anderson-Anderson No. 2, SEA
NWA 26-35-6W, is reported COM
plotting at 1870.
Askins Town Lot Wen is cement
ing from 1890 to 144O to sidetrack
lost pipe.
Consolidated Gas-state No. 2
NWA SEA 2s-35-sw. drilling at
$3.50.
Consolidated Gas-TribaI No. a.
NwA NEK 1O-s4-sw. drilling at
27e5.
Custer-Tweedy No. 2, NwH NEH
36-53-6W. drilling. 1850
Goodstein-smEth-O Olson No. I,
NEA SEX 2s-S4-ew. drilling, $3.50
Grant-Bakke No. 4, NWK NEA
32-34-5W, drilling 2s0o.
Observation-Disclosures No. 4 SEX
sWA s-s3-5W. drilling z87O.
Montana POwer-CHawer Unit
(gas) NwA NWA 77-Ss-Sw, 1875.
Montana POwer-C 0bmxm No,
Sen swA 5-ss-sw. dTlIlfng 2s5.
Santa Rtta-Savage Nc. 4 NWA
;Wh 9-33-SW, drilling. 27se.
Santa Rita-SsahI No. 1 NwA
5EA 2O-ss-5Ws drilling 1895.
Santa Rita-TrEbal No. s. sWA
gWA 15-35~6W, cemensed 2870.
OBSERVATION-DISCLOSURES NO. 1 NWH
gE Y 1S-s4-eW. abandoned, z8O5.
Texaco-Morgan No. I NEN NwA
3-53-5W, drilling IN, 5000.
Texaco Peterson No. SWH
TwA 23-36-5W (gas) rigging up
Texaeo-Snaall No. 2 NWH NEA
s-s5-6W, drilling s74.
Texaco- TweedyNo. 4 MEH NEK
1-36-6W. drilling 1875.
Wats0n~Brftb0m No. 4 SCI SEN
4-S4-6W, drilling 41e.
Jeffrfes-Lukens No. EWA SEA
1-35-6W. drilling zoe. Location rs
so feet north Of the south line and
$40 feet west Of the east line.
Hannah-state NO. 2 % feet west
I the east line and 1853 feet south
! the north line. Sec. 12-33-5W,
& up.
The latter two are town lot wells,
arted this week.
Texas companya wildcat north OF
alier, Vail No. SWM sWA 8 c
l0-bW. IA drilling AZ ease.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03

Reports from Washington say that
there is widespread opposition to q
provision of the amended measure
which removes the limit of 1850
acres formerly allowed any one COM
pany. Under the new Ickes meas
ure. major companies will be able
to control most OF the federal do
main, provided they place their per-
mits in unit operation. Heretofore II
has been the policy OF the govern
ment to prevent monopoly.
Under the new measure future
permits and those filed within the
last 80 days prior TO enactment OF
sMe measure. will be issued as ieas-
eb carrying S7h 20 OF the oil. Here
tofore the government offered, as
an inducement to prospectors, to ac-
cept SO royalty on one-fourth OF
each permit. The new leases will
carry an annual rental of 20 cents
per acre.
Outstanding permits will be pro-
tected", according to Washington
adyices, but the discretion of secre-
tary Ickes will determine the meth
cd OF protection for the most part.
Permits which have run for IL years
or more without production and
which have not been placed in
unit plan Of operation are the ones
which are in greatest jeopardy.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03

The retail price OF gasoline In
so representative cities averaged
1873 cents gallon on July /, and
the average gasoline tar was 5.32
cents. The price Of gasoline ten
years ago was As per cent higher
than It Is today, while the amount
Of the average tar was only two
fifths as high.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
LEASING CLEAR CREEK

CHTNOOK-Hopes OF further
drilling for OIL in this area are re-
vived BY the rsturn Of r. u. O'Keefe
former Chinook attorney, who Is
taking leases along Clear Creek.
southwest OF Chinook. Ohio on
company drilled a well in this area
but found no oil at $500 feet in
1921. O'Keefe is here on vacation
and hopes to interest someone else
in the area IN the belief that the
Ohio drilled in a fault. O'Keefe
figured in some OF the affairs OF
early Kevin-sunburst field, and
from that beginning became in
terested IN oil in California.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
1900 Feet Fluid
Flat COuIee Well

The Flat Coulee well drilled by
the J. H. Hamilton company will
have to pull 6-inch casing TO repair
damage done when the tubing was
dropped.
Fluid now stands at around 1909
feet. following a 'shot" OF acid.
The well has never been pumped off
since the acid was applied, q series
OF accidents having made impossible
an adequate test.
Location is NEH sWH 1O-37-bE.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
REAL As1ER1cANs woRKINo

MISsOULA-Anyone who wants
10 see real America" should go into
hills OF Montana and see the men,
women and children. who refuse to
go on relief rolls, who are wrestling
q livelihood from the gravels OF
mountain streams. Forestry officials
estimate there are 5000 people
placer mining in the Bitter R0ot
mountains alone. Some are making
from IS TO $40 per day. Others are
making from $50 TO So per day.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03

CONRAD-The boys at the Tex
aco service station last week saw
a weary pedestrian transient walk
up TO one of their pumps and with
deiiberateness put the pump nozzle
20 his lips and pulling the lever.
take healthy swing. hang up the
nozzle, wipe of Is mouth and sigh
Justify and walk on down the street.
Whether he mistook the hose for
water hose, ore whether he had a
cast iron throat and stomach they
have yet 20 determine.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
WhitIash Well
Awaiting Tools

A. w. Paterson, Whitlash oper-
atOr, is waiting for completion OF
the Devon well to get his rig TO
proceed with his No. well. SwH
NWA 15-37-4W.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
Tom Young Won His 40 Acres
OF Oil Land In A Poker Game

HOLLYWOOD, Calif-It looks like that 4O-acre
tract of land some place in Montana that Tom Young
won in poker game IL years ago will amount to some
thing
Today Young chief of a studio police department,
was notified that 3OObarrel day oil well had been
brought in on his land His formerly worthless property
district
For the II years he has owned it Young rented the
ranch to sheepherder for 81 year The income just
paid the taxes.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
Devon Wildcat
Drilling Again

Frazier-Kluth wildcat southeast
OF the Hills, near Devon, is drilling
again, after running casing ct 1903
Depth Thursday was 1850 feet. Lo-
cation is SEA NEA 2O-32-2E.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03
A THING or BFAUTY

"You cant persuade me that an
oil derrick Is unsightly", said Gov
ernoT Mariand OF Oklahoma when a
derrick was erected Just four blocks
from the state executives mansion.
cts the street ear that keeps me
awake az night. not oil derricksr
ne added.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03

The California on Control bill
which It's foes said would have
given the Standard control OF Hunt
ington beach oil field. was killed BY
pocket veto when Governor Mer-
RAM refused to sign H.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1935-08-03

Hills atructures
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23
Other Livestock
(By United Press

oo CHICAGO. Oct 3.1-Hogs-Receipts, 49,
erage; early bulk 1sO-250 lbs, So $50
10 Is; top s1o.l5; some held higher; 26O-2so
1890; few $40; bulk sows, s875G9: best
S925. Cattle-Receipts. 1000; calves.
1000; undertone good and choice fed steers
~ y, cents or more lower; supply such kinds
lings carry better undertone than weiehty
steers. latter kinds predominating in run;
light steers: all heifers fully steady; cut
ter cows firm; beef COWS steady: culls and
Vealers Weark stockerS and feeders get
ting fairly broad clearance at Is to SO
~ S623m6. Sheep-Receipts. IA 900: fat
lambs slow and uneven: bulk fully 25 cents
lower; some sales so cents and more UNI
ger Tuesdays extreme; natives sS,7509;
best held higher; no strictly choice west
ems here: countrymen competing for half
fat comeback at upward to 1925. Sheep
feeding lambs firm; better kinds s9d935.
BY Times Special
5od' sang t1eE OGi
mand dependable for all slaughter classes:
market moderately active. fully steady:
steers and heifers. s5@725: better finished
oferinds salable $50 10 around SO. bulk
grassy beef cows; s4@5: practical top $3.50;
30; sausage bulls quotable generally san
D ASKING s525 for best heavies stocker
and feeder trade generally steady; most
light beef type stockers and stock calves.
Sc 5o1s.5o: bulk native feeding steers IS so
also Calves-Receipts 225: vealers
mostly SOC lower bulk good 10 choice
grades. S6.500950. medium and lower
grades, So down to around $3.50. Hogs
Receipts. 500 market steady. TOP and
bulk better lS0-240 lbs. So 90 245-295 lbs.
SO 40: 300 lbs up. SO: le0-175 los. SO 40:
l4o-l55 lbs SIS: 12o-135 lbs. SO so: sows,
81 IS. Sheep-Receipts 200. lambs in verv
light supply: demand easier market weak
70 mostly 25c lower on better grades: most
eligible 10 $3.50 or better: palmer grades.
including bucks. mostly s5.50N725. light
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23

rowing program which has been &C
companied by the successful con-
version of the last of the wartime
borrowing into lower interest
securities at savings of S125, 900 900
annually in interest charges.
Ever since Mr.. Morgenthau en-
barked for Spain, Portugal and
France on Sept. IA, there have been
growing signs that the government S
easy money" program at last was
finding it's way into business and
promoting bullish prospects in the
security markets.
Administration officials are not
concerned at this time over pos
sibilities of the boom getting out
of hand, but they are turning more
and more to this problem.
Such recent developments as a
rise in American gold stocks to an
other all-time record high, an in
crease in excess reserves of Federal
Reserve Banks to nearly $3,000,000,-
600 and heavy government borrow
ingS, it is felt, have laid the ground
work for huge credit expansion.
Power to arrest boom is believed
to rest entirely with the Treasury
and the Federal Reserve Board,
which was given broad new credit
control powers by the last Congress.
Whether these two agencies could
cooperate in control program is
a matter of conjecture.
Meanwhile, Treasury figures
showed the governments financing
problems virtually are over for the
time being, despite heavy expendi-
lures planned in the future. The
Treasury now has $3.50, 900, 900
pocket money in its general fund
and will need to borrow $1,297O54,-
I'll additional new money between
now and June 30, 1886.
In addition, there are 1920 PAS, 900
of maturing obligations that must
be refunded into other securities
during the period.
Thus, the total financing pros
poets over the next eight months
aggregate less than $4,750,OO0, 900, a
relatively Insignificant hurdle COM
pared with recent borrowing oper-
atoms.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23
ALL LIVESTOCK
CLASSES WEAK
Prices Drop IS to rs Cents
in Porker Market;
Lambs Down.

Downward trend in swine prices
continued this morning at the city
yards, prices dropping IS cents on
most heavy classes and Is cents on
underweights.
Hogs weighing 100 to 235 pounds
sold for $1,000 to S1O.15; top 5000;
235 to 300 pounds, $3.50 to 1895;
800 pounds up $3.50 to 1910; 100 to
100 pounds $3.50 to $1,000; 100 to 100
pounds $875 to $9.25. Packing
sows brought $3.50 to 1925.
Porker receipts were 5000; hold
overs 121.
In the cattle market best grade
steers were steady, others weak.
Two loads of 1866 pound steers
brought $1,000. On load of yearlings
reached SLOTS late She stock was
little changed, some heifers selling
for S5.25 to $3.50. Better kinds were
available above SO. Beef cows
brought $425 to $3.50. with a prac-
tical top price of Sc. Low cutters
and cutters sold for So 90 to 81. Bulls
went at a scale of $3.50 to lower.
Steers held $100 lower, good and
choice bringing $3.50 to $40.
Cattle receipts were 900; calves,
60O
Lambs dropped so cents during
the days trade, Bulk of better
grade eve and wethers sold for
1925 to 5000, odd head bringing
1925. Bucks sold at a discount of
so cents to S100 Slaughter sheep
made the market at $500 to $500.
Receipts we're 5000
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23
BANKS IN CHICAGO
TO PARE INTEREST
Slash From 2 to | IL Per
Cent Effective Jan. !.
by Abbott, Proctor & Paine


By Times Special
CHICAGO, Oct. 23.-Efective Jan.
/, principal commercial banks in
this city will pay IL per cent in
terest on savings deposits as con-
trasted with the present figure of 2
per cent. 1t is expected that banks
generally throughout the state will
follow the lead of the local institu-
lions.
The reduction has been antici-
pated for some time, but was de-
layed because some bankers thought,
or hoped, that a reversal of condi-
tons would enable them to earn
more on their investments. The
slash, therefore, indicates that bank
ars expect the current cheap money
era to continue for some time.
The present rate of 2 per cent
has been in effect since June 80,
1884, when a slash from 215 per cent
was made. Prior to Dec. l, 1882. de-
positors received per cent for sew
eral years,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23

! its peace years, has not been able to
! pay government charges plus 80
per cent on a debt of lot billion lire,
one may we'll guess what the effect
will be of increasing both the gov
ernment's expenses by war measures
and its interest bill
In the meantime gold is flowing
out of the country. About this time
last year the Bank of Italy had
/ S554,O0O, 900 of gold. Now it is bare
ly over $370,000,O00.
What is to be the effect, first upon
Europe and then upon us, of all
| these vast Warlike preparations. One
hears with amazement of England's
plans to expand her ornaments;
that munitions plants there are run
ming full time. But what will Eng
land use for money to build this
great army and navy she dreams of
to make herself completely indie
pendent in the Mediterranean?
The money can be raised only by
taxation or borrowing, England has
the most oppressive debt in the
world-about 2OO0,oOOOO two and
half times ours in proportion. Her
citizens groan under the most eX-
! tenSive taxation in the world How
far will they submit to further taxa
ton? How much bigger can a ma
ton which only three years ago had
to repudiate $4,000. 100000 of her ex-
ternal debt to us swell her present
bonded Indebtedness?
The same is true of all these
! countries. Germany is said to be
humming with fictitious prosperity
from her war preparations. I'm
doubtedly we shall hear the same
from France soon as from England.
How far can these nations 60 in
this mad career Of super armament
before the morale of their popula-
| lions cracks under it? Surely they
can not keep it up forever. 1t must
come to an end for sheer lack of
credit and funds.
And TIM there must be the in
evltable reaction. 1t is quite pos
slole that the radical groups in
Europe sit about idle now, feeling
that the conservative leaders are do
ing their work for them.
Copyright 1885, NEA Service. Incl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23
On Commission ROlU

Quotations below subject to change are
average wholesale prices being offered to
buyers by local commission dealers:
FRUIT-Cranberries, early blacks, 2s-lb.
box; $685.. Pears-Michigan Bartletts
hushel S2,25; Ayocados, Florida: box s2.25,
Cantaloupes California Honey DewS 50 so;
Casabas 50 IS; Persians, S2d2.25. Bananas
- hands. a pound, SIS. Grapes Michigan,
l2-qt. basket, 35c. PerSimmons, Indiana,
l2-pt, case 81. - Apples ! Indiana indiana
81 Delicious, S1.5OaI IS; Wealthys, ST.
UsunEis., ssos, $50. 4s2s 81. Grape aFas9
fruit Gas TO 70S. $3.50 Limes-MeXican
carton l2s, zoe; Persian secdless a
hundred. SO.
vegctabes-Beans, green round string
less bu., 50 so. Beets- Home grown, dos
Csc. Carrots--Home grown and Ohio, soc;
new bulk. half bu. Csc Cauliflower-Colo-
RADIO. lis. l2s, crate. Sl.90 Celery-Michi-
gan. washed and trimmed, jumbo doz..
Kale-H Home grown, bu., soc Lettuce
Iceberg. California, best, S375: home
growa leaf. l5-lb. basket, soc EndIve--
Ohio. basket, 45c Mangoes-home grown.
bu.. 81 so; small basket, 4Oc. Mint-Doz
Onions-Indians yellow, 50-lb. bag. 90c;
Indiana white. 50-lb bag, 81; Utah Span
iSh, 50-lb. bag, 40. ParSley-Home grown.
dog. 35c. PeaS-Telephone, hampers, So
.@3,75 Potatoess..New jersey Cobbers, 100
ID. bag. 81 so; Michigan Round White 100
Idaho RuSSets, 81 90 Sweet potatoes-In-
diana, Jerseys, bus. Sl.40. Radishes-Ohio,
buttons 2-doz. baskets. Soc Sage-Doz.
ssc spinach-New Zealand. bu.. 65e
bunch. doz., soc. Tomatoes-California
repacked, l0-lb carton, Sl25. Doz 60c
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23
HARDWARE TRADE GOOD
Outlook Is Bright for Industry,
Trade Publicat ton Says.
By Times Special

~ tWtS CptClUG
NEW YORK, Oct. 23.-The hard
ware industry is confident that it
can maintain its present steady
progress out of the depression, and
further, that some of it's branches
are already approaching normal"
the Hardware Age declared today.
Theer is a fine demand for TOYS
from hardware stores, and many
first orders indicate increased inter-
est in this line Orders for sleds and
ice skates are earlier and larger
than for many years. There was
little or no carry over last winter.
and a lot Of shortage in midseason.
Wheeled toys, wagons and veloci-
pedes, are selling right along, and
the better-than-normal outdoor de-
mand seems likely to merge. with
out interruption, into a large holi-
day volume.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23
THAT BIG If
~ United Press

By Jnifcd Press
CHICAGO. Oct. 23.-Thir-
teen members of a S54l0 wheat
pool today had to console
themselves with the thought
that they would have tripled
their money-if-
The if is a big one and
there is little consolation there
for the Is spectators, so they
went to the police to complain.
The Is were visited several
months ago by man giving
the name of George Benjamin.
He explained that he was a
customers man for a broker
age house. He forecast a rise
IN the wheat market. His
reasoning sounded logical, SO
the Is friends decided to form
a pol to let Benjamin manage.
They gathered S54l0, and
turned it over.
The market did go up
enough to triple their original
capital. Then the Is demanded
their money. But Mr.. Ben
jamin disappeared. and police
are hunting him today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23
Other livestock
BY United Press

FORT WAYNE. Ind. Oct 23-Hogs-lo
lbs. s9.65;- 2oo-220 lbs. s9.55: 22o-240 lbs,
9:4o; 24o-28o lbs, 50. rs; 2S0-3oO lbs. So Is;
3o0-350 lbs. sa.95: 150-160 lbs. s975 l40-
lbs SO; 110-i20 lbs. ss75: i00-1I0 lbs.
SO SO; roughs. ss.25; stays, $3.50 Calves
10; lambs, s75.
CLEVELAND. Oct. observation-disclosures.
205; steady: choice TO prime steers. 1850
lbs. and up. sllgl2.25: choice 75o-l1O0 lbs.
sloH ii so; good grass cattle. s7m350.
Calves-Receipts 800; steady: prime veals.
slo.5oM II so; choice. se.5OM10.50 Sheep
Choice h aR6s g I5o9 ss9 0 Heg
Receipts 100: 10000 lower: 250-301
lbs. 80 50m1o: 22o-250 lbs 3l0l5; 1920
lbs. $40 IS; l5j-l9o lbs. 7i0.l5; pigs. l50-
100 lbs, 09.501lo
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23
DECENTRALIZATION AIM
OF FAIRBANKS, MORSE
Plan Designed to Meet Preferred
Stock Accommodations.

L tHts SDtCtUt
CHICAGO, Oct. 23.-A recapital-
ization program aimed TO clear up
dividend accumulations on the 7
per cent preferred stock was an
nounced by Fairbanks, Morse & Co.
today.
Holders of the outstanding pre-
ferred stock are offered one share
of new 6 per cent cumulative con-
vertible preferred, one common
share and 50 in cash for each
share now held. The new preferred
is convertible into three common
shares up to Feb %, 1887; 215
shares to Feb. %. 1929, and two
shares to Feb. %, 1941.
Despite a $3.50 dividend on July
Is. dividend arrearages at the end
Of the current year will amount to
approximately s25 share on the
present preferred stock.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-23
BusigrabhS

Activity on the New York Stock
Exchange has increased materially.
Third quarter vOlL ne was more
than double that of the correspond
ing 1894 period. The pressure of
idle money. with the resulting low
interest rate on high grade bonds,
has turned many investors to the
stock market.