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Newspaper
Indianapolis Times
Location
Indianapolis, Indiana, United States of America
Date
Oct 29, 1929
Page
7
Paris markets opened lower as selling resumed on American stocks with Bank of France down 1000 francs and Royal Dutch off 3900 francs. A late rally helped by news that Socialists refused to join the new government left rubbers weak at about 20 percent drop and French bonds steadied after heavy amortization spending.
Berlin markets suffered another setback as trading fell on Monday and Tuesday. Stocks dropped up to ten percent as the Deutsche Allgemeine Zeitung blamed weak political conditions and weak international mood. Montreal trading showed feverish activity with heavy early selling in Brazilian and Nickel shares.
Stockholm stock market suffers a sharp decline with industrial shares dropping. Sweden’s Swedish Match Trust led by Ivar Kreuger falls 10 to 21 points while Kreuger debentures slide 43 points as New York and London markets slump.
Limited Pren at London reports a day of pressure on the stock exchange with declines across key issues. International Nickel slipped from 44% to 35% while Brazilian Traction moved from 58 yesterday to 47 today. Hydro electric shares fell to 471s from 53, and Columbia Graphophone closed at 5% versus 613-16 previously.
The report shows the average of twenty industrials at 267.64 and 38.33 for rails. Forty bonds average at 93.68, down 0.03.
Indianapolis shows clearings 67,000 with debits 7,618,000. Chicago reports 600, balances 18,600,000. New York totals bank clearings 2,838,000,000 with clearing house balance 377,000,000 and Fed credit balance 229,000,000. Treasury notes Oct 26 net balance 216,428,452.70 and month receipts 49,802,097.39.
In New York on October 29 the market showed more encouragement as a banking coalition signs on for stabilization. Investors and investment funds are expected to enter, with liquidations likely at the open. Experts say the market will remain weaker for some time, urging holders of questionable securities to liquidate and keep liquified accounts ready for opportunities.
New York October 29 cotton prices slid over a dollar from the previous session in the most active trading of the year on the New York cotton exchange. Persistent liquidation pushed December and May to new season lows while buying remained broad with brokers absorbing large blocks from the south and spot houses.
Several couples are named in a local marriage license listing. Ernest Mayer, 25, carpenter of 437 North Temple, weds Annie Walz, 23, of 437 Temple. Additional pairs include William Rutderheide, 35, RR4 Box 33 Aer, and Cjera C. Were bere, 36, RR4 Box 636, plus Pergusorm, 21, of 328 Orsage, and Gladys L. Nichols, 20, of 31 Raymond. Edyth Baker appears with an address at 1830 North Fees es.
List of vegetables and fruits with unit prices and origin notes. Includes beans, beets, carrots, cabbage, celery, cauliflower, corn, cucumbers, ereviant, kale, lettuce, mustard, onions, parsley, peas, peppers, potatoes, radishes with states such as Michigan California Indiana Colorado Wisconsin Minnesota and Idaho. Prices range from 30c to $4.95 per unit and per bag or crate.
The market fell sharply with the Dow at 5614 down 8 percent as many blue chips declined including Steel 177, American Telephone 2121/4, General Electric 2151/4, Westinghouse 111, Sears Roebuck 95, and General Foods 35. Banks tried to calm traders with loan and commission measures while Fed officials met with Mellon Hoover.
Bishop A V W Darling ton of United Brethren warns Rotarianism often governs religious activity and urges prayer as the church’s vital life. The Indiana convention met at First United Brethren Church Park Avenue and Walnut Street with talks by A H Godard Indianapolis Y M C A secretary and a tonight lecture by Rev W R Funk D D.
Irene Bordoni musical comedy star seeks annulment of marriage to E Raoy Goetz Broadway producer. The petition filed in Chicago will be heard this week to stall a divorce suit already filed in New York.
The 6 million estate of Chauncey Keep, Chicago capitalist and social leader, filed an inventory revealing a loss of 666,192 in the recent stock market collapse after his death last August.
Columbus Indiana election board orders 7200 official ballots and 120 samples for November 5. Mayor candidates are H Karl Volland Democrat and Clyde Thomas Republican.
Hog market at Union Stockyards eased by 15 cents from Monday. Bulk hogs 160 to 300 pounds sold around 9.50 with some choice butchers at 9.65. Underweights and pigs mostly steady 8.75 to 9.40. Receipts about 5 600. holdovers 366. Cattle steady, wealers 15.50. sheep and lambs steady with good lambs 12 to 13, others 11.50. Chicago hogs 29009 with 5000 directs, steady near 9.30 to 9.40 for 190 to 260 pounds.
Hogs receipts 29 000 with direct sales 5 000 steady to 10c lower later trade steady top 9.50. cattle receipts 9 000 with uneven, steady to mixed pricing. calves 2 000 mixed, best fed steers around 16, yearlings in broad deals. sheep 15 000 steady to strong with native lambs 12.50 12.75 and fat ewes 4.50 5.50. Louisville hogs 100 trades 30c lower with 9.30 9.50 ranges. cattle steady to higher with good cows 6.50 8.45. sheep steady. Pittsburgh hogs 600 receipts, 9.09 9.50. cattle steady, vealers 15 17. sheep 13.50 14.50. East Buffalo hogs 300 receipts, 9.45 9.75. cattle 17 down. sheep 13.0 13.50.
Omer Brown of Kokomo ex-sheriff and former Howard County Republican chairman filed a petition for rehearing in appellate court today. He faces a thirty day jail term and a $25 fine for alleged operation of a slot machine. The Howard County sentence was upheld by the Howard Circuit Court.
The week ended Oct 26 saw the fifty most active stocks on the Chicago Stock Exchange total market value at close of business reach 3.57 billion dollars, down from 4.72 billion the prior week. New York Life paid over 130 million to living policyholders and beneficiaries in the first nine months, including 44 million to beneficiaries of 10,097 deceased policyholders. Petroleum Corporation of America valued its book liquidation at 31 per share. Columbia River Longview Bridge nearing 45 percent completion with steelwork advancing on both riverbanks. Universal Products Co reports nine months net earnings of 424,170 after tax, 4.38 per share. Perfect Circle Company nine months net income 761,084 or 4.68 per share, with gains expected in Q4. Bank clearings across leading U S cities total 14.825.556,000, up 5.6 percent from last year, led by New York gains. Iron and steel mills push into electrical equipment demand as market shows upgrade signals for next 30 to 60 days.
Market prices listed for poultry and dairy items, including hens and toms by weight, ducks geese and guineas, beef and butterfat, and New York commodity quotes for flour pork lard tallow and cheese. Notable figures from Kingan Co and regional breakdowns for Indianapolis and New York markets.
Alexander Pantages plans to subpoena seven women and five men from the jury that convic ted him of attacking Eunice Pringle to show irregularities in deliberations. He will file a motion for a new trial before Judge Charles Fricke on Friday. Deputy Hazel Brown reportedly helped re create the jury room events.
New York October 29 trading saw the biggest half hour in history on the Stock Exchange with 3,259,800 shares traded and total sales up to 5,000 to 80,000 shares. The curb market was active with a 117,000 share Cities Service sale at 245% off 27. Large opening sales included Allegheny Corp Motors and others, reflecting a heated session.
Wheat prices fell sharply as the board of trade opened amid stock market weakness and farm board support. Corn and oats followed lower on wheat weakness, with provisions weak and weather and storage concerns delaying the new crop's movement.
A local births list records many newborns to families at Methodist and Coleman hospitals. Notable entries include girls born to Goldman at Methodist hospital and twins to Goldman also at Methodist hospital, with other families listed at Coleman and nearby addresses.
A list of deaths includes Mildred Fryman aged 5 months from ileocolitis at Eas. Forty-sixth. Robert Randall age 48 5834 East Washington with cerebral hemorrhage. Clifford Geisel 24 of North Boston chronic tuberculosis. James Chadwell 30 at Methodist hospital chronic sinocere. John Brummett 45 Park chronic encephalitis. Letitia Armstrong 72 at Christian hospital accidental. Benjamin Craig 83 Alton arteriosclerosis. Bessie Crawford 36 at city hospital carcinoma. George Burkher 73 city hospital accidental. Morrow 40 Morton gastroenteritis. Homer Smitha 54 Cornelius reinoma. Edward Shumaker 62 Broadway carcinoma. Buford Anderson 27 West St Clair tuberculosis. Bear Brooks 62 city hospital arteriosclerosis. Wanda Henry two days 1214 West Tumty-fifth atelectasis. Aaron Bright 24 North Arsenal. John Velodin 72 Methodist hospital angina pectoris. infant Ramsey 1 day city hospital broncho pneumonia. Warren Clements 1 month St Vincent's hospital broncho pneumonia.
The first child’s letter to Santa Claus for this year arrived at the postoffice signed Ida May. Postmaster Robert H. Bryson said it would be sent to the Christmas clearing house for the mail rush. The girl asked for a table and chairs a doll and doll house a cradle for her doll and furniture a big kitchen cabinet ten picture books a toy piano and a small stove.
De Pauw University president Dr G Bromley Oxham will speak at a Kiwanis Club luncheon. William Telfer a graduate of Oxford will speak at a Phi Kappa Psi dinner. L S Ayres annual employee event featured dancing vaudeville and refreshments. Sydney Sullivan led the Industrial Economics Club address on human factor in industry. Printers week shows at Central Library with fifty books. Indianapolis Typothetae discussed plans. Ray E Marley filed a voluntary bankruptcy in federal court showing nine thousand six hundred forty four dollars assets and thirty six thousand two hundred thirty two dollars liabilities. Indianapolis Life Insurance Company employees held a second annual Halloween party with prizes for costumes. Jesse B Armstrong filed a voluntary bankruptcy in federal court listing twenty eight thousand four hundred eighty three dollars liabilities and thirteen thousand two hundred ninety eight dollars assets.
Washington reports that speculative futures have driven wheat prices out of line with other markets. Europe and Argentina reap cheaper supplies while North America stores a record 400 million bushels. US exports fell in September but demand season nears, with a federal plan to supply 100 million dollars to help farmers hold grain for higher prices.
Chicago hosts the International Livestock exposition from November 30 to December 7 at the stockyards. Entries for livestock close November 1 and grain and hay show entries November 10, with carload fat cattle contests limited to November 23. Strong horse show expected as top breeders prepare to exhibit.
A column extols Konjola as a health restorer after long illness and notes the Konjola Man at Hook Dependable Drug Store located at Ili nois and Washington streets in Indianapolis. The piece highlights the relief provided by the medicine and the store's role in the community.
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