Rail Merger Plan Ready Amid Liquid Assets Concerns
The report notes a forthcoming rail merger plan as authorities cite abundant funds and frozen assets. Analysts expect a formal proposal soon, with focus on liquidity and strategic integration.
21 Dec 1929
Page 1
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Newspaper
The Montana Standard
Location
Butte, Montana, United States of America
Date
Dec 21, 1929
Page
1
The report notes a forthcoming rail merger plan as authorities cite abundant funds and frozen assets. Analysts expect a formal proposal soon, with focus on liquidity and strategic integration.
1929 report notes continued market decline as brokers loans fall to levels unseen since 1927. The shrinking "others" credit, not bank loans, drives contraction and raises questions about the sustainability of stock prices amid cheap money today.
Dow Jones reports the Interstate Commerce Commission has completed a plan that groups railroad properties into 19 major systems. Five eastern trunk lines include the Pennsylvania and New York Central with others. western systems combine Great Northern and Northern Pacific. several lines form key regional groups around St. Paul and unions.
Five people perish when an army plane crashes at Bollingfield including Representative William K. Raynor of Massachusetts. Raynor, en route to Springfield to surprise his family for Christmas, had asked for the flight. The accident also takes secretary Stanley Lowe and pilot Capt. Harry A. Dinger, leaving mourners and a shaken congressional circle.
A dense column of house for sale apartments to rent lost and found items and holiday gift suggestions highlights the classifieds. The page promises bargains and unusual offers across a variety of listings within the section.
Washington Dec 20 The Department of Agriculture reports a 2 percent national rise in winter wheat sowing this fall to 43 690 000 acres, with Montana listed at 768 000 acres. The December 1 crop condition stands at 86 percent of normal, compared with 84 4 last year and a ten year average of 84 6. Winter rye sowing reached 3 466 000 acres.
Business and professional men including doctors lawyers priests and newspapermen will man Salvation Army kettles in Butte for the Exchange club annual fund drive. Proceeds support Christmas activities for needy children as members receive instructions from a lassie in the foreground.
United States marshals staged three surprise raids in Butte’s business district confiscating and dumping over 1 000 gallons of whiskey and beer. Three men Roy Trent Joe Butler and Harry Clark were arrested on liquor possession and sale charges and released on 300 bonds.
Butte Joshers club, led by Chief Josher James T. Finlen, and a large corps of volunteers, packed and delivered 536 food boxes to needy families before 5 pm. Scouts, Legion members, and Modern Woodmen aided, with trucks supplied by area businesses and city and county agencies. Additional boxes remain to be sent today.
In Butte a jewelry store at 24 West Park Street was robbed of an outside show case contents early morning. Federal officers raided 28 South Main Street and 28 East Park Street shortly after the incident was logged.
Charles Adams admitted in district court that he robbed a soft drink parlor at 10 West Galena Street last July 29 taking $1,100 from the cash register while Scotty Woods the bartender was present. The jury found him guilty of highway robbery. sentencing to be set by Judge J. J. Lynch. Woods denied any robbery plot and testified Adams claimed Woods would pay him to participate. Adams argued the act was framed as part of a scheme.
Lieutenant Charles R. Carroll a Butte native and naval air service officer will fly a seaplane to California to fetch Santa Claus and a load of toys for the Los Angeles orphanage 917 Boyle avenue. The party will ride launches to the USS Colorado in San Pedro on Christmas morning as officers worry if Santa's beard endures the windy flight.
Crowds mob downtown stores for after dinner shopping, filling aisles and filling theaters after the shops close. Families with children join the bustling scene as merchants offer Christmas sales and decorations. Weather stays mild and does not dampen the holiday rush.
About 1.8 million goldfish aboard a Seattle‑bound train stopped in Butte for air while en route to New York. Incans and three Chinese attendants supervised the aquatic passengers as a special car supplied oxygen with pumps and tanks for the long trip.
Fog adds three names Clarinda Iowa December 20 seven persons six of them members of one family were killed when the Tarkio branch Burlington railway passenger train struck a truck on US highway No 71. The dead are F E Glass his wife baby and three young sons An unidentified man.
Three people were killed and five seriously injured when three cars rammed a stalled gasoline-less truck in dense fog on a California highway near Bakersfield. Victims include Mrs N L Osborne and Maxine Osborne. Dr Osborne and others among the injured.
More than 700 homeward bound passengers aboard the New York Central ferry West Point were saved after a coal float struck midship in the Hudson River. A large hole opened below the water line as tugs and ferries rushed to the scene and all passengers were transferred within 15 minutes.
Norman Moody William Daniels and Albert Thomas, three convicted men from Wolf Point, were found with a loaded revolver in a Butte city jail cell. Jailer William Taylor and a federal officer uncovered the weapon after a fellow prisoner alerted authorities about the plan to break jail.
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