Evening Star Newspaper, August 20, 1929, Page 11

100% 1 s 1 17 7 100 D 858 & ‘:3 t": - 1 Iva'i' I:{l:} 3. Rig ov 5 pr pf %d 3 o i Aero" Indust . ki\euln‘i' s 100 1 101 1Aero Sup 4 9% o9k 114% 24 84 MEMEINEI == == sy P BT B C) & o 26 Pl | Zonite .. BEE 4 falen in MINING BTOCKS. undreds. 'Ig riz Globe C. unke 4 Sons Go n Am In 26! 1 Cortes n Am Inv pfd, 110 1Cre: Public Utilities, Investment usts and Aircraft Is- sues Are Featured. i, 2 BT o, § Jonesk Natmi. o0 Pr pfd. 9 Kolster- 8§ Qurtias Alrport via .. 1 Lake 5*“;:?%' tiss Fly Serv .00 2 und & 1Curtiss Re Alr 21 rtiss- Wrl o1 Qurtias-Wrisht A rtiss-Wrigl Inc e 28! 3! nggsg_g z;z_ Bpecipl Dispateh to The Star. NEW YORK, August 20.—A broad buying movement was in evidence on 2 4 the Curb Exchange today with various A g ;:’L: issues selling at new high prices, the 3 e movement being in sympathy with the P Am gom h trend on the big board. The fact that money renewed at 7 per cent helped sentiment. Public utilities agaln came in for considerable attention and electric bond and share sold at & brand new peak ‘The rights on this stock will soon expire, Other strong issues of this group included Duke Power, American Superpower and United Light “A"” the latter being influenced by the recent optimistic remarks of the company’s president. United Gas improvement swung into the up trend, as did Amer- ican Light and a score of others. d Rmno. Investment Trusts. 14 Arcturus _Badle Investment trust issues met with good buying, Mayfair and National Investors entering new high territory. Trading was expected to start today in Blue A Eleo Ridge Corporation but up to noon none | 138 4338 (i, took place. In the over-the-counter Frosipian i market, however, the stock jumped from the price at which it was offered—20— 25 at one time. The preferred also was higher., Tri-Continental and Trans- 3 Aviation America held well. Goldman Sachs was 3 Bellanca higher at times. | 3Bicktord Inc Allis-Chalmers “when issued” shares DR established themselves in new _high lBl)us ESlW ground at 80, and Anchor Post Fence 3 Biyan _Shos and Budd Manufacturing also sold at their best prices of the year. Oils were not as active as last week, but the placing of large buying orders in Humble Oil sent that stock to a new altitude and 4 points above the previous close around noon. Gulf ©Oil, the recent leader, held around yester- day's final price. %ox Theaters was quiet, although it Nias s is snudmmat“flpe&nm develup:i}e‘fitg P Py 3 4 | ,Ng;";mfl'ivl are pen within the company Wl Cables & e Sa y m-ypzeul? for & closer alliance with Fox Wi B H ) $ Ron. s Avists E A i Ffotors were neglected, with Stuts| 1§, Ao L e e h Thater Ea 3 i Ror 8ia P selling near 13. If reports are correct QA pld..l 6 ; 3 e is company will bring out a new . > h .‘sz R Diosel engine. It s alio| 3 Couri reach . i Seal e g™ pe § Quibosrd Motors stated that John J. Raskob, former| 3Ceian C Am 1 pid.. 81 hit i, ol | TRl e X chafrman of General Motors' finance 3 Gent Pip 2 t d committee, and a prominent banking firm will acquire an interest in Stutz. Aircraft Issues. 11 Ce BT illtlon' ia 912‘« Some of the aircraft issues were t E conv ptd n 2037 active with }l;)eu-ou Aircraft z?dhl)ly- :gm‘l[dss}‘-u El dn(d ww. g:, ton . Air both reaching new highs. 23 Cities Ser n. International Cigar & Machinery, 2gitles Ser pid, whi¢h spurted about 15 points on Mon- gcm-s er B pl day, met with };rom-takmg. Earnings 1 2 1 1 2 1 3 e c, 31 ¥ loct xnsnxn"c"uiz" Srd g 1 locted Ind Ine nid, 23% try Safety Control 207 ek T o oSS R s i a s ase 2 31 i3S s ‘om & Pr Bk 5%s ‘31 1Danish Cons 55 '53.. 2 Danzig Port s 7d 7 Elec Pe o 2BEBo0ePnRRB 88388 D Cvi |} andoan (iol' o D eyl Corp Co :? 3 T Pen. d ur 23343t -EE su3tEsEe e 5 conr 3 o CIES BST2sE2, SEE mons B c @ sto Financiers Corp 56'% imith Co (A O). 24514 Sonatron, 47, 3 3 5 w o ww 52 84 8Gen Ind Alc el Gen Rayon 6; 13 Gen Thesters Guee 'k Pla 65 eors Good' T T LBenasse® IS . Sgeaw 2 Pow Asso . R aVE u 3 ec Bharenold v & b » 00 | DNew: Jeaeld pid .. o 1ot ‘4 Monsanto Chem K i 28tein & Co. ’ 5t e 8 00 ol SeSTin warriate: § Montecat dép (T h : GRAIN MARKET. CHICAGO, August 20 (#).—Wheat underwent a severe tumble in price today, dropping to nearly 8 cents a ro Eni A. 2 9'z B Thermol an Il " 1 Inte bushel under yesterday's top level, but it ! s 'S o 1ThId Naw' Gy 80 . Mount Pr B2 16 Invest. Corp Am_ s7d. 12 rallied at the last. Despite denials todey - 6 New 2Inv C A Bs A 47 ww. 18 7 from Canadian railroad sources that 1% ‘125213 Corp_ ':s:" : they were responsible for a radically 1 bearish Canadian crop estimate which was circulated yesterday, the estimate | continued to be a depressing factor, ol espcrially at Liverpool and B 1 gnion_OIL Aia 87 , | Aires. Export call for North American 5 Venezuelan Pei N c 30.100 © 100 wheat today appeared to be practically STANDARD OII, 1SSUES AND FORMER Mui i at a sjandstill, no sales of any conse- SUBSIDIARIES—STOCKS. Natrp b 0812 10415 | quence being noted. * ¥ Ancin. : s ibe: A 2 My 1D Wheat closed unsettled at the iag Hud Pow ..... 27 4 1 s same as yesterday’s finish to % dowm, iag HUd P A 4 9 ar 21 8800 fiumble 0 & g 49 | Soen chosed 8t 3% to 4 gain; oats u 100 Tllinois * | chany to 32 off, and 2Unt Car Fastener wi ;éz; 3800 Imp O Ca: EHORE L A chl«ngcd to lzlel«bu:k of %‘mflm . . #se!u IR 683’ &G 65 '39.. 1 & rehild Avistn ‘A 13 2 Nat Sonti 3 Syra W 0 ; 1 3 . v 33V 2013 Bl - : s b : Carp A v ' Tampa El d ofl .. 4 Int Pow Sec s E '57 “Water it st ) o § Lone. 8 > 5Int Bec Am 5s '4T.. 83 id o X 1Inter N G 65 '36 ww 10! " o8 FETES con Alr Trsp.. 247a e Alr_Trsp vic 2374 DLPBA 90 2,282, 3 HonE, csungEag & BB Ford Mot Co 43 Ford Mot Ltd ... 1 remos! ry pid. 3 Fornan Co A+ b nZLH 852 saeBeSta e Ex WEEE TFE T P & s 2E5882e583 e 2822EB] o O Ohio acuum Oil. . s in s 600 e 5 = ! LT TR BEhR k¥ o8 gk 38 2... 1 h een 44 0121 120130 18heri Wyo Coal 85 '47 58 2028 5 Solvay Am Bs A 1, 65 2016 4 104 8 Southe PAL 65 A 2 1 Rad 418 "4 2 2 . 4 al Ed 5 Seating 63 '36 .. 85 'y 85% u Cal E < 44m Sol sius 36 2015 12 £ South Cal G 52 97 vat out] ries 6s '30, . ppal El Pow 55 '56 957 95 Biiry pr 1 s Gas & E 858 '17127 3 73 dgaccadddadagagagaact SS555 gaEs 8322 oy S at it L 63 pfd. ity Mach & Tool Clark Equip S g322zsce 85 wRnE &8 GR3R Gities Sexv n in the first half year were $1 a share more, at $2.77. when compared with the ‘first half of 1928. Russia has one automobile to 6,890 persons. aatororse! o }Powdrfll & Alex ‘SILVER QUOTATIONS. 1 Eommonenitn B oo 3 38w | 1o EriGentia o NEW YORK, August 20 (@) 208 e oy & b3 o " 108% 108 ek silver, 52%. Mexican dollars, 39 133 Eom % Bou ‘opt hsur Co N i 1 Ratiway 1H. i . Blue Ridge Corporation Blue Rldge Corpo ratlon 1,000,000 Shares Optional 69, Convertible Preference Stock, Series of 1929 60 Broadway . (par value $50 per share) ; New York, August 20, 1929, . 1,000,000 Shares Common Stock (no par value) Y To Holders of the Common Stocks Named in the Table Below: Holders of Pref N N ettt . Blue Ridge Corporation (herein referred to as the Company) was recently organized under the Common Stock of the Company at the quarterly rate of 1 /32 of a share of Common Stock per share of Preference Stock, or at the option 3 ) t nized d of such holders to receive cash at the cumulative quarterly rate of 75c per share. laws of Delaware to buy, sell, trade in and hold stocks and securities of any kind, to participate in syn- Preference Stock of this series is convertibie, at the ¢ption of the holders at any time up to and lnchuding the Siiaypriacte dicates and underwritings and to exercise such other of its charter powers as its Board of Directors ‘z jacting i the redemption date, into Common Stock at the rate of 112 shares of Common Stock for each share of Preference Stock, with provisions may from time to time determine. for adjustment of the conversion and stock dividend rates in the event of split-ups, combinations, certain Common Stock dividends and Optional 6% Convertible Preference Stock, Series of 1929, of par value $50 per share (herein :inhu _;o. ‘l_llbfl"ibt, l;fl!" utb lroflh in the Certific-lte of Incorporation, and subject to the prg:;dnul- th:‘:in contained with req()&t to n 1 -onsolidation, etc. leemable at any time in whole or in part on 30 days’ notice at, and enti in liquidation to receive, in preference referred to as Preference Stock) and Common Stock, of no par value (herein referred to as Common over the Common Stock, $55 per share and accrued dividends. A —— " o b Stock) of the Company are being offered for subscription today by Messrs. Goldman, Sachs & Co. For Trastic Apents ¢ Rigiitoars the‘ terms and conditions of such Preference Stock andhC&Jmmon Stock, reference is made to the bank- Mawuracroasss Tausr Coxrawy, New York Piec TRtEE Coser sy YN ew Motk ers’ circular published today, copies of which may be had upon request. THE NATIONAL SHAWMUT BANK oF BostoN Unxiten States Trust Compaxy, Bpston Under the plan of organization of the Company, there are available shares of its Preference Stock and Common Stock for exchange for the common stocks listed in the subjoined table, under the plan CAPITALIZATION e To Be lmmediately set forth herein. This plan of exchange is arranged as a means of acquiring blocks of such stocks for Fblireine S antalEa RO ARRTeY Y s i lo’m".m"“m E— the Company’s investment account. Series of 1929, Optional 6% Convertible (dividend Accordingly, the Company is prepared to receive from financial institutions and security dealers payable quarterly, cumulative from September 1, 1929) 1,000,000 (acting in their own behalf or for account of clients) tenders of blocks of one or more of such common Common Stock (no par value)...cevveeeacesesseessss 30,000,000 shs.*® 7,250,000 shs. stocks for exchange on the basis indicated below. dition @ furtber number of shares of Preference and Common Stock may be issued by the Company in exchange *In ad for certain common stocks. **There i fot mfiomt‘h’v‘numbfi:fim?:mlufi-avuind?le':uwgs(xkddfiui-whw Common Stocks exchangeable for stock Number of shares of Preference and Common Stock of Blue Ridge Cor- of Blue Ridge Corporation poration exchangeable per share of % y i stock tendered. (For purposes of ex- This advertisement is subject to the more complete information contained in a letter from Mr. C.F. Stone, President of the Company, setting forth information regarding the Company and its Preference and Common Stocks. There may be obtained from the undersigned copies of this letter which Mr. Stone has summarised in part as follows: change, Preference Stock is priced at NAME OF COMPANY $51.50 and Common Stock at $20.00)* 4 and 380/715ths shares of each cl: iand 70/71Sths ¢ v« @ 3and 605/715ths ¢ 1and 535/715ths “ “ 2and 360/715ths “ “ 4 and 630/715ths ALLIED CHEMICAL & DYE CORPORATION AMERICAN TELEPHONE AND TELEGRAPH COMPANY ATCHISON, TOPEKA AND SANTA FE RAILWAY COMPANY BETHLEHEM STEEL CORPORATION ° CONSOLIDATED GAS COMPANY OF NEW YORK THE DETROIT EDISON COMPANY EASTMAN KODAK COMPANY OF NEW JERSEY 2and 530/715ths * GENERAL ELECTRIC COMPANY 8 and 375/715ths INTERNATIONAL HARVESTER COMPANY 1 and 465/715ths INTERNATIONAL TELEPHONE AND TELEGRAPH CORPORATION 1and 475/715ths THE NEW YORK CENTRAL RAILROAD COMPANY 3 and 265/715ths PACIFIC GAS AND ELECTRIC COMPANY 1and 45/715ths PACIFIC LIGHTING CORPORATION 1 and 505/715ths THE PENNSYLVANIA RAILROAD COMPANY 1 and 245/715ths SOUTHERN CALIFORNIA EDISON COMPANY 1and 35/715ths STANDARD OIL COMPANY (NEW JERSEY) 700/715ths THE TEXAS CORPORATION 650/715ths UNION CARBIDE AND CARBON CORPORATION 1 and 475/715ths UNION PACIFIC RAILROAD COMPANY 4and 20/715ths UNITED STATES STEEL CORPORATION ' 3 and 235/715ths WESTINGHOUSE ELECTRIC & MANUFACTURING COMPANY 3 and 325/715ths : FER eVt b s s e AR R sfistarrtssaassans “ “ “ " “ “ “ “ “ “ “ “ “ “ © Fractions will be adjusted in cash at the prices indicated. The Company reserves the right to reject or accept any tender as to any stock in whole or in part 154 to decline to receive further tenders at any time, B To the extent that the Company shall elect to accept such tenders, in whole or in part, it will render payment in shares of its Preference Stock and its Common Stock on the basis above indicated. The Company will have the right to (but as to any tender in its discretion need not) make delivery of such shares in the first instance in the form of written oblis;tions of the Company providing for delivery of the shares on December 16, 1929, together with dividends paid thereon, or earlier at the election of the Company. Individugjs desiring to tender stock hereunder should request their banks or security dealers (who will be compensated by the undersigned) to make tenders in their behalf at once. All necessary forms and instructions regarding tender and deposit of stock may be had by applying to the Company or to any of the following: : i Guaranty Trust Company of New York Coufimnhlminoh Bank and Trust Company, Chicago Manufacturers Trust Company, New York The Foreman Trust And Savings Bank, Chicago- 0l1d Colony Trust Company, Boston American Trust Company, San Francisco, BLUE RIDGE CORPORATION “by us aad 1 to the “Blue Ridge Corporation, hereinafter called the ‘Company’, has been formed under the laws of Dela- ware to buy, sell, trade in and hold stocks and securi- ties of any kind, to participate in syndicates and underwritings and to exercise such other of its charter powers as its Board of Directors may from time to time determine. The Company has been organized at the instance of Shenandoah Corporation; the latter corpo- ration is to purchase for long time investment 6,250,- 000 shares of Common Stock of the Company for $62,500,000 cash. Shenandoah Corporation was organized in July, 1929, under the joint sponsorship of The Goldman Sachs Trading Corporation and Central States Electric Corporation. Each of these corporations then acquired and now holds for long time investment 2,000,000 shares of the common stock of Shenandoah Corporation. The Goldman Sachs Trading Corpora- tion and Central States Electric Corporation are now purasing for long time investment from Shenandoah Corporation for cash at par and accrued cash dividend 750,000 shares (par value $50 per share) of its Optional 6% Convertible Preference Stock, Series of 1929, and at $331¢ per share 750,000 shares of its common stock.” The sale of these shares of preference and common stock, all of which will be of additional issue, will provide Shenandoah Corporation with the re- quired $62,500,000 cash. ‘The membership of the Board of Directors of the Company is identical with that of Shenandoah Corporation, namely, Harrison Williams, Clifford F. Stone, Waddill Catchings and Sidney J. Weinberg, and John Foster Dulles of counsel. ‘The y will commence business with at least $127,500,000 of cash and/or common stocks, valued at or below the closing prices on August 17, 1929 on the New York Stock Exchange on which all such stocks are listed. The proceeds from the sale of the 1,000,000 shares of Preference Stock and 7,250,000 shares of Common Stock will be net to the Company, all of the expenses in connection with its organization and the issue and distribution of these shares are to be borne by the bankers. The Company has entered into a contract with Shenandoah Corporation which provides in substance that, so long as Shenandoah Corporation owns at least 6,250,000 shares of the Common Stock of the Company, then, in case the Company shall have issued during any year additional shares of its Com- mon Stock, the Company will issue to Shenandoah Corporation warrants, exercisable at any time there- after, for the purchase of not more than an equal number of additional shares of Common Stock. The price per share at which such warrants will entitle holders to purchase shares of Common Stock shall be the net asset value per share of the outstanding Com- mon Stock of the Company at the close of such year, determined by valuing the Company’s assets &t cost or market, whichever is higher, but the price shall not be less than $20 per share, subject, in case of both the warrant price per share and the minimum price per share at which warrants may be issued, to ad- justment in the event of split-ups, combinations, cer- tain Common Stock dividends, rights to subscribe, etc. Except for this contract with Shenandoah Corpora- tion, there are no options on any unissued stock or management contracts calling for compensation other than that to be paid to officers and employees in the regular course of business.” Pnf&ma Stock $51.50 Per Share and Accrued (Cash) Dividend Common Stock $20 Per Share * These are offered subject to allotment or prior sale and in all respects when; as and if issued and /or delivered and in Itis that of stock m&. MMNnYuk.;‘.Y-WWt_ of Messrs. Sullivan & Cromwell. We reserve the to reject any and all in or certificates will be made on or September 5, 1929, at the office of Goldman; in New York funds. GOLDMAN, SACHS & CO. The statements contained in this advertisement, while not gusranteed, are obtained from sources which we believe o be reliable.