New Britain Herald Newspaper, July 14, 1930, Page 3

Trans-America Bank Corporation Shows Its 185,000 Stockholders | How Concern Management Will Recom- mend That Directors Cut Dividend From 40 Cents to25. New York, July 14 (UP)—The recent drop in 'stock of the Trans- America Corporation, the world’s largest bank holding company, has brought a detailed review of its financial situation in a statement to its 185,000 stockholders. Predominant in thg statement was the announcement that the manage- ment would recommend to the hoard of directors that the October quar- terly dividend be 25 cents a share/| instead of the usual 40 cents. The | latter rate, it said, would be ad-| hered to in the July dividend. | Although prospects for the future were bright, the statdment said, it added that it would be lacking in ordinary business prudence to ig- | nore the fact that current markm conditions and the generally prevail- | ing economic condition made it un- | reasonable for the corporation to duplicate the earnings for the past few years, | The corporation’s consolidated | net profits for 1929 were $67,316.- | 300.77, representing $3 a share. As- | scts as of December 31 were' $1,- 167,116,000, consisting predominant- | ly of bank holdings. | The statement said that the mr-1 poration and its subsidiaries had acquired, since January 1, the fol- lowing assets: Lists New Assets A—Tncreased their stock owner- ship in the Bank of America N. A and in Bancamerica Blair Corpora- | tion from 50.9 per cent to 59 2—Acquired 100 per cent control of the Occidental Life company. 3—Purchased a substantial, though jminority interest in General Foods Corporation 4—Taken over control of the First National bank of Portland, Ore —Obtained, by interchange of shares, an “important minority in- terest” in Union Des Mines, one of the outstanding commercial banks of France. There were outstanding in the| corporation on June 30 approxi- | mately 24,000,000 shares- of value of $25 each, the caid. Insurance the par p statement | Report Shows Progress The statement pointed out that the annual report had clearly shown | the progressive development of the | corporation and explained in detatil | the reorganization plans leading toward the planned investments in foreign holdings. This had also been pointed out in comment by Elisha Walker, chair- man of the board, at the time of the annual report. The report said “Under the leadership of A. P. Giannini the corporation has been most successful in building up the| greatest bank holding company in this country. The new management along similar lines, but, in addition intends to develop the corporation quiring and holding large interests plans to enter other flelds by ac- | in important industries in this co\m— try and abroad.” Transamerica stock rallied to 24 3-4 Saturday on the San Francis- co exchange after dropping to 22, a new dow. On the New York curb exchange the stock's high was| 26 3-4, its low and it closed at 25 3-4, off 1-2 point. [ Flashes of Lite ] —_ By the Associated Press. Parls — Dieudonne Coste, who plans a transatlantic flight, is prac- ticing saying, “So this is New York" with a teacher and with a phono- graph. He expects to be able to =y it with a perfect accent when re lands. Newport, R. T—Doris Duke, one of the wéalthiest girls, will make her | debut at her villa Rough Point, August 23, as the final society event of tennis week; the apex of the sea- son New York—The entire ectate of | an humble clerk is the proud poses- sion of the Metropolitan Museum of Art. William Christian Paul left a collection of antique Chinese fabrics which museum officials call unique and supreme examples of the textile art. He worked for an insurance company and spent most of his in- come for love of beauty. Cuenca, Spain—Exploration of the dungeons of an old seminary bas How One Woman Lost 20 Pounds of Fat Lost Her Double Chm Lost Her Prominent Hips Lost Her Sluggishness Gained Physical Vigor Gained in Vivaciousness Gained a Shapely Figure. It you're fat—first cause! KRUSCHEN SALTS contains the 6 mineral salts your body organs, glands and nerves must have to function properly. 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Made Investments revealed an underground chamber containing 200 skeletons of persons who died in agony there in the 16ih century. A mirror, distorting the appearance of the victims, was found | inside. | New York—A whale that got in the way of the transatlantic liner Samaria was apparently cut in two. Captain R. G. Malin said the water was reddeged for 100 feet around | after the collision, off the Grand | Banks. Lexington, Ky.—Jerry W. W. Taylor fér caterwauling on the back fence, has recovered, but Miss Mary Brent Hutchcraft, Jerry's owner, who avers the cat affords her great solace, is suing the doctor for $5,000. New York—After the late R. M. | conducted his securities | shot by Dr. | a telephone for 40 years, his sus- ccssors in the business have installed one. Coatepec, Mexico—While the in- | habitants prayed for relief from re- | cent heavy rains, a cloudburst flooi- | | ed the village, killing all the live- | stock and destroying crops and homes. Poughkeepsie, N. Y.—Bess has died of old age at 93. The first elephant John F. Ringling ever ow ed, Bess has loomed large in the Ringling circus ever since she was captured in India 43 years ago. The peabody Museum at Yale inherits ess. PORTUGUESE PREPARE ANSWER FOR BRIAND President-Elect of Brazil, Will Visit Lisbon While Julio Prestes, Touring in Europe Lisbon, July 14 (UP)—The Por- tuguese council of ministers stud- ied its reply to# Aristide Briand's questionnaire regarding United States of Europe Saturda Lisbon, July 14 (UP)—The news- paper Secnlo received a dispatch from Paris Saturday saying it had been learned definitely that dent-elect Julio Prestes of {would visit I to Brazil. Pre: | western Europe. Lisbon, July 14 (UP)—Hungar the commercial agre ment with Portugal which was signed at Paris last November, the |government was advised Saturday Oporto, Portgual, July 14 (UP)— Joaquim Rodriques Barrote, nent Oporto capitalist, died Friday night. EARTH SHOCKS IN PERSIA Teheran, Persia July 14 (#— Shahpur, Bushire and Khoi all re- ported earth shocks today Some of them were severe, There was no damage. postalsi | dropping out for other (5 GHILDREN WILL GRADUATE S00N. {Hoover School Class to Hold (ommencement Friday Washington, July 14 (P—Fifteen mountain children who have learn- | ed their “reading and writing and | ‘rithmetic” at the school which | President and Mrs. Hoover estab- | lished near their own lodge in Vir- ginia are to hold their first com- | mencement on Friday. With the big day near, the moun- tain folk are hoping anxiously that the chief executive and Mrs. Hoover will be able to attend the exercise But the White House has been | unable to give assurance of this be- | cause so long as the senate ion, Mr. Hoover never until the last whether is in minute ty-two pupils first enrol but with some being called hc to help on the farm and others causes, only 15 have bheen able to remain faithfut to their desire for learning. Miss Christine Vest, the teacher is closing the school for the summer so that they K their an go back to homes, where most of them arec needed. MRS, FLAGER DIES IN INSANE RETREAT Teaves 312,000,000 Estate of Standard Oil Holdings New York, Ida A. Flagler fortune of 12,000,00 from a $1,000,0 for her by the la ler when he on the grounds of in ty She died hemorrhage on the g Central V Y., ar buri (st T cemete. he was at the sanitarium when Flagler obtained a divorce in Florida under act of the legislatur statutes did not a cause for divo riage was in 1§ The trust fund of Standard Oil from which mult sum 12-fold. founders of The princi neph (.rm:n W. William 0 trust Henry ) divorced her of cerchrai private cottage lied the origin ndard Oil. heirs Taylor railway, death in Robert V. Bingham, T the Louisville | President Hoover’s tranquil |serious automobile accident. | |driven by L sted largely |search secretary of agler was one of the | church, NEW BRITAIN DAILY HERALD, MONDAY, JULY 14, 1930. Courier-Journal and the Louisville Times. She has since died. HOOVER CARAVAN CAR IN ACCIDENT Richey’s Anto Struck Headon—| All Escape Injury July 14 | (UP)— week- end at his Rapidan, Va, fishing | lodge was nearly marred last night | by what narrowly missed bBing a Washington, a White House car wrence Richey, one of | president's secretaries, was | struck head on by an automobile, driven by a Brooklyn, N. Y., won . who apparently had lost control of her machine as it careened past the car bearing the president. No One Injured injured in the col- lision, which took place near Falls Chuch, Va. capital suburb, while he presidental party was motoring ac rom Rapidan Richey said no charges would be filed against woman, Mrs. Caro- Iyn Lone Beach, who accom- panied by her husband, her mother and her young child The Beach car, which was travel- e opposite direction, swerv- if out of control when the sidential party approached, cut- from one side of the road to other in the congested traffic. » carcened past the first of House automobiles, that the president, then barely issed the secret service car, direct- d. It then plunged into the ; car, the third in ine. With Richey were Capt. Joel T.| Boone,” White House physician, Mrs. Boone and their daughter, Suzanne. They were brought of the way Mrs. Hoover's personal car, by a chauffeur President Investigates As soon as the accident occurred, president ordered his car stop- ped while he and Senator Allen, repn., Ka went back to see if nyone was injured. It was said to the first dent involving a presidental since President Harding's western tour in 1 As it was, the No bearing the rest car |Claims Morrow’s Votes Were for Lindy or Wife Washington, July 14 (PI—The cur- rent issue of the Methodist Clip- sheet, edited by Deets Pickett, re the board o e e e morals of the Methodist Episcopal | predicts defeat for Dwight W. Morrow should he run for presi- | vo | dent | The article says there {s resent country “strong abandoned his ition when it was of nullificationists.” le reason ose consti- New Jer- | voting for | r half for Anne.” Good looking . ..agreeable ...but ‘B.0. ody Odor) VEN AT a summer hotel where men were scarce, he couldn’t make a hit with girls. They liked his looks. They would have liked iim, too, if he hadn’t had one fault they couldn’t excuse. Of course he didn’t suspect the real And nobody told him. People hate to hint at body odor even by its Teason. polite name—*“B.0.” . out the truth and a simple way to be safe. 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Tobacco Damaged Louisville, Ky., July 14 the heat e a thing of the Kentucky public today forgot the 100 degree t of last week and u its busin farmers, bled t mercury readings Drought cont bacco, corn, w ducts of the Blue Grass s Scar of water for ca conspired to worr me some sections water s to transported long distances for purpose. at and other . erienc drinking yers for rain ge of man beings offered churches, (®—Thirteen |deaths were traced today to exces- > reported in the | three | and one in Montgom- atmospt regard of airport crash , in which Robert Thomas er for Western Kentucky faced the prospect of the lightest dark |bacco crop in years, and central Kentucky—the burley belt—was du- bious as to the future of its chie money crop. . to- Little Hope for Eric (ompanion Rescued lings were downs if drouth col Rivers were at their | in years, and cr were dried up mer has been quantity. BROLEY DECIDES T0 STOP AT ISLES -+ Fourth Plane Too Slow to Make Non-Stop Flight enn., Wash., peak | tem- lum- coma for two | s brok > off. Srown have ed a we rous PENETRATE JUNGLE 5 10 FIND AVIATOR Hook— Covert and Hall ALLING WILL RUN FOR JUDGE OF PROBATE Cxpect His Health Will Permit Him to Be Candi- date for Election. ouncement for at least ral B. W. the repub- e of pro- Gaftnoy, exy BODY seasoned befo cooking with GI.ILDENS Hambu i tasty ' .€ B Mustard ‘ e E\'Ll;‘; THING THAT SCIENCE aad the most modern of research facilities can provide, co to and safeguards the uniform good taste and purity of Chesterfield cigarettes, TO THIS END we maintain a thoroughly modern industrial laboratory with a staff of chemical experts, ibutes intent first and last, upon wholesome goodness. YOU HAVE ONLY TO SMOKE a Chesterficld to recognize at once that here is a cigarette—fine, pure, mild and genuinely good—with every quality a ciga- rette must have to satisfy... “TASTE above everything ctte 1t’s Taste We sate it a5 our honest ! tobaccos used Chesterfield cigarettes ace ity and hence e than in any ette at the price. LIGGETT & MYERS TOBACCO CO. Chesterfield © 1930, Liccerr & Myzrs Tosacco Co