Index

Building. Walter Percy Chrysler has just gained the head of the third greatest motor company by the Chrysler-Dodge merger. He is less individualistic than Mr. Ford, yet is mighty proud of his success and reputation. Last week he started selling mortgage bonds (through S. W. Strauss & Co.) on what will be the tallest building--in Manhattan or the world. It will contain 68 stories, and be 808 ft. high. It will, of course, be called the Chrysler Building and is Mr. Chrysler's personal venture.

Russia. The Amtorg Trading Corp. of New York, sole U. S. purchasing agent for the Soviet Government and the International General Electric Co. of New York have concluded a deal whereby $25,000,000 worth of U.S. electric apparatus may be sent to Russia within the next five years. Thus was pointedly marked a commercial rapport between the two countries. The Russian press was jubilant over the deal; Economic Life of Moscow talked about a breach in the ''credit blockade."

Seats. For 49 years the New York Stock Exchange has had exactly 1,100 membership seats. During the past year, with the continual trading of 3,000,000 and more shares each 5-hour day, outside brokers have clamored for membership; members have growled at would-be intruders. When members were willing to sell their places they got huge sums. Last week one agreed to sell for $480,000. Last week, too, the Exchange's governing committee appointed certain members to study deliberately the possibility of increasing the total number of seats.

Goodyear Melon. After a near-decade of financial trouble, reorganization and management strife Goodyear Tire & Rubber Co. last week announced a stock melon. To stockholders it will sell a new common issue for $50 a share. Present common is around $90 a share. With the $41,480,000 derived from this sale Goodyear will pay off $7,500,000 notes due in December, will build a manufacturing unit in the South, will improve its financial position.

Capital Administration Co. Ltd. was incorporated in Maryland last week, authorized to sell $20,000,000 securities as an investment trust with the co-operation and advice of British bankers. Among its directors is Professor Irving Fisher, Yale economist; Artemus L. Gates, son-in-law of the late Henry Pomeroy Davison and vice president of the New York Trust Co. Banker Gates, as a husky War aviator fell within German lines, intrepidly turned his machine gun on his captors, was imprisoned, escaped, was recaptured.