The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1911-02-11


Builders and Traders Exchange. to
be held Friday night in the Hotel
Cadillac are going fast. II Is expect
ed that at least 200 members Will be
on hand TO hear Gov. Osborn and Ed
ward A. Roberts, the latter OF Glove
land.
+. O. Bezner, secretary OF the Hud-
son Motor Co.: Charles I. Bush, OF the
C. A. Strelinger Co.. and Assistant
Secretary Norman Flowers. or the
Board OF Commerce, left, Friday, for
Hartford. Conn. in connection with
securing big Hartford enterprise for
Detroit.
President w. II. FaIr OF Detroit
chapter American Institute OF Bank
ing. and Secretary Fred Neidermlller,
with the debate team composed oil
Irving Baker, Fred Blodgett and John
Shaw, leave Friday for Milwaukee,
where on Saturday night an inter-city
debate will be held on the subject:
Resolved, That national banks be al
lowed to issue currency on their gen
eral assets"
The American Can Co. reports earn
ings for last year amounting TO 3d.
i56,537, gain Of $l54.s60 as COM
pared with 1909 Net profits were ST.
ez2,972 compared with $2,756,152 In
1909. Dividends on the preferred
stock amounted TO $2,06l,665, and the
Surplus account was increased TO
s6,02S,5SO. There was no mention OF
further dividend prospects In the presi-
Dents report. The preferred stock
has been receiving 5 per cent year
since 1908. As II is per cent cum
ulative stock, there is now 30 per
cent in back dividends due upon this
issue.
Milton A. McRae and John l.. Lee
will go as delegates from the Detroit
Board OF Commerce to the Pan-Amer-
lean conference to be held In the mag
nificent new building in Washington
given 10 the Pan-American Congress
by Andrew Carnegie. The conference
will last all OF next week and will be
conducted as a school Of instruction
for exporters to South America. There
will be blackboard talks and stereop-
ticon lectures on the commercial Gus
toms OF South America, and II is hoped
to stimulate trade In that direction.
John Barrett, secretary of the con-
gress. will be in charge OF the pro-
gram.
Net profits OF the Chicago Pneu-
hatic Tool Co. last year. amounted
to s1,054,S09. an increase of almost
100 per cent compared with the 1909
total of $55S,o27. The balance car
ried o-er TO surplus after all charges
including dividends, are taken care
of. is S436,975. The surplus account
now amounts to $l,509,14 The bal
ance available for dividends after
fixed charges had been charged on
was s8SS,076 or 1871 per cent on the
capital stock, OF which 4 per cent was
paid to the stockholders. Earnings
available for dividends amounted to
orly 6.02 per cent in 1909. Assets are
listed as S11,350,335, compared with
S1O,S53,324 for the preceding year.
A second conference between De-
troit bankers and representatives of
the Michigan Bankers association
with the legislative committees on
banks and corporations will be held
in Lansing next Wednesday. and Ii Is
expected that the proposed amend
ments TO the banking act will be put
into final form at that time. The CHIEF
topics to be taken up that interest
Detroit bankers is a provision to pre-
vent banks Incorporated In territory
later annexed to city from opening
branch Offices when their capitaliZa-
ton Is below the requirement for the
city In addition there are some gener-
al provision for the regulation OF
branches I'm the present law. A pre-
liminary meeting with the senate COM
mittee was held Thursday, and a bill
will be drafted along the lines sug.
gested in this conferenc.
The Detroit Board of Commerce 70
taking steps TO reorganize the ns-
sociation OF 35 commercial and bust
ness mems organizations that took
part in the conference on better trade
relations with Canada, held in Detroit
some time ago, with view to taking
concerted action in the support of the
president in securing the passage OF
lne pIOpOStu ieCipioSiV as CCh"he
with Canada.
Most OF the machinery and equip
ment for the Alden-Sampson plant
which is being moved from Pittsfeld.
Mass, TO this city, has arrived at the
new factory I'm Oakland and Massa.
chusetts-aves.. and the work OF install
lation will proceed as rapidly as pos
sible. About 80 members Of the Office
and mechanical force OF the Pittsfield
factory have arrived In Detroit, and
il is expected that the plant will be
able to operate at full capacity by
March 1. II will employ about 600
men in the manufacture of all classes
Of motor trucks. The Alden-Sampson
Co. IS a part OF the United States
Motor Co. The Pittsfeld plant has
been making the heavy trucks, while
the light ones were made here in De
troit, and with the removal of the
Pittsfield plant to Detroit the manu-
facure will be concentrated here. Ono
of the chief reasons for bringing the
plant here was the difficulty OF secur-
ing skilled labor In Pittsfield.