The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1911-02-10

The Chope a Stevens Paper Co. has
f.ken long lease on the fiye-story
l.arlev building at Woodbridge and
nalts.sts.. and will move from the
orcecnt quarters at Jefferson-aye. and
Criswold-st.. In the near future,
Tickets for the banquet OF the
builders and Traders Exchange, TO
be held Friday night in the Hotel
Cadillac are going fast. IL Is expect
cd that at least 200 members will be
on hand TO hear Gov. Osborn and Ed
ward A. Roberts, the latter OF Glove
land.
y. o. Bezner, secretary OF the Hud.
son Motor Co.: Charles t. Bush, Of the
G. A. Strelinger Co., and Assistant
Secretary Norman Flowers, OF the
Board OF Commerce, left. Friday, for
Hartford. Conn, In connection with
securing a big Hartford enterprise for
Detroit.
President w. II. Farr, OF Detroit
chapter American Institute OF Bank
ing, and Secretary Fred Neidermiller,
with the debate team composed OF
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 49,
456,537, a gain OF $154,S60 as COM
pared with 1909. Net profits were w.
sz2,972 compared with $2,756,152 in
1909. Dividends on the preferred
stock amounted to $2,061,6 65, and the
surplus account was increased toI
36.O2s,580. There was no mention OF
further dividend prospects In the presi-
dents report. The preferred stock
has been receiving per cent a year
since 1903 As II is a z per cent cum
ulative stock, there Is now 80 per
cent In back dividends due upon this
Issue.
Milton A. McRae and John L. Lee
will 60 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 to 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-
eress, will be in charge OF the pro-
gram.
Net profits OF the Chicago Pneu-
u,atic Tool Co. last year, amounted
to sI,054,809, an increase of almost
100 per cent compared with the 1909
total of s55S,927. The balance car
ried over to surplus after all charges
including dividends, are taken care
OF. is $4S6.975. The surplus account
now amounts to $1,000, 149. The bal
ance available for dividends after
fixed charges had been charged on
was $SSS,076 or 1871 per cent on the
capital stock, of which per cent was
paid to the stockholders. Earnings |
available for dividends amounted to
only 500 per cent in 1909. Assets are
listed as $11,350,335, compared with |
1O,S53,324 for the preceding year.
Al 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 1t 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 in the present law. A pre-
meeting with the senate COM
mittee was held Thursday, and bill
will be drafted along the lines sug-
gested in this conferenc.
Most of the machinery and equip
ment for the Alden-Sampson plant
which Is being moved from Pittsfield,
Mass, to this city, has arrived ut the
new factory in Oakland and Massa-
chusetts-aves.. and the work of install.
lation VIII proceed as rapidly as pos
sible. About 30 members of the office
and mechanical force of the Pittsfield
factory have arrived in Detroit, and
II Ii expected that the plant will be
able to operate at full capacity by
March I. II will employ about 600
men IN the manufacture Of all classes
Of motor trucks The Alden-Sampson
Co. IS 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. One |
OF the chief reasons for bringing the |
plant here was the diffculty of secur- |
ing skilled labor in Pittsfield.