The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1911-02-01
BUSINESS NOTES

p BUSINESS NOTES
Ihe bulletin OF the American Ran
as association shows idle cars /,
~ number OF li4.S20 on the tracks
nc railroads ON Jan. rs. This
oEpsres With l06,92! two weeks be
4. iore The Increase being 1886.
Articles OF 1incorporatlon have beer
MED In lansing by the Detroit Pros
peeung Development Co. The In
eoriorators are John Moore, Maryil
.. Aoore. Thomas r. Ahern, and NJ
:! anderson, anc the capitalization II
$4,000
Workmen are rapidly getting the
rooms above the Buick garage. at No
~ Woodward-ave., into shape TO 70
eelVe the newly appointed officers ol
the General Motors Co. The offices
A VIII be orened next Wednesday. quar-
ters being provided for the president
tecretary, treasurer, and controller
The stearer Gettysburg welEknowE
In The lumber trade Tor many years
mas been purchased from Alger. Smits
q O., by Burns Bros. and will bs
used in the coal and lumber trade be
tween Tonawanda ahu Duluth. ;Sh,
VIII tow the barges Melbourne dnC
sweetheart The Gcttysbdrs has 1
gross tonnage o, 1927, and is POS fee
long. She was built at Trenton II
1885,.
As result or Tie reciprocity meas
1 IRE which has been proposed. lite
Board OK Commerce has received O
Communication from a prominent Tor
onto grain dealer asking To be put in
touch with wholesalers and consumers
M wheat In Detfoit The Toronto fra,
claims that II will be able to lay down
grain In Detroit considerably under
The present prices II the duty is re-
moved
The Board OF Commerce is out with
Z announcements or tho big event of
the season In the entertainment line.
big event, In fact, In the history OF
Detroit, for upon the occasion of the
annual smoker 10 be given In the
4 Wayne Gardens. Tuesday, Feb. 3. the
mucli discussed Jim" Scott fountain
VIII be unveiled In addition to the
unwilling ceremony, there will be
vaudeville stunts, a general good time
ana lots OF other things. according to
the preliminary bulletins.
The second open meeting OF the d.
:ectors and Invited members OF tho
lioaru of Commerce will be held We'd
nesday noon at ~ 10 in the Hotel
Cadillac. The membership campaign
will be formally launched at this meet.
ing. The plan IL TO select about IS
teams tc canvass among the business
men OF the city f'r new members for
the board. Ii is part OF the program
OF secretary Wilson 10 make the board
\ more representative and WELD a wider
Influence In city affairs.
The report OF the JanuarE call or
state banks. soon to be Issued ny
Banking Commits sioner Doyle, viii
show an increase In savings deposits
OF $2,121 ,022 from Nov. 10 20 Jan. z.
The increase In commercial deposits
Was $2,93S.270. Loans show a 10.
crease OF sl,390.7S4. indicating a
cleaning up OF liabilities at the close
OF the year. Reserves are Sl3,00D0G .
above the requirements. The total re.
sources OF the 399 banks reporting
10 the state department are $s0S.,
o91.997.
The Detroit United railway Is sai
TO be meeting with considerable sue
I cess In placing It's recent issues OF
notes and bonds. William A. Read
a Co., New York, have taken up and
sold sl,50O00O worth OF per cent
collateral trust gold notes, dated Feb
Is, 1911, and due Jan. /, 1912. These
notes. are secured by an issue OF ST.
$4,000 OF the first consolidated Az
bonds and other collateral. A syndicate
OF Montreal stockholders has under
swrltten the 81 100000 first consolidat
ed IN bonds recently offered TO be
taken up as the company requires.
In the annual meeting of the stock.
holders of The Peninsular Stove Co.
Monday afternoon. officers and d.
rectors were reelected as follows:
President, Frederick L. Moran; vice
4 pic sident and general manager. James
Dwyer: secretary, John NJ. Dwyer:
treasurer James NJ. Dwyer; auditor,
Ilanlel L. CTOWlty. III duuiliOH u lhc
officers the board Of directors is made
ND al follows: James Dwyer, ID. G.
!. Whitney, NJ. w. O'Brien, F. T. Dwyar,
and E. l.. Dryer. Reports on the
years business. show gratifying In
crease during 1910.
The Detroit. Toledo & Ironton IL
still further involved In legal tangles
by suit started In the United States
q court, in New York. by the Bond &
Share Investment Co. against Joseph
Ramsey, Jr., Newman Erb, James II.
Gilman and others, as committee OF
noteholders OF the railroad, to pre-
vent this committee from carrying out
= an agreement with II. b. Rollins q
co. for disposing OF the noteE and Sc
cGrities held by them. IL Is claimed
that the necessary two-thirds OF those
interested did not authorize the COM
miltee TO make the agreement.
Secretary Charles A. Bowen, OF the
~. n