The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-01-15
METAL SCHEDULE
IS UNDER FIRE
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tcontinued from FIRST Page
of approved joboers" TO whom the
.. ,mpany's watches were sold.
Adr RaIney tried TO BRING OUT that
,ob, ers selling below Fixed prices we're
hsyro / out of the trade
4 nown As "The Big Four"
Tn- witness 6nally said the kiCln'
,,.,.ha,,. Crescent end keystone
,,,o.ch = ompanies 90 astituted what is
.,,oxn in the industry 81 the big four,
-. dS.d that there were other sources
cf supply d,s
Mr. Fitch ssiu Nc
crtninated only against one man. =
Keene. of Ne~ YORK. wnosn a.
,ioos he said. we're contrary 10 the
,,oli..v Of the Wahham Company
t'E-.De said Mr. Fv.ch. came 20
On. w.Ltb.m's London agency ana
"a ne wanted 20 sell the watches IN
Fcvpt ard they we're s'Ad l" nm with
mat distinct undo -stsFdihs ana were
deHve-ed aboard q ship about TO san
-, Tgvot But before sailing Mr..
Ke-ne removed the watches ana ie'
the,o rsn,uin in the United States
..,rbat vas an Nful crime. com
.o.Ad Mr. Rainey You were willing
that the Egyptians csnped on the
xaods of the desert should get your
watches az reasona bie prices. ""li'
YOU compelled the A merican consume CT
"a paw perhaps dou''ie price,
c. a K-eDe. Of New York the
IN, WaItham Watch Company. crit
i-Iz.,i for violating the com pany s price
stanSards. urged the ommfteo TO nx
q tsrif OF 20 per cent ad vsIor-m on
watch movements of itll grades. and
With regard to watches brought back
from abroad. 90 per cent TO apply upon
. .ee 1.,i' years ago it vas quite profit
sbie to 20 abroad to buy American
Watches to sell here. Purchases IN n
f ts forrgn list price So 0s. which he
bought abroad for IS He asserted
the Waltham Company now seeks 10
prevent the seshiPmentt 20 A Amer'f Ca
those Watches after the latter get
abroad. thus making them dutiable
AS one familiar with watcnes' ne
any Improvement. but II put up a
customs barrier III the interest OF tneir
lower foreign price list polcy. re
sid the Waltham Company had tTled
TO force him 70 sell only at their prices
and that he could not get their watches
70 handle now .
he cannot buy any moreP suggested
Representa tive Palmer. OF PennsyI-
wanna ,;a
T.
The existence OF an international
agreement covering the aluminium in
dustrv was revealed at tonight ses-
sion of the House Committee on Ways
and Meaus
President Arthur Y. Davis. of the
Aluminium Company OF America al
rnitted that his company, the only
-I-,,o,nuro manufacturer in the United
States owned the Canadian Aluminium
Iompanv. which IN turn had perfect
agreement with all of the SIX or seven
foreign aluminium companies. MS
agreement. he said covers all the world
except this country, which, ne admitted
70 Representative Rainey was excepted
because there IS d Law here prohibiting
II
Termination into the so-cailed alum
in,In, truss also was undertaken by me
Committee ArthUrN- DAVIS. OF flts-
n,,rrh prysiGent Of the ALUMINIUM
company Of America. testified that ne
fonouauv's total surplus IS si-VVOv"
and thar the company Is capitaii1ed al
so cpo 0oG. on which u is issuing DIVIDENDS
rssner cent. II had been earning be
tween Is and Il per cent annually III islV,
1911 and lalc Representative Palmer. OF
PENNSYLVANIA. brought out that OF inc
e. coo zoo of capital. the total amount
OF cash actually put in was 81 so Voo INC
remainder representing earned pronts
Ny Davis H'o'f~ C0 fae~'.t--
threatened reduction OF the arm on
aluminium Tie said the company origi-
nallv was Started las the Pittsburgh
reduction Company in 1858 with s@oU
cs7ltal. which gradually evolNeu WIN
4he rse of patents. whose value W. put
down as S-c0. Oo0 into the s0,@oe0 cor
pors.ion
he denied that tb- company e1-
ported aluminium He agreed with
Representative Palmer that the pres
eus ca pitaI and surplus 's from Twelve
70 fifteen times the amount OF ncw
money put into the plant
N1- Da-ls admitted that his com
parv bad made contracts binding 'ts
employees and selling agents not 20
enter into the husine-s. ana VIII poN
- companies binding fbern not 20 iuT-
niAb ROVER 70 any other aluminium
manufacturing company within "a ce--
tain period
ADMISSION Of existence CO this agree
ruent amazed members % he commit
tee. some Of whom pointed out mat.
along With previous testimony regard
ing foreign trusts IN other lntercs'' .,
presented q problem never before faced
bv a tariff making CON unittee
nlr Davi. testified that 10 and MS
London rc-1--sr.i-a-irc wrote the agree
r-ent made o. MS CANADIAN plant With
al The plants M Europe
Il submitted ffc rrnfs"eNo form ~
the agreement. o. sale 10 Attorn"s
General Wickrrshaw and when thf
agreement was si-nec : sent Ny. Wick'
ershsu "A copy % if
air Davis "a Do- say what ~cticf
the Attorney Gene 81 -oo.- in TIE Meter
Mr. Wickcrsbam had no ccgnt<anc'
- his agreement between Canafa arr
the re-. % The World sKcept tar ui'c-
et.t~s INTERRUPTED kru-crcut -tiS'
pslDler.
-sr. DAVIS pro- stsl sCeire- any 70
daCstop Of tbs tsriff. ~bich tbe tcufa' -