Bisbee daily review., 1914-06-25
A. A. A. BRAKE STATUS
CONSIDERED OF BEST
WHAT IS NOW PLANNED

In an interview yesterday, Walter
Lanford gave a very clear statement
Of the present status Of affairs Of the
Arizona Automatic Air Brake Co.. and
its plans for the immediate future.
The interview win be Of much inter
est to the numerous stockholders Of
the company in this district
1--WE now have one more test 10
make before the Safety Appliance com
mittee Of the Interstate Commerce
Commission" said Mr. Lanlord.
Thereafter the commission Will
either endorse our brakes as a de-
sirable appliance for use in railroad
and other interstate traffic or will
refuse endorsement We have every
reason TO believe that the commission
will give its endorsement Personal
expressions that have been made to
us. consequent upon the series of tests
the safety committee of the commits
sion has conducted, cause us to- eX-
pect that the official utterance viii be
wholly i'm our favor The remaining
test Is not one of near the importance
of those that have been made, as re-
garding final influencing of judgment
our expectations as to official rec
ommendauon Of the brake by the In
terstate Commerce Commission is
shared by railroad engineers and 9th
ers i'm the east who have been Keep
ing In touch with the demonstrations
and without work. In fact these engi-
ueers are so well satisfied that if we
desired to do so we could at once
make contracts for the placing of our
brake on railroads and street rail
ways on royalty basis. or could make
outright sale Of our patents, How
ever we have considered that 10 is
worth while to wait for the Inter
state Commerce Commission as its
endorsement viii enable us to make
much better terms in the disposition
Of our patents, whether under royalty
agreements or by direct sale of appli-
ances. This is merely good business
sense"
"In regard TO the shares end of the
company and it finances, there is this
TO say ] came out from Baltimore
for the purpose Of going before the
state auditor and carrying out instruc-
tions from our eastern attorneys. for
mer Senator Bailey OF Texas being at
the head of these advisers These in-
structions provide for the increasing
of our capital stock from 100000
shares Of par value of 81 each to
| 100000 shares of 81 par value This
plan supersedes the one under which
| IL was intended 20 advise that isther
] IL was intended 10 divide the owner
I ship of the patents between two com
/ panies and take up the outstanding
stock Of the old company. There We're
several reasons for changing this plan
one of the main ones being improved
/ outlo0f which came for the other
! patents and the seeming advisability
of keeping these for the fun benefit
of all the original stockholders. There
was also consideration of the fact that
while out intentions Ina the transac
tion We're deemed for the best Of the
stockholders, there might come a time
in the future when the enhanced cal
of an the patents would raise a Ques
ton or doubt as to the entire fairness
Of the transacton-at least as TO its
wisdom.
Under the plan Of increased cap
italization the company win at once
turn over 10 every one Of its present
shareholders twelve shares Of stocl
for every one share now held Their,
viii still be left IN the treasury near
ly one million shares Of stock, a por