Evening capital news. (Boise, Idaho) 1901-1927, 1919-10-05
PRESIDENT F|RESTONE TIRE COMPANY
PREDICTS MORE STABLE ERA WHEN LABOR
AND CAPITAL SETTLE THEIR DIFFICULTIES
Prosperity Will Follow Unrest
After Trying Experiences
Are Over, He Says-In-
crease Capital Stock.

Right will win, and this will be
stronger and better nation after labor
and capital have gone through what
ever trying and difficult experiences
come as the result of the present IN
dustrial unrest, II. s. Firestone, presi-
{. dent of the Firestone Tire & Rubber
company, prophesied at special
stockholders meeting recently. or the
$4,000 Firestone employees 80 per cent
are stockholders and many OF these
were present on this occasion
At the meeting the stockholders
voted unanimous Endorsement of the
plans OF the board of directors for the
expansion of the company's tiremaklng
and distribution facilities y resoiu-
ton increasing the capitalization IRON
as. 600, 600 to $75,000,000 was passed
sIirestone is now one of only 70 INDUS
trial corporations in the country whose
capital stock equals or exceeds TINS
latter figure.
LIMIT STOCK SALES
8 ONLY 100000 00 of the preferred
stock OF the additional issue author
lied will be placed on the market at
the present time.
1t was in outlining the manner In
which this additional capital will be
used that Mr. F'irestone touched on
the industrial unrest problem.
..Nhatever conditions rule else
atty Of F'iestone employees. 1t is that
LOYALTY which has brought our product
to it's present high standard ana per
mitted the company to grow in teW
wears from concern with small capital
to one of many millions. Wherever
/ travel it is a real source 81 lrioe
TO me to hear of the service our PROD
ucts are giving. l am proud because
I know that service is only possible
because OF the loyalty our employees
are giving their company.
There is, however, an industrial IN
terdependence which implies that whcn
the industries of our country suffer,
whatever the cause, our company VIII
suffer also to some extent | can
therefore, only tell, YOU concretely what
our plans are for the expansion OF our
company's activities by the use of the
additional capital voted.
AGITATORS USE POWER
AS YOU know, there is much aglta-
ton today. Good, honest mon are FOL
lowing the agitator and demagogue'
either bv choice or by necessity. Pro-
duction, both of food and of manutac-
tured produces. is being curtailed.
What the future holds it is difficult
to foretell. | am "A firm believer, how
ever. that right viii win and that the
future will bring the greatest prosper
ity and happiness this country ever
has enioyed. We are going to nave
some trying and difficult experiences
to reach that state, but when we come
through we will be stronger and a
better nation.
very extensive building program is
planned, Mr.. Firestone stated. rms
includes a $1,000,o0O plant for the Fire
stone Steel Products company, ground
for which has already been broken
2 Rims manufactured by this company
are now used as standard equipment
by more than s. per cent OF the auto =
mobile companies of the United states
The company also makes 10 per cent
Nof the steel used for solid truck tlres
Total sales Of the Firestone Tire u
Rubber company, as announced by Mr.
Tirestone, covering the period IRON
November ]. 1918, TO September !, 1913
were s69,475,197 For the same pc
Rod of the twelve months preceding
the total was 62.S21,046.6l. The IN
crease of per cent was made despite
the fact that the company reduced
prices ON tires from Is to ~ per CEN
Turing the period first referred TO.
The sales report for August, 1919, NJ
continued showed the largest month
sales in the history and an increase o
approximately IS per cent over Angus
IF 1918.
The last offer of common stock u
the employees was largely oversuh
scribed Onother offering will be made
In the near future If it can be ar
ranged, Mr.. Firestone announced.