The Birmingham age-herald., 1921-02-07

board of directors. Apparently in rhe opinion of the court he was for that req son all the more responsible and a judg- ment of $70o.000 was obtained against him. Within few days it is the understanding that this judgment was released by the payment of a compromise sum by this di- rector.
 The modern tendency of the courts is to insist that directors be held respon- sible for their action or neglect of proper action. In the past it has been possible by legal subterfuge, and even by the tol- erance of the courts to obtain property by what some of the lawyers term legal robbery" But the modern tendency Of the courts is to prevent that and if it should be proved upon trial that the di- rectorse of the railroad company who bought the Denver and Rio Grande for almost nothing, were negligent, or if the trust company which was trustee of the bonds was also negligent to it's responsl- blity, or if anything is proved approach- ing what MT Webster the counsel who represents the western committee of stockholders, charges as fraud. then the courts are likely to interfere at least 80 far as to protect the stockholders in their rights.
 G00,000,G00 POUNDS OF COFFEE
 The various conferences which have recently been under way in this city in which the leaders of the copper mining industry have shared are at last to result probably in great benefit to this indus try It is dangerously abnormal situ- ation in which this industry is now placed, and it IS imperative that the em- barrassment be relieved if there is to be q return to normal industrial ana trade conditions. The copper producers have accumulated surplus of 600,O00 ,0Uo pounds. They cannot sell it at present excepting at loss. But they could sell at least one-half of it to Germany irn- mediately provided only Germany dis covers or is aided in securing the means by which she can finance the purchase Of this copper.
 The copper producers are just now com pelled to rely upon exports of copper to relieve them from their embarrassment If they can perfect plans by means of which Germany will be able to take within this year at least one-haif of the surplus of eoo,oOoooO pounds, then they would in that way pave the way for the marketing upon a very large scale of American commodities, especially raw materials of which Europe stands in need. In fact, it was said this morn ing that if the financing of these exports could be arranged, then the business which would come to the United States from foreign sources would be of vast volume.
 The wonder is whether the agreement which has recently been reached by the allies, which asserts that Germany must not obtain any foreign credits unless these are approved by France and Great Britain and other allies, might not inter, fere with these arrangements. But the reply to this doubt calls attention to the fact that the United States took no part in the recent meeting of the allies at ,inI, ro ion frnv px fixed, and therefore need pay not the slightest heed to any restrictive contin- gency upon credits arranged for by Ger many.
 It seems to have been a premature report that the Copper Exporters asso- citation has sold at least 300 000 0C0 pounds of copper to Germany, and has gained as sistapce in financing this purchase which involves little over $50,000,000 It is not improbable that the report arose from the fact that tentative negotiations are now under way.