The Birmingham age-herald., 1922-06-05

ufacture fertilizer during the life of tho contract, that Is, for the 100 years, and he declined to do that. He said, in effect (practicaly these were his words). that of course he was not going to manufacture fer tiiizers if he could not do so at a profit.
 Ford May Not Live
 That did not seem to me to be a satisfactory solution of the require ments. As said, MT. Ford may not live. He may intend to do all sorts of things, but he intends to carry on this business through B corporation. At that time there was no assurance as to what the capital of the corpor- alton should be. It seemed to me that thero must be a definite state ment to the effect that fertilizers would be manufactured during the life of tho contract. and that there should be sufficient capital behind the enterprise to carry 1t on.
 Would Not Agree
 "We again asked MT. Ford if he would agree to cancel the contract If he stopped making fertilizers, and he said he would not. That being the case, if he stopped manufactur- AiE AI- -AllACAS AOdH0 thah hC SOutd not do 1t nt & profit, the government would be in the position of having sold rroperty that cost a large amount of money for $5,0o0,00o and loaninE f40000, 900 to s50,0o0, 900 tor 100 years at 4 per cent without any benefit coming to the inhabitants of the sections of the country which use fertilizers.
 Proceed Against Estate
 He left mo with that statement. When the proposition came In in writing, which he said he would modify somewhat, sections IT, IS and 19 had been inserted, which do pro vide, as you all know, I presume. for a process of proceeding against Mir. Ford or his estate in case the purport of the agreement Is not car- ried out. That is not satisfactory to me as a business proposition. Of course, Mir Ford and probably his estate, will be entirely responsible. but l do not see any method of pro- ceeding against him except for dam agee. and damages in a case of that kind, 1 should think, though l am not a lawyer. would be extremely difficult to estimate, and I think any arrangement made with Mir. Ford or anyone else having in view the man Gfacture of fertilizers, should def initely provide that they shall be manufactured. that there can be no question about 1t, that there should be a guarantee of some kind which would prevent any legal entangle- uIentB.
 Must Build Dam Nc. 8
 "1n general way. that is the Ford Iroposition. One of the ob jections whick I have to it Is that 1t involved the building of dam No. 6 Dam No. 5 is not needed for any other purpose than for the purpose which Mir. Ford intends to put this plant to. doubt if there is a mar let in that general neighborhood for the power that would be developed ty both dams. In any case, if I had 1t to do myself and were entirely resy yonsible for 1t. I should develop dam No. 2 and find out whether there was an additional market require ment before constructing dam No. 3. That dam will cost $20.000, 900 at more. Nobody knows just exactly how much 1t will cost. That Is not true of dam No. 2. The cost of dam No. can be pretty closely estimated. But there have not been sufficient soundings and borings taken at the location of dam No. SO that. in my opinion, any body knows what 1t will cost. It is the kind of foundation in that neigh borhood which may be very substan- tial and solid, and it may be just the reverse.
 Then there is this feature about 1t which I think may we'll be taken into consideration. The title to this property remains in the government. That being the case. there will be no taxes. and I think that If that Is going to be developed as a com mercial operation the communities there are entitled to the taxes on that investment"
 Then the chairman asked the sec retary as to the difficulty which would be encountered in surrender Ing Gorgas to Ford. Mir. Weeks said
 "There quite likely would be .
 legal controversy over that. I
 don't know whether there would
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