The daily star-mirror. (Moscow, Idaho) 1911-1939, 1922-08-04

might be freed from the prohibition en-
forced by the patents against the man
! ufacture of the most valuable dye
stuffs. Accordingly these considerations
were laid before various associations OF
| chemical manufa cturers, notably tho
Dye Institute and the American Manu-
featuring Chemists Association. The
! suggestion was met with an instan-
/ taneous and enthusiastic approval, and
as a result a corporation has been or
| ganized to be known as the Chemical
Foundation Unc.), in which practically
every important manufacturer will be
a stockholder, the purpose of which Is
to acquire by purchase these German
patents and to hold them as trustee
for American industry. =. The first
president Of the Chemical Foundation
will be Francis P Garvan Of the New
York bar, to whose clear vision and in
Gefatigable industry I am chiefly in
debted for the working out of this plan.
The combination was not objection
able to public policy, since it was so
organized that any genuine American,
whether a stakeholder of the COM
pany or not, could secure the benefits
of the patents on fair and equal terms"
Quasi-PubIlc Idea
Mr. Garvan goes on to state that at
that time he was dollar a year man,
with no expectation whatever of be-
coming alien property custodian; that
1t was only when Attorney-General
Gregory resigned and Palmer was APP
pointed attorney general that Palmer
asked him to take the custodian's
place Three months later, he writes,
he testified before the Ways and Means
Committee Of the house: The founda-
ton OF the Chemical Foundation was
an effort to form an organization to
represent as nearly as possible at that
time the public interests. Judge In
graham Of New York and Judge Gray
of Delaware had charge of drawing
our charter and our trust agreement
and our certificate Of Incorporation.
We have endeavored to make 1t az
nearly . public institution as our laws
allow. and at the same time to have
it an official organization. We wanted
to sell these patents to the govern
ment, and If there lad been any
method ny which we could make them |
working force and still have them
owned and controlled by the govern
ment, If would have relieved US of a |
great deal Of respo5, sbi]ity, and II |
there is at this time any suggestion for |
modification or amendment of our plan |
which VIII insure In the minds Of the |
committee more definite and certain |
fulfillment Of the intention and pur- |
poses Of our organization / am certain |
that the Chemical Foundation and all |
its stockholders and all who are inter-
csted in it would be glad to conform
TO the wishes of the committee, be-
cause, in so far as we have public rec
ignition and public support and gov
eminent recognition and government
support, we become more efficient and
become more able to carry out the in
Lentions which are in our hearts and
Minds"
Mr. Garvan states that the total or
gross income of the Foundation has
averaged $143, 216.65 per year. The run
ling expenses, bare overhead, have
1921 ,971.35 net excess OF
;21, 245.3O or O49 per cent on the $428,-
700 invested, allowing nothing for de-
,reciation. The average life Of the
PATENTS is eight years, so that 12A
'er cent Of the S271.850 cash paid for
he patents, or $33,981 per year,
hould be subtracted from the appar-
mt net receipts per year, which leaves
n actual annual operation deficit Of
IL, 1850 In educational work, Mr..
'arvan informs th01R PRESIDENT the
foundation has spdl3ta 6Q17. IS, the
ntire balance of itAkUMDl
Quotes English Prediction /
Firmly maintaining that the Founda- /
on is the keystone of the wall raised |
} protect the American people from
erman chemical domination Mr.. Gar {
an maintains such protection is indis- G
ensable to the future happiness. health .
nd safety of the American people, and c
notes from recent open letter to t
arliament written 5y James Morton, :