Evening star., 1925-08-23
SHINES UNREAL
IN MARTYR POSE
Has Tried Old DynastiC Pol
icies in New Age-and
Failed.
BY MAMMALIAN HARDEN.

BERLIN, August 22.-In the last
10 years a couple of dozen dynasties
have died or rotted away and there
is hardly one left in Europe which is
not prevented by the iron bars of
"a constitution from doing any damage
at home or abroad.
Now "a sad occurrence in the un-
healthy German business world
teaches that such bars are necessary
also for business dynasties. Hugo
SHINES once wrote to the writer that
up to his fiftieth year his main task
as a merchant and an industrialist
had been to free himself from the
power and control of bank capital.
He had succeeded in doing that at
that time to almost a greater degree
than the intellectually stronger and
farther-seeing Henry Ford. The
mightiest financial institutions We're
under his thumb and they We're happy
when they could loan him money on
terms dictated by him.
Quarrel Undermined Concern.
Less than a year after his death,
the foundation of the SHINES con-
Germ had become so disintegrated
that it had to beg banks which it
once dominated to save il from the
danger of insolvency. Between the
two eldest sons. Edmund and Hugo,
to whom the father had bequeathed
guidance of his affairs, together with
his widow and his daughter, CaIire
quarrel which in the course of
several months undermined the
dangerously complicated undertaking
1t was the banks duty and wish to
prepare the liquidation as carefully
as possible In order, first, that they
as big creditors, should be saved from
loss, and, secondly. that the founda-
tions of the business world would
not be shaken too violently.
In a couple of months they succeed
ed in getting tolerable, though not
favorable, prices for their best hold
ings, and covering a third of the total
debts. The realization that their other
holdings could be disposed of only
with much greater difficulty in a time
of extreme shortage of capital in Ger
many, was further embittered by the
discovery that the Indebtedness was
considerably greater than had ap-
peared from the family'S representa-
tons. Another fact. which had been
given little consideration. became i'm
portant. Edmund SHINES, who en-
tered the concern relatively late, after
having pursued his university studies,
had closed d contract with his mother
seven days before the banks inter
vened, under which he received as his
share of the inheritance the majority
of the shares of an insurance company
missory note for 6,00o,00 marks
and an automobile factory and pro-
against the firm.
Banks Object.
The banks maintain with moral and
legal justification, that Edmund Stin-
mes had not the right to do this; that
at the last moment he removed from
the reach of creditors property worth
10 900 900 marks. Edmund rejected
the banks demand that the contract
be cancelled, and declared that he had
sold his stocks and the claim for 6 ,000,-
900 marks to Holland buyers, and that
he retained only the stock of the an
tomobile factory. Shortly afterward,
when this concern. like many stronger
concerns in Germany, lacked ready
capital and could not even pay its
workmen, he demanded as matter of
right, first that the state help him,