Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-11
MORROWS EXTEND
COMPANY HOLDINGS
--latest Report Has Con-
nected Them With Ward
Baking Concern.
BY JOHN F. SINCLAIR.
,ciaI Dispatch 10 The Star.

Special Dispatch to The Star.
NEW YORK, September 1l.-George
K, Morrow, who, with his brother
Frederick K, controls the Gold Dust
Corporation, may acquire the Ward
Baking Corporation as his next ven
ture in the food industry. The Ward
corporation is one of the four largest
baking concerns in the United States,
In August last year the Morrows
took over the United Cigar Stores Co.
1t was not lsng before they used the
financial AK and wrote down the sur
plus from nearly S22,0000 900 at the end
Of 1928 to a deficit of S776,000 on June
80, 1929
Since then the Morrows have been
busy cutting off other liabilities from
the same company. Recently they sold
the Happiness Candy Stores, which
last year reported deficit of $306,000,
and the Mirror Candy Stores to Loft,
Inc. while they placed the Neve Drug
Store chain, which showed a loss of
$4lS,000 last year, in bankruptcy.
Last year the United sold its minor
fly interests in Life Savers, Inc;
Schulte-United Stores. Beechnut Pack
ing Co. and Gillette Safety Razor Co.,
and made more than 100000 in do
ing so. The company, however, still
has minority interests in half a dozen
QUIET COilCGIILS, lICIuulIlS JIle AulSIl-
can Safety Razor Co. and the United
States Tobacco Co. 1t owns. as well,
the Whslan Drug Stores about 200) 3.
and many Of these units are understood
to be making money.
George K Morrow, 81, is a Canadian.
After making business success in
Toronto, he came to the United States,
and secured the backing of powerful
Wall Street interests, supposed to be
close to George F. Baker Of the First
National Bank.
Mr.. Morrow is president of the Gold
Dust Corporation and the Warner Sugar
Refining Co, vice president of the
Standard Milling Co. and a director of
many others, including Remington
Rand Inc, Remington Typewriter Co..
and Christie Brown g. Co.
Business With Russia.
Thomas D. Campbell, the Montana
farmer, whose 100000-acre wheat de-
velopment has given him a national
reputation. confesses thab he is dis
tinctly puzzled at the attitude of many
people toward business affairs outside
their own Nation. Especially does he
feel this way with regard to American
business with Soviet Russia.
I'm a crisis such as we are in. we
could relieve our industrial depression
almost Immediately by taking our share
of the Soviet governments business,
which is offered to US and which we
are urged to take" Mr.. Campbell says.
1--WE do not have to recognize their
government to get this business, as
other countries have, neither do we
have to guarantee our manufacturers
go per cent of their sales, as England,
Germany and Italy have done. Rus
STA is the biggest market in the world
for American goods and will take
enough of our commodities to keep our
manufacturing plants operating at fun
capacity for the next two or three
years"
But will all business men, If doing
business with Russia, really be assured
of payment for the goods sold?"
There are many things in connec-
ton with the Russian five-year pro-
gram which American citizens and
American manufacturers should know, "
replied Mr.. Campbell. Personally,
would like to know why there is such
a concerted opposition in the United
States toward taking the Russian bust
ness offered to us when their CONNER
cial record to date in regard to pay
ment has been 100 per cent perfect"
Mr.. Campbell returned several weeks
ago from another one of his periodic
trips to Russia. where he has been adj
vising the Russian government on mat
ters Of large moment dealing with ag-
riculture.
Iron Production.
The last industries to reach their
postwar record in Soviet Russia have
been the heavy industries, that of steel
particularly.
American, British, French and Ger
man steel manufacturers have sent
much steel into Russia since the Soviet
government took charge. But it is well
to remember that Russia ranked fourth
in the world in pig iron and steel pro-
duction before the war.
The Soviet official figures, just an
nounced, show, however, that this year
the gross tonnage production Of pig
iron and steel per month is exceeding
that of the old record of 1918. Here
are the figures: