davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
More and More

FENWICK l.. SMITH: This
country was lifted to Its high
level by the peculiar American
traits Of net being satisfied but
wanting more, by willingness to
save first. think second, adven-
ture third. We would be on the
level of other countries u we
had not taken risks and learned
the art NJ maiSfng mQney.
Now our government n talk
Ing more and more Of the earn
fngs OF our companies, and Of
what IL left for stockholders,
more and more Is being taken In
federal and state income taxes
on the theory that the govern
ment knows better how to spend.
From the President down there
Ii hardly an officeholder In
Washington who had previously
reached a plane of financial sue
cess-yet they think they know
moro about the businesses they
practically live upon. knock, dis
courage. hamper, hinder.
IAN executive of one of our
banks told me there are Is de-
positors who have I'm cash, over
and above their securities,
bonds, real estate, insurance,
businesses, etc. from $4,000 to
SI50,000, whereas I'm normal
times they'd most likely have a
note at the bank"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Holland Furnace
Clears S7O5,151

CHICAGO. Oct. % - Holland
Furnace Company reports for the
quarter ended September 30. a
net profit of S705.151 after fed.
Ieral income and excess profits
taxes, equal to S1.57 common
share, against SS41,755 or $1.87 a
share in the September quarter OF
1910 and $577. 4S3 or SIPS a share
for the June quarter of 1871.
For the nine months ended Sep
TENDER 30. last. net profit was ST.
ITO, l54 after provision of 1854. 055
for federal income and excess prof
its taxes, equal 10 $3.50 a share
compared with net profit of ST..
104, 139 or S2.45 a share in the
first nine months of 1910. after
provision of $36s,046 for federal
taxes.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
On the Business Front

tage and it was, OF course, more
expensive.
When the Germans invaded Po-
land they gave orders that not a
single alcohol distillery was to be
harmed poland had hundreds of
them-they made alcohol from
potatoes). and within a day or two
the plants were running "a hours
a day.
German plane motors run on an
alcohol-gasoline mixture.
If you're not interested in alco-
hol's potentialities, however. Doc
tor Hale will keep you ION the
ropes with other miracles OF
chemistry. Few men know more
about the inner-Germany from a
scientific standpoint. He repre-.
sented Dow there for several years
prior to the war.
Chairman of the luncheon com.
mittee is F. W. Pritchard of J. S
Bache, while others serving are
r. A. Crookston. f. M. Everham
F. c. Gallaudet.- j. II. Gordon and
Henry Hart,
Take my word for il, whether
Billy" Hale talks Is minutes or
an hour and Is minutes, you'll
want TO hear more.
l wouldn't miss it. Save a place
for me, Bert.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Auto
Graphs
Detroit Answer
Defense Critics,
Sec. Knox States
BY SILER FREEMAN

Detroit, once the Motor City.
Is rapidly becoming the arsenal
of the nation. Bright and attrac-
tive and shiny - at least until
December 15Las the new models
are, they are now outdone by
drab-looking tanks, stubby anti
aircraft guns, grim cannon, plane
engines and the thousand and
one things that 60 into arming
a nation like ours for defense.
Next to Washington, it is be-
coming the best known city in
the country, perhaps in the
world. Over the weekend we
have had Secretary of the Navy
Knox and his surprise at what
he saw here was expressed in his
speech yesterday dedicating the
$4,000, 900 navy arsenal, to be
operated by the Hudson Meter
Car Company.
II wish some Of the critics Of
our defense program would spend
a few days In Detroit. Then let
them adjust their comments TO
the facts"
Today the Duke of Windsor
was expected for short visit
and going through our defense
plants is an Argentine Chamber
of Deputies group.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Detroit Edison
Output Gains,
81 Per Cent
Use Of Electricity
in Nation Also
Tops Like 1910 Week

Total output of the Detroit
Edison Company for the week
ended October Is was SO. 266, 900
kilowatt hours, gain of ga per
cent over the 1922, 900 kilowatt
hours of the corresponding week
of 1910 and a fractional drop from
the previous weeks total of 3d.
504, 900 kilowatt hours.
Industrial output for the last
week was 37,762, 900 kilowatt
hours. a slight increase over the
81 100000 kilowatt hours of the
corresponding period of last year,
and a decrease of 2 per cent from
the previous weeks total of 49,
I62S, 900 kilowatt hours.
NEW YORK Oct. 29.-The
amount of electrical energy dis
tributed by the electric light and
power industry of the United
States for the week ended October
IS was 1929, 10000 kilowatt
hours, compared with 2.S66. 827. 900
in the 1910 week. an increase OF
ISL per cent, according. TO the
Edison Electric Institute.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Yellow Truck
lifts Earnings

CHICAGO. Oct. %. - Yellow
Truck and Coach Manufacturing
Company and its subsidiaries re-
port for the September quarter a
net profit of $2.714,959 after
Sc, 91s.1 34 provision for federal in
come and excess profits taxes. OF
30 cents a share on combined
class B and common stocks. This
compares with net profit oil
SIS. $50 after S319,697 for federal
income taxes. but exclusive of any
provision for excess profits taxes
in the 1910 quarter.
For the nine months, net profit
was S6.6l5, 282 after sic, 024.204 in
come and excess profits taxes, or
Sl-a5 combined elsss-B-tfffei
common. against net profit OF 3d.
SOC. S69 after 1901 .697 for federal
income taxes, but exclusive OF any
provision for excess profits taxes
i'm the 1910 period.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Ceremonies Brief

Knox came here SUNDAY and
: has been on the go ever since.
He evidently saw more than he
had expected and it was pleas
ant surprise. The output of tanks
by Chrysler. the progress at
Pontiac and Hudson or the
manufacture Of Oerlikon 20-mil-
limeter anti-aircraft guns and
the visit to the Ford plant where
airplane motors are being turned
out i'm ever-increasing numbers
convinced him that Detroit was
on the defense job 100 per cent.
The ceremonies dedicating the
enormous ordnance plant at
Center Line were short and SIM
pie but sincere. The talks were
brief and to the point, by A. E.
Barit, the reticent president of
Hudson: by Knox american Ad-
miral w. II. p. Blandy, chief of
the bureau of ordnance, and by
Commander r. r. Foster, ord
nance officer at the plant.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
.Loew' S Plans
Refunding

NEW YORK. Oct. 29.-Loew's
Inc. is considering plans for re-
funding its outstanding S11, 5S1 ,00C
81 per cent debentures. due in
1916, and probably its S13,672, 200
of $3.50 no-par preferred.
1t is probable that one long term
issue will be arranged.
In view of the strong treasury
position. it is probable, that a part
Iof company's outstanding obliga-
tons will be redeemed in cash.
The 81 per cent debentures are
Iredeemable at 100 and the pre-
lferred at los.
Loew's has on hand currently
over 100000 in cash and in
addition has between $4,000, 900
and 100000 blocked in Great
Britain. 1t is<expected that Loew's
will receive around 100000 of
these blocked funds within the
next few months under the new
arrangement now being concluded
for export of blocked funds of
American film producers to this
country.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
WITH WARD SCHULTZ
Financial Editor

convert the auto industry 10 the
use of grain alcohol for fuel over
gasoline.
He contends that il will be more
economical, that there is an unlim-
tied source of supply and that II is
more efficient. His opponents de-
clare with equal vehemence that
it is and always will be more ex-
pensive. that il is not needed
because of ample supplies of oil
and that il is not as efficient.
All OF which leaves me lettering
Doctor Hale has some mighty
potent arguments on his side
though.
Some time ago 1 stopped in 9
little alley garage where lot oi
Detroits racing bugs hang out
Over in the corner were couple
of big cans labeled "Methyl Alcoho
Union Carbide and Carbon Com.
Ipany." l asked the boys what il
was used for and was told that
the greatest racing stars is the
country use IL in their motors to
soup 'em up"
An engineer in the General Mo.
tors research division told me one
time that he'd run his car on alco-
hol for several weeks with no i'll
effects. However, he added that
he could see no particular a6van.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Thompson Produets
Net Shows Decline

CLEVELAND. Oct. 29.--Thomp-
son Products. Inc. and subsidiaries
report for the quarter ended Sep
tember 30 a net profit Of $34l ,5S4'
after federal income and excess
profits taxes. etc, equal, after
dividend requirements on 80 Gu
mulative convertible prior prefer
ence stock, 10 Sl04 common
share. This compares with $780,
500, or Sl7S a common share in
- September quarter of 1910 and
.907. or Sl.3l a common share
~ the June quarter OF 1871.
For nine months, net profit was
81. 264. 1888, equal 10 1892 COM
mon share. against S1608, 7O4. or
sos a common share in the 1910
period.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
u. 5. Steel Lifts
Profits; Votes
81 Dividend.
Sd Quarter Earnings
Exceed 34NMillions
as Shipments Soar

NEW YORK. Oct. 29.-United
States Steel Corporation today had
declared a dividend of 81 a share
on the common stock. payable
December 20 to stockholders OF
record November 19. bringing the
total authorized dividends for 1871
TO "a share as compared with
50 share in 1910.
Net profit for the quarter ended
September 30 was 34,313, 345
after interest. depreciation. taxes.
etc, as against S33,l03.067 in the
same quarter last year.
Earnings were 1921 a share on
the common stock in the Septem-
Der quarter as compared with
S3.07 in the same period OF 1910.
For the nine months ended Sep
TENDER 80 the net profit was $685.
688, 09l. representing $3.50 a COM
mon share, as against 500. 418,070
or $3.50 common share IN the
same period last year.
Shipments of finished steel prod
nets in the third quarter were al
101.1 per cent Of capacity. COM
pared with 1924 per cent in the
June quarter. For the nine months
ended September 30. deliveries
were at 101.4 per cent.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29

The price that paid for this arrangement the let
down of the function of fight
Under wartime
tendency join bandagon unduy up
ward spiral
Recognizing the shortcomings In the old
the civilian officials the defense this tired
form which constituted fixed contract spulating
which goods delivered, with
called clause whereby could
ically price type
and material the meantime
In connection with discussion of profit limitation it
essential public officials difference be-
guaranteed slender profit the hand, and
uncertain the other
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
.C. AsksBids
For Rail 5 Stock

CLEVELAND, Oct. 29.--An-
nouncement was made today that
Chesapeake and Ohio Railway Is
inviting bids for 67,484 shares of
common stock of Chicago and
Eastern Illinois Railroad. Bids for.
the stock, which Chesapeake and
Ohio owns, will be accepted until
November 6 and the successful
bidder will be notified that day.
Ii Chesapeake and Ohio succeeds
in disposing of the block of Chi
cago and Eastern Illinois common
stock. 1t is believed that the road
will ask bids on approximately
65. 900 shares of Chicago Great
Western common stock, which il
towns.
The proposed Chicago and East
ern Illinois sale follows one earlier
this month of 10000 shares of
Erie Railroad old common and
preferred stocks, which were pur-
CHASED by a syndicate and distrib-
Iuted as 10000 shares Of new Erie
Railroad common, when issued.
1t is believed these transactions
Tor the most part are being made
ITO establish tax losses and that IL
both the Chicago and Eastern ILL
nois and Chicago Great Western
transactions are completed Chesa-
peake and Ohio will be able to
establish a tax loss of close to
$50, 100000 for this year.
! Chesapeake and Ohio will own
approximately 100000 shares of
new Erie common stock, which
could be sold in 1912 for tax pur-
poses.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Ethyl Gasoline Corp.
-ExBdHdsUHifi Seufh

NEW YORK, Oct. 29.-Ethyl
Gasoline Corporation will expand
its Baton Rouge plants at a cost
OF 81, 100000, principally for hydro
.chloric acid production. The gov
,ernment has rated the plant as
Vital to national defense.
BY substituting hydrochloric
acid for chlorine in manufacture
OF tetraethyl lead. the corpora
tion will make more than 1000
600 cubic feet of chloric gas avail
able daily to ease national short
ages in this defense chemical.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Nj. s. RMkeyser
Profit Limitation
Illlperils Industry

AS an alternative TO Secretary Morgenthaus trial balloon
for taxing all corporate profits of per in
vested capital Chairman Vnson of the House naval affairs
mittee has presented bill the House
committee which would restrict profits per of pro-
duction
This is another effort to freeze law the political sen
men against undue enrichment OF private through
armament building
Obviously emergency building of lehal weapons
government normal business may proper
apply special abnormal technques which would be suitable
for regular competitive business.
Corporate opposition to such profit limitations does
spring much from desire for profteerng from fear that
uncomfortable lead losses
allows itself in selling prices sufficient margin for
tngencies.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29

Endorsement Seen
for Roosevelt Stand
Against John Lewis
BY b. C. FORBES

The many letters coming to
this column disclose rising dis
content over the federal admin
istration's discrimination against
business and investors. and its
constant coddling of obstreper-
Gus labor leaders. President
Roosevelt's plain speaking to
John l.. Lewis doubtless will be
extremely widely endorsed by all
classes throughout the country.
Extracts from communications
covering a variety of topics:
DONALD III. MYERS: Can
you engineer wide circulation for
this open question 20 the Presi-
dent: Mr.. President, how long
will labor continue to tell you
what to dO?"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Take Hint

seemed-to- the large assem-
blage of guests, which included
the top figures in the automobile
world, such as Edsel Ford and
K. T. Keller. industrialists and
business men, that every one
wanted TO get the ceremonies
over so they could get down to
real work. And this they did
quickly. The workmen. who had
come from their benches and
machines TO hear Secretary
Knox praise and at the same
time warn them that your job
is not DONE" rushed back to the
wheels of production.
The navy chiefs comparison
of the men in the plant with the
crew below decks during a bat
tie had hit home.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
FdnsteeI Dividend
First in "A Years

CHICAGO. Oct. %. - Fansteel
Metallurgical Corporation has de-
clared a dividend of % cents on
common stock. payable December
10. to stock of record December 8.
This represents the first dividend
payment ON Fansteel common
stock since 1927. Directors stated
that in declaring the payment the
board was not establishing a
regular dividend policy on the
common issue.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29

Orders Decline

NEW YORK, Oct. 29.-For the
second consecutive month";. new
orders received by manufacturers
declined in September. according
to the National Industrial Confer
ence Board. Shipments remained
at about the same level as in the
preceding month. with a decrease
in shipments of nondurable goods
offsetting a rise in durable goods.
AS a result of the decline in new
orders. the" backlog of untitled
orders at the end of the month
was slightly lower than in August.
This is the first drop in the I'M
filled order index since March.
1910. Inventories continued 10
show an upward trend.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Utility sCdpitdI
|P|dn Approved

DOVER, Del. Oct. 29.-Stock
holders of Federal Water Service
Corporation today approved plar
Iof recapitalization and merger
providing for issuance of single
class Of common stock in exchange
for outstanding preferred and
Class A stocks and arrears.
Voted in favor of the plan were
more than $4,000 shares, COM
pared with minimum of BAT, 0OC
shares required for the plan to be
adopted.
Under the plan. holders of out
standing preferred shares will be
given approximately 95 per cent OF
the new common stock and the
Class A stock will receive about
5 per cent of the new shares. The
plan provides for reduction in
capitalization. with the amount OF
the reduction being transferred to
surplus to remove a deficit in sur
plus account and permit resump-
ton of dividend payments after
more than 10 years since distribu-
ton of earnings on these securi-
a ,ze
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
.NorfoIk's PIedqe'
RUDOLPH II

RUDOLPH II. KLAUDER:
Us II not time to put gold
back into the dollar. r. ID. r..
took some gold out, he said, to
give a little Initiation. So why
can't he now say he Is going to
put 10 back To stop it,"
w. B. SfiAF'ER JR.: Local
builders have built 900 houses
In the last year trying TO help
house the enormous influx Of
defense workers 10 Norfolk, but
IL il out On the question for local
builders and developers TO build
them fast enough. A few wealthy
patriotic citizens have purchased
5000 lots 10 give to- any out-of-
town builders who will build I'm
groups OF so or more homes.
When the navy recently started
building two new shipyards we
promised 10000 new homes with
the aid OF FILA, and Norfolk IL
doing everything possible TO
keep Its word"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Steel Industry Slowed Down by Strikes

To begin with the steel industry slowed down
little by combination conditions
sort or another partly responsible To these to be
added various local shortages steel Then
the difficulties of organizing the operations of the mills
time when they shifting from civilian products and
to have their schedules inerfered with the
changes orders sometimes military authorities.
Unfortunately there little likelihood sustained
en IN steel production in the future The attitude OF
the Go labor unions involved theirs while
the getting good (The administration reaping what
has by its labor pocies The attitude of the
price xers be that the ndustys claims of diff
cuties getting sincere But unless something
situation Winter weather,
usual will make things good deal worse.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Automobile Production Far Below Year Ago

Automobile production is able fast usual
and normal at this time of This is decline stssticay
speaking 1t leaves the much below Shortly
the restrictions of the defense program will cut the figure
drastically.
Lumber production declined This we'll orders
for lumber have fallen off, and about 10 cent below
year This brings them below production $50
Despite large defense OF cotton textiles and ample
my judgment however that mill activity must have passed
the cycle and could have been held
high levels only by warboom conditions which not
veoping.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Allied Prod. Earns
S415,972 in 3 Mos.

Allied Products Corporation re-
ports for the nine months ended
September 80, a net profit OF
S415,972 after a S736,551 reserve
for federal income and exces
profits taxes, equal. after dividend
requirements on Class A stock, to
$4.S4 a share on common stock.
This compares with a net profit
Of $344.772 or $3.50 a com m n
share in the like period last year,
when tax reserve was $256,175.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Efficient Producer Offers Lower Prices

Irrespective political prejudice better In
normal times ndurasts make profit through
heghtening efficiency lowering Under such crcm
stances producer who substantial profit
selling prices goods the inefficient
producer. who pays lower
An system when puts premium
improving technology of Irespec
of passing abnormal should
whereby through the decades Amer
industry improved the quality and lowered the price
products while paying increasing and
while providing leisure for workers To continue such
industry the incentive
nent added horsepower
of science and invention.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Expected Profit Readily Turned Into Deficit

rate increase boost a further rise in
eras could readily expected
profit into deficit.
profits comparatively unrestricted then management
feels that 1t can take steps to protect itself
On the other hand, the conscience of the
requires profit limitations during the emergency
s qud needed business interests is
form the will into the red
In World War this principle widely recognized and
the solution then the costplus contract.
With all its faults which this column has frequently
alluded, this formula did achieve middle between
pofering the hand and corporate losses the other
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
}. ). Townsend Heads
Savings Group Here

John s. Townsend, secretary OF
the First Federal Savings and
Loan Association. has been elected
president of the Detroit chapter
OF the American Savings and Loan
institute. Others elected to office
by the local chapter are W. En-.
erson Clyma, assistant secretary
of Standard Savings and Loan
Association. vice president, and
Miss Anne l. Garske of Surety
Savings and Loan Association.
secretary-treasure
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Donate Gun No. |

On display in Building No. /.
where the dedication exercises
took place. was one of the
deadly looking Oerlikons. 1t was
the first one completed at the
new plant and it was announced
by President Barit that George
II. Pratt and his dealers and
distributors of Hudsons in the
United States and Canada had
bought il and were donating it
TO the United States Navy.
1t was gratefully accepted by
Commander Foster for the navy
with the -grina- meEds4----
Two months from now. this
gun will be where IL Is most
urgently needed"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Coal Mines Retain
3-Day Operations

PHILADELPHIA. Oct. 20. -
With mild weather continuing and
demand slackening. the Pennsyl-
vania Anthracite Emergency Com
mittee fixed production of anthra-
cite coal at 10000 tons, equal 10
three days working time. for the
week ended November l, the same
as in the two preceding weeks.
The mines are closed today in OBJ
servance of Mitchell Day.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29

his dreams have the uncanny fac
ulty of coming true. AS a matter
of fact, we understand that they
are great friends.
A research consultant for the
Dow Chemical Company at Mid
land, Doctor Hale is even better
known for his long campaign to
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Work TO Paw Taxes

ANOTHER READER: "Busi-
ness today IL dominated by fed
crsl government and labor
chiefs, and business men work
today mostly to pay taxes. What
made our great enterprises what
they are today Business men
and investors-genius and In
genuity that must be recognized
and properly rewarded. Labor
and government never take
risks"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-10-29
Railway Car .Loedinqs Show improvement

Railway loadngs did better week perhaps under
the influence of coasrke fears Retail trade, however,
whole sales in physical quantity
been running the year ago the dollar
figures having by about the
average of retail prices.
good thing about the business Is that commodity
to have turned again. The governments ensi
tive weekly index So cent above and "a
Last week brought fresh evidence
Congress rising prices and that the political lead
under the influence of farm and labor
not