davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Biggest Threat

Although any specific govern
ment action against curtailing
auto production is unlikely during
the current year. il may be lin
tied by two factors beyond the
control Of the industry.
Although shortage of materials
has been widely publicized, an
even greater threat 10 auto pro-
duction is the shortage Of skilled
labor which will become more and
more apparent as the Summer
wears on.
When the ChrySler tank arsenal,
the Packard plane engine plant,
The Ford engine plant Fl star TT opera
lions. they Will undoubtedly siphon
men from the automotive factories
with the real test coming in the
FAN and the critical period Jan
uarv 1912.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
'BaIkanized' America

There il strong possibility
that the emergency problems
created in the national defense
program may provide surcease
for the trucking industry from
one OF its biggest handicaps.
In his annual report to stock
holders, Harvey {. Fruehauf,
president of the trailer company
which bears his name. points out
that unreasonable regulations
and restrictions instituted by
the various states have virtually
'Balkani7ed" United States as
regards interstate shipments by
trucks.
In the past ii has been diff
cult for the industry TO cope with
pressure groups in the states be-
cause public opinion was slow to
be aroused. Speedy transporta-
ton of vital war materials may
force the elimination of most of
the unfair restrictions.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06

Nat. Bank Opens Sorrento
McNichois Unit Tuesday

The McNichols-Sorrento branch
of the National Bank of Detroit
will open Tuesday, April s. 1t is a
new building, completely equipped
with all modern banking improve
ments and facilities.
On or about May an outdoor
teller's window will be in operation
at the rear of the branch. Service
at this window viii be limited 10
cashing checks, making change,
and accepting deposits. and this
will be accomplished without the
customer leaving his car.
Gordon w. Willis has been APP
pointed manager. He h s been
with the bank since its organiza-
ton in 1888, and prior TO that was
with the Peoples State Bank and
successive institutions, later as
branch manager.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Foremen Problem

The auto industry is already
faced with a more immediate
problem which is swiftly reach
ing a serious stage.
II is the shortage Of foremen
and supervisors.
Not only are some being
drafted for defense work, but in
departments where there j. con-
siderable overtime or where
they are on piece work. many Of
the foremen are resigning be
cause they can make more money
As regular WOrkmcn.
one foreman in local auto
plant told the writer that with
q g. and 7-day week the rule,
almost every man working
under him averages about $40 a
week above his fiat salary
In big forge plant. fore
man resigned S275 a month
>alar1ed job and il now making
500 a month on piece work.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Michigan Banks
NJ a d e S42,183
Loans in 1910
Total S586.1 $4,000,
Survey by Sta e
Association Shows

IN connection with the know
Your Bank Week set for April
1i-19 the Michigan Bankers Asso-
citation made a survey with Com
missioner +. 3. Elliott Jr. in which
he issues the following statement,
"Michigan is indeed fortunate
In having such n fine system OF
state chartered banks, trust COM
panieS and industrial banks.
Based upon conversations that l
have had with representatives of
both Federal Reserve System
and the Federal Deposit CorpO-
ration, both federal agencies be-
ing in a position TO view the
state banking structure Of the
as states, I feel that the Michi-
gan system Is second TO none"
During 1910 the 254 Michigan
banks made $40. 1873 loans, totaling
S5S6, 134.300 The survey also
showed 4-736, 079 depoSitors with
STAG, 1850 Widespread owner
ship OF bank stock was also evil
denced by the fact that the banks
reported 56.S75 holders.
Samuel r. Park, president OF
the Michigan Bankers Association
said the primary purpose of the
Know Your Bank Week" was tC
acquaint the public of the role the
bank plays in the everyday life OF
each and every community. lie
added:
'Nhile a bank may be COM
monty known as place 10 put
your money. each and every
banker In the state of Michigan
realizes that the handling Of
other peoples money Is a public
trust. He has a duty to the
many thousands of depOsitOrs,
stockholders and borrowers.
Never In the history of this
country has there been more
need for good faith than at the
present time. Good faith on the
part Of the banker and the citi-
zen i'm their respective communf-
ties, both realizing the needs OF
each other. BY thrift we can
build strongly for the future
which will insure n high stand
ard OF living for the people OF
this great commonwealth"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06

trucks and trailers which VIII con-
time 10 operate after King VIM
,ar has put the boats out Of
business.
Already The land feet COM
rriSeS Il tractors. 20 traiers, four
complete double unit trains and
SIX stake trucks In the summer
months they VIII be used largely
for pickup and delivery service at
Detroit and Cleveland.
And that is far from the conf
pletc lsl Of Improvements insu-
iuted by the company, according
80 a report from President j. T.
Mcmillan a new So 600 asphalt
block floor was installed in the
big warehouse. while other i'm
provements. including better facili-
ties for handling automobiles,
brought the total expended TO
10 more than $4,000.
Much Of the credit for the pro-
rreSsive policy of the company
goes 10 Bernard NJ. Gordon, newly
appointed assistant 10 the preSi-
dent. This year one of the d.
and C.'S captains surveyed the
lower lakes from a chartered
plane and as a result navigation
started March 81, a full week
ahead OF year ago.
Forecasting substantial gains
for the current season. Gordon
sand that the company hoped TO
handle well over the 10000 cars
-hlpped IN 1910.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
New Style Financial
Merchandising Urged
Recommends Newspaper Ads to Sell
the Business as Well as the Product
BY MERRiLE STANLEY RUKEYSER
International News Service Economic Commentator

Finance. like all other human
institutions, is dynamic, and is
perpetually in process Of upbuild-
ing or decay
While public attention has been
dramatically focused on the Serl-
Gus decline in conventional security
IN WallStreet there
has been a tendency to overlook
new techniques which are in the
process of being born.
A.. incident TO the shrinkage in
brokerage activity has been the
decline in conventional financial
advertising. But that is only one
side of the picture. The creative
aspect. on the other hand, IS the
development of a new use for
cooperative and financial adver-
Using. in which companies them
selves humahize and STREAMING
their accounting figures and pub
liciZe them widely IN order to ere
ate better understanding with en-
ployeS. stockholders, customers
and the public generally.
To the extent that this new
trend develops widely, new style
financial merchandising will be-
come more responsible 1t will be
handled directly by responsible
management. In the old days. it
was not uncommon for insiders to
provide outside security vendors
with exploitation funds for tout
ing and merchandising their Sc
1t,,st,iae
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Personal Notes

SeWs New York Legislature
has twu bills on the fire TO slash
small loan interest rates. One
calls for per cent a month on
the first 800 and , per cent on
the last 500 while the second
calls fer and2. Dave
Shaughnessy Of American Air
lines called "a tell u that the
airline ranked seventh in pas
senger revenue ~ compared
With the railroads. "
Kings proud a. punch because
Merrill IYnch. r. \ Fierce,
ete.'s local bowling team fin
ihsed at the top. ~. Heard
that Gar Woods recent sale Of
common holdings IN Gar Wood
Industries was big surprise 10
his own brothers.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Amer. Radiator
Profit TrebIed


Rejecting the high level Of con-
activity, operations of
the American Radiator and Stand
ard Sanitary Corporation in the
first quarter were at the best
levels for that period in many
years.
Based on current income tax
rates. it is probable that the net
income for the first quarter was
in the neighborhood of S1.500,000.
Net income in the first quarter of
1910 amounted TO $40, 754, equal
to 3 cents a share on the common.
To handle further gains in de-
mand. A erican Radiator is
doubling the capacity Of its Wit
reous plant at Trenton n. j.
Plants are operating "a hours a
day.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Insurance Men
In Detroit SET.
April Clinics
II. II. Irwin Will Lead
Discussions in 3
Saturday Meetings

In anticipation of large num-
Der of industrial insurance men
attending the April Production
Clinics" TO be held on three sue
cessive Saturdays, April u, 10 and
26, Hampton II. Irwin, c. l.. L..
who will conduct the clinics, con-
ferred this week with Walter F.
Saved, c. L. IT,, and Walter j.
Pieper, both, = assistant superin-
tendents, Prudential.
The clinics are a progressive
educational enterprise being spon-
sored by the Detroit Chapter of
Chartered Life Underwriters to-
gether with the Associated Life
General Agents and Managers and
the Detroit Association Of Life
Underwriters. The respective
presidents of these three organiZa-
tons, Roy L. Stringer, c. l.. L.
State Mutual; Donald Machum.
general agent, Manufacturers Life.
and William A. Post, Connecticut
General, also conferred with Irwin
TO select and arrange the program.
Case histories will be discussed.
also personal and business insur-
ance needs. as we'll as the aca-
demic fundafentals drawn from
the prescribed c. l. Z. study
courses and Twins 81 years
personal experience as a teachet~
and life underwater.
L. L. Mackey. C. L. l., Home
Life, is the general chairman OF
the committee which is handling
arrangements for the clinics. He
is being assisted by Mildred r.
Ten Brook. secretary Detroit
Chapter: Ann l. Brooks, executive
secretary, Qualified Life Under
writers Of Detroit. Inc; J. RAN
dolph Kennedy, c. l.. L. New
England Mutual: J II. Kennedy,
Equitable: Glen NJ. Reem, general
agent, Guardian Life; s. Alberta
StutSman, Massachusetts Mutual,
and Szwed
The meetings will be held from
$50 TO 100 in the Grand Ball
room OF the Hotel Book-Cadillac.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Mines Net
Seen S1.12 a Share

TORONTO, April 5-Noranda
Mines. Ltd, estimated net earn
ings for the first quarter of the
current year were equal to SLIP a
share. J. Y. Murdoch. president,
stated at the annual melting. This
would compare with net earnings
of S11 per share in the quarter
ended Dec. 81, 1910, and Sill a
share in the March quarter OF
1910
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Steel Mark
Inland Rate, Shipments
At AH-Time High

NEW YORK, April finland
Steel Company produced ingots at
f07 y per cent of capacity IN
March. again establishing a new
high record.
Total output Of ingots for the
month aggregated 30l,3S6 net tons.
compared with a previous record
Of 297 .3Sl net tons reached in
January Of this year.
Shipments during March also ex-
ceeded all previous records.
The annual capacity of Inland
is placed at 100000 net tons.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Comfort Cushion Co.
In Larger Quarters

To meet the demands Of ex-
banding business. Comfort Cushion
Company has moved from its
former location at 5301 Grand
River avenue TO larger and more
modern quarters ar 50S4 Lorraine,
according to Adolph II. LIGHTER
nrosIdnnI.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
An Old Issue

Sometimes this resulted in
broker or dealer advertising call
ing attention TO the alleged de-
STABILITY of an old issue, and
sometimes in the circulation of
mere rumors. With the new legal
and moral restrictions on the
outmoded financial customs, the
need exists TO accelerate the flow
of savings into productive industry
through intelligent, simplified and
honest merchandising.
Since this writer directed atten-
ton TO the new requirements in
his brochure entitled "Streamlined
Financial Statements-For Whom
Does Capital Work ?" in July,
1888, increasing practical use has
been made of the proposed new
intellectual nd merchandising
tools.
specifically, the old Wall
Street manipulative merchandise
ing has been outlawed by the
Securities Act and the Securities
Exchange Act" the brochure
disclosed. However, through
these reforms the problem has
been only half solved. Though
malpractices have to some eX-
tent been destroyed. little prog
ress has been made in replacing
the outlawed system with a
new effective security merchan-
dising.
"The time has come to present
to the public responsible state
ments, sponsored by corporations
and based on honest fact finding.
BY calling attention dramatically
to their operations through pub
fishing short form ABC ae--
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Firms Planning Ahead
For Workers. Security
Already Instituting Plans
to Soften Blow After War Boom
BY Il. c. FORBES

Lines put all OF its profit ISL
SIS, 456) back into the rainy
day fund for two reasons: to
strengthen the jobhOlders' Sc
surity: to protect the stOckhold-
ers' investment"
He explains that every person
who holds a job wants to get the
best wage that can be paid for his
services, but over and above that
the thoughtful person is more in
terested in security, some assur-
ance that his job is regular and
permanent.
"OpiHion Is almost unanimous
that we are facing long and
difficult period of economic adj
justmnet. To survive, to safe
guard the jobs OF our employees,
we have laid aside our profits as
reserve against the uncer-
talnties of the future"
Weirton's Example
Another illustration of fore
handedneSs, of conservation OF
profits TO project employees tano
stockholders when breathtaking
government expenditures end: In
its employees bulletin, Wiertor
Steel observes:
1.-THE business last year
earned $4,000, 1000. So what:
In 1910 labor got S4O,5OO,-
0OO In wages. The owners re-
ceived S5,50O.00O in dividends,
or about 2 per cent on the total
investment. What happened to
the rest of the Sl5,00O,000: 1t
goes back into the business
;. and all of us benefit.
"a reasonable backlog OF
profits put into the business Is
the best kind of insurance for
both employees and stockholders.
Emergencies can be met, pro-
duction can he better main
tanned, and steadier work can be
assured"
The truth Is that American
arrangements are constantly be
coming more thoughtful of then
workers. While wage trends have
been upwards, the wages paid or
savings invested in stocks have
gone down drasticaHy.
Copyright, 1871. b. 3. c. Forbes
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
LIST Detroit Edison S
New Stock on Monday

NEW YORK, April 5.-The New
York Stock Exchange will suspend
from dealings on April Z the De-
troit Edison Company capital
stock 500 par and will admit 10
the list and 10 dealings april 7 the
capital stock of $50 par.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Metal Markets

NEW YORK. April Maximum price
for lead al the prevailing level ~ Us
cents pound New York and probable
establishment Of copper price Ia an selling
sources at y cents pound. Connecticut
Valley rise. were major developments in
nonfertnus metals today.
Concerning lead. Leon Henderson. n p.
A. G. commissioner and head Of price
Sterilization division already has requested
leading producers and custom smelier in
terests not a. sell higher than prevailing
price for lead a. the present quotation OF
IS cents pound New York and ;. 70
cents pound 81 LOUIS
In copper 10 was learned that develop
meuts are definitely heading toward a
uniform price ~ u cents pound IN the
valley. Principal primary producers have
eeep--.a43l4-s+- -stEict+et9 Alice sli-l-i4s- Of
copper at II cents since September q.
1870.
Meanwhile custom shelters have been
p,tanlhg 1873 cents a pound for their
elcrtroIYtic product derived from scrap
intake and purchased or custom ore ard
IN the outside section prices ranging w.
- around 49, cents 70 1875 cents d
pound have been reported Tor nearby or
prompt metal good part of the custom
output is The result ~ scrap copper put-
chased so b. IS quite likely that some tor
figure for such scrap also Viii be estah-
ushed Spread between No. l heavy copper
Wire scrap ard eisctroiytlc price has been
accepted generally as about 5 cents pc
pound
II is also learned Metals Reserve Con
panF has finally taken title "a French
l.--LeE L-LA-n1l- A1-.a- tl--=-. cunt -
since the collapse 81 that nations war
efforfs. Orieinsl tonnage held here VA
about 1huIu mefrict tons and % is Believed
that Title DO any has, been Disposed of,
The amount acquired by the United States
is estimated 10 range between 20. 600 and
- OOQ tons
zinc continued 20 he anoeated on a strict
basis hy principal primary sources at 7 g
rrrfs pNurf Fast 81 Louis
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06

- 80 - - - -
held that post.
Carey h a S
had varied eX-
perience in the
advertising and
s ellin & field.
A f I er several
years in t h G
bond business.
he joined the
Crowell Collier
p u b lis h n &
Company a n d
spent the last
six of his 15-
year association
in Detroit.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Plan Nash Victory Dinners

Nash dealers and distributors
are planning a nationwide series
of victory dinners" during April,
to celebrate what now promises to
be the biggest first quarter sales
record in the history of the COM
Dany.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Coebel Announces
z Promotions
Carey Is Appointed Neu
Sales Head; Ram0Ser
Also Mored Up

Appointment of Charles +.
Carey as general sales manager
of the Goebel Brewing Company
has been announced by Edwin j.
Anderson. new president and gen.
oral m q n a O q T Mhn formerly
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Business
Banks
Brokers
BY WARD SCHULTZ
pstrot Time, Financial Eoi,or

The citNss oldest name IN trans
partation Detroit and Cleveland
Navlg cation Company-takes on
added significance with the reYela-
tlnr tEaf n VIII now sfand for
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06

President Anderson also an
nounced the promotion of Paul
Ramoser. for several years assist
ant sales manager, TO the position
of sales promotion manager IN
charge of the Goebel expansion
program. The company is already
selling in states representing over
so per cent of the nations popu-
Ia+i1p
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06

NAAlA t.Nft
year around
service.
Even before
the Great Lakes
we're open for
shipping this
SPRING tn g
company Ia d
completed its
plans fer next
Fan
be largest
Gm of pssen-
Ger and freight
steamers L. OPP
crate on the
lakes has been
supp len7euted
Acct Of
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Directed to Customers

bfFeCted 10 )uAOFneTS
An especially effective utiliza-
ton of this new technique was re-
Gently made in a full page finan-
cial advertisement by the Dallas
Power and Light Company, which
appeared in three local newspapers
in that city. This report was d.
rected especially TO customers.
Several other companies, includ-
ing the New York Life Insurance
Company and the Equitable Life
Assurance Socicty,-ttsed adVerts-
ing space TO merchandise their
new humanized annual reports.
They were following the advice to
use advertising ito sell the bust
ness as well as the product
An interestig Sidelight was pre-
scented in a message to this column
from an officer of one of the in
surance companies, who pointed
out:
1.-THE letter of the president,
together with additional statisti-
cal data on the company, will be
sent to policyholders as book
let when their premium notices
are mailed to them, and il will
also he sent to any one request
ing il. We find. however, that
il is more economical to publish
the letter as an advertisement
In newspapers whose calculations
cover the principal territories
where the company's policyhold-
crs are located than to make
special and separate mailing to
each of the company's two mil
lion policyholders in advance of
their premium notices.
by publishing the fun text of
the letter as a newspaper ad, we
can effect substantial saving
as compared with the additional
cost of printing, postage, en-
velopes and addressing that
otherwise would he involved"
Factor in Situation
Since the brochure was written
a new factor has entered the
situation. The recent sharp in
crease in corporate taxes, includ-
ing the excess profits tax. in ef-
feet enables a successful company
TO buy institutional advertising at
what is tantamount 70 a sub
stantial discount This results
from the fact that the increased
expenditure correspondingly re-
duceS the net income, or profit
subject TO tax.
Thus, inasmuch as the govern
ment foregoes part of the tax, II
in effect becomes a Joint partici-
pant in paying for the promotion
accountants have computed that
the discount" might run as higf
as 61.3 per cent.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06

Foresight entered into the build
ing of almost every American for
tune, into the establishment and
development of our most success
full employment-giving enterprises.
Already enlightened executives are
looking ahead to the day when
our present artificial prosperity
will collapse, and are instituting
plans and policies calculated TO
soften the blow, especially for
their work folks.
We all know how tragic were
the conditions following the burst
ing of the last boom: unemploy-
ment spread heartbreakingly, Sc
curity owners suffered staggering
losses, bankruptcies became ram
pant, the public debt was multi
piled to provide relief, many
families lost their homes, insurance
policies had TO be dropped, misery
reigned.
Reserve Funds
Fortunately, many companies
had prudently accumulated reserve
funds during the roaring twen-
ties" They were thereby able to
pay out in wages during the dis
tressful days and years far more
than they were taking in. Matthew
Vol. able vice president of the
American Federation of Labor,
states:
Competent and reliable stud
les indicate that industries that
had saved or set up reserves for
the period of 1919 to 1929, total
ing some S34, OO0, 200, 900, during
the years of 1890 to 1885 had
paid out S34. 1000, 100000 more
than they had received.
ut must be apparent that a
situation which discourages or
does not permit the setting up
of reserves is neither helpful TO
the wage Garner nor of benefit
to the public generally. In the
long run the continuation and
extension of such situation
spells disaster to all, including
the government"
Rebuilding at Last
The depression lasted so Ions
that relatively few corporations
had opportunity to rebuild sur.
pluses TO their former maximum
But vigorous efforts are now be.
ing put forth by forward-lookinl
arrangements, a fact containing
genuine comfort for workers.
After all, our strongest concerns
naturally can do more for THEN
people than can weak concerns
when hard times befall-just as
the individual or family that has
saved can weather a storm better
than those who habitHaily spene
every penny.
A lucid. Illuminating statement
comes from the heroic Capt. Eddie
Rickenbacker, World War ace
now president or Eastern An
Lines-and, happily, making g
valiant recovery from his recent
critical injuries.
In his annual family confer.
ence' ne tells employees:
During 1910 Eastern Air
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06
Toronto Stocks

Quotations supplied by Bongsrd & GO
Windsor. Prices in cents. Closing quota
ions
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-04-06

counting figures, companies can
legitimately and effectively mer-
chandise their outstanding Sc
curities on the basis of truth,
rather than on unreliable bally-
hoo. Such advertising would
reach not only owners of securi-
ties of the corporation, but also
other investors who might have,
savings available to place in
such securities"