davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Profit Seen
For Railroads
Estimate Al Net Around
SOB Millions; Heavy
Loadings Factor

NEW YORK. March 22.-The
present rate of business activity
and the prospect that business
will continue TO be well maintained
at this rate during the remainder
of this year indicate that annual
freight car loadings may rise to
100000 in 1941 from 80, 354 900
in 1910, according to the AleXan-
der Hamilton Institute.
On the assumption that freight
rates will remain at the same level
this year as last year, the estima-
ted increase in the volume of
freight traffic should result in
railroad operating revenues rising
from S4,297 100000 in 1910 to
S4.672 100000 in 1871.
l. the railroads operating reve-
nues in 1871 should reach this eS-
timated figure, railroad profits
this year should amount to S303,-
100000 as against $l91, 100000 in
1910. This year thus promises to
be the most profitable one for the
railroads since the recovery from
the depression began. Profits this
year, however, will still be well
under the pre-depression figure of
1897, 100000.
Before the railroads can increase
their profits to the pre-depression
level. they must have a much lar
ger volume of traffic than is in
prospect for 1871. Freight cars
loaded in 1929 totaled 81 $4,000
as compared with the 100000 in
prospect for 1871.
1t is apparent that the necessary
increase in the volume of freight
traffic cannot be secured under
present conditions without lower
level of freight rates. Freight
rates. however. cannot be reduced
to any extent without a reduction
in wage rates and it is evident
that a reduction in wage rates is
far from probable.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Paper Co. TO Sell
Issue Privately

NEW YORK, March 22-Inter-
national Paper Company has
nearly completed negotiations for
the private sale of a mortgage
bond to insurance companies, the
proceeds of which will be used to
refund the company's outstanding
bank loans and the Al per cent
bonds of the Southern Kraft Com
pany. a subsidiary.
The total amount of the new
issue will be something over $50
100000. The company's bank loans
we're reduced last year until they
now stand at between 100000
and $4,000, 900, while there are
roughly 100000 of the South
ern Kraft AIS outstanding.
The interest rate on the new
bonds will probably be a little
under the average interest on the
bank loans and the "A s. While
the interest saving will be COM
paratively small there are col
lateral advantages which make the
transaction advantageous to the
company.
The new bond Will be an OBJ
legation of the international Paper
Company and as part of the
transaction, the Southern Kraft
Company will be merged with
International Paper Company.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Graham Makes
New Start in
Parts Business
Sees Return to Profit
Side as Backlog
Reaches $1o,5O0, 900

Graham-Paige Motors Corpora
ton. after II years of costly COM
petition in the business of produc-
ing and selling automobiles. has
made a new start in a new bust
ness-that of manufacturing mo-
tor parts for the aviation, marine
and automotive industries.
WiLh-S19,500,000 in orders for
aircfaft ana marine engine parts
and naval ordnance parts on hand,
the company feels that it is in a
far better position to predict prof
liable operations than in previous
years when motor vehicle sales
were so largely indeter1ninate, sell
ing expenses and raw material in
ventories so high and market so
competitive, according to J. b.
Graham, president.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Metal Markets

NEW YORK March 22-Actlvisy IN The
lead market on the final day Of the week
vas confined 20 clearing up OF routine az
fairs and only q few carload lots changed
hands Price is FIRM AZ rs % $50 cents
pound delivered New York and $50
cents q pound 81 Louis
There was MT much doing IN the copper
division with principal primary producer
continuing strict ALLEGATIONS AZ II cents a
pound delivered Connect icut valley. Gus
tom snelters reported quiet a. i2ik cents
2 pound 10 the valley, while outside mar
ket was dul - H. 20 13 cents a pound
fer ffiE quarter delivery and az IN cents
Il 12H cents pound f9r fourth quarter
ShIur.enf
Market far expori copper wks quiet with
fore N metal ln custom sources numinally
quoted 81 10N cents a pound 2 a p. View
YORK a large primary producer ~ for
eiFn copper continued to quote y cents a
pound + a. p Few YORK.
I1rC fIFuhFI7n EIowed NJ particular
change with leading primary sellers al 2
hering 20 policy o. strict Tationiug at 1.25
cents = pound. East 81. Louis.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Outlook Brighter

Winthrop Manden of thu Curb
Exchange, who visited Detroit
last week. contends that the most
encouraging part of the broker
age industry's picture is that those
in il are beginning to realize that
they have to get going and dc
something.
While he comedies the need for
aggressive leadership. he says that
merchandising and advertising are
the real keys TO the situation. He
points to the recent trend to "twi-
light" sales as proof that stocks
can be sold when there is a profit
motive. An increased commission
on a percentage basis would be a
big help, he says.
And, incidentally, a Big Board
Curb merger is Just not in the
cards, Mandell contends.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
.Drewrys Ginger Ale
AID Counsel Appointed

L. p. Hicks. president of Liv-
Observation-Disclosures Advertising
Agency. announces the appoint
ment of his agency as advertising
and merchandising counsel for
Drewrys Dry Ginger Ale, Inc, bot
tiers of a complete line of soft
drinks. Fifty bottlers through
out the United States are expected
to be distributing Drewrys bever-
ages by May !.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Utility Authorized
To Buy Own Bonds

WASHINGTON. March 22.-
The Interstate Power Company
has been given SEC authorization
TO purchase from present holders
S2.740 900 Of its own first mort
gage 5 per cent bonds. due 1857,
al, a price of 70.
The comission pointed out that
the company had recently sold
some Of its Nebraska properties
and, being without the income
formerly derived from them. de-
sired 10 use the funds to reduce
its annual interest expense.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23

Coca-Cola lost over 2 points and
Johns Manville points. Crucible
lost over a point in heavy mar
ket for steel shares. Dupont waSl
down more than a point.
Servel was active and eased TO
a new low, following distribution
over the-counter yesterday of a
block Of $4,000 shares.
Declines prcdominated else
where in such groups as the mo-
tors. chemicals. aviations, coppers,
shipbulding shares, oils and rail
equipments. Rails were mostly
steady
In the bond market, United
States treasures were quiet, high
grade corporateS little changed
and foreign issues dull. The curb
market eaSed moderately although
a few issues lost one TO two points.
Gulf Oil an exception, advanced
fractiOnally.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Stock Market
Shows Losses
Sd Day in Row
Some Higher Priced
Issues Off l to q
Curb Follows Drop
international News Service Wire

NEW YORK, March 22.-The
stock market reacted today for
the third successive day. Declines
ran to points and more in some
of the higher-priced issues.
Feature Of the dealings was a
block of 10000 shares of United
Corporation common at l, the low
for the year. There was profit
taking in the recently buoyant
preferred stocks, with Common
wealth and Southern preferred off
over a point and the Standard Gas
issues down.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
1910 Loss SI,4S4,I50

Suspending motor car opera
tons in July, the company in the
year 1910 had a net loss of 81 asa,
$50 against $1.406,627 in 1889. The
loss last year resulted i. largely
from lack of sufficient working
capital to maintain continuous OPP
erations. 1t also reflected write
offs of tool S and dies w h h
became unnecessary when the COM
pany suspended automobile manu-
facture and a loss incurred in the
sale or service parts inventory.
The new tools required for the
manufacture of defense engine
parts and other production are
being obtained. largely by lease
from the Defense Plant Corpora
ton, while the working capital
required to finance materials and
pay rolls is being obtained by adj
vances from the Reconstruction
Finance Corporation and major
customers. With much of the
surplus plant sold or leased to
other manufacturers. the COM
pany's fixed overhead plant costs
have been substantially reduced.
Administrative costs also are
lower due TO the changed char
acter of the company's business.
Operating losses will be Sus-
tanned in the first quarter, but the
present outlook, officials believe,
is for break-even or profitable
operations in the second quarter
and a first half loss considerably
below the S546,642 deficit reported
for the first half of 1910.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
See Shipment Gain

Already in limited production on
some items, the company's ship
Iments by the end of May are
scheduled to be running 100000
a month, S500.0O0 month by the
end of July. $750.000 a month by
the end of January and $1,000,000
a month in the early Spring.
Backlog is comprised of a S10,-
100000 sub-contract from Wright
Aeronautical Corporation for con-
Meeting rods and articulating rods
for the 1,400 horsepower Cyclone
engine, TO be built by Wright in
the new Cincinnati plant; more
than $5.000,0O0 in initial orders
for parts for the Sterling Engine
Company 1900 horsepower Ad-
miral naval mosquito boat mo-
tor; 100000 for naval gun
parts, and 81, 100000 miscellaneous
aircraft and marine engine parts.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
On Fifth Avenue

eyes, but I'm keeping close
watch on them now. III they try
any more rough stuff, I'll grab
them. But, you know, i have
to be very careful. Unless l
actually see them commit a
crime I can't do a thing IL no
body they attack will prefer
charges and appear in court
against them"
That is what is happening or
the principal street in the prin
cipal city of the United States
Fifth avenue, New York.
How do you like it?
From childhood up. my parents
taught me to obey the law. be
Heve in law and order-as / an
sure YOU do. / can't remotely
reason why membership in an.
union or Ku Klux Khan or an,
other organization entities ont
citizen TO threaten or beat vi
another who goes about his busl
ness quietly, interfering VIII
nobody.
ANY labor leaders who endors'
high-handed intimidation or bruis
ing of law-abiding citizens surel.
are-or at least should be-ridinl
for a fall. Is not our government
avowedly consecrating itself, with
out counting the cost. to preserv
ing freedom Of the individual?
This being so, should such con
duct as here reported by tolerated
20 unpublished at home?
You answer.
Copyright. 1871. by b. c. Forbes
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Aid to National Unity

To the extent that better ac-
counting makes the actualitieS OF
corporate business ineligible to
workers, stockholders, customers
and the public generally. it will
contribute to national unity during
the present emergency.
II the United States is to mobil-
ize its full strength, it should not
be diverted by shadow boxing or
by theoretical fallacies and mis-
understanding.
AS public sentiment and the
trend of the law widen the field
for collective bargaining between
unions and management it is inn
portant TO provide negotiators for
labor with fact-finding tools. Fol-
without adequate information it is
difficult, if not impossible, to bar
gain intelligently.
The man who knows speaks with
double authority at the conference
table.
Likewise, federal mediators, who
armed themselves in advance with
significant factual material con-
corning the history of the corpora
ton involved, wage and general
economic conditions in the dis
trict affected by a strike, and
other relevant data, find their
capacity to adjust differences
heightened
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Double Authority

AS accounts are clarified, the
outsiders see the truth-the bad
as well as the good. Accordingly
the streamlining of accounts is
really advisable only for honest
and competent management, which
has nothing TO hide.
In our economy of specialized
labor, we have developed CO.
operative spstem of production and
distribution, in which free initia-
tive of creative minds is encour-
aged. But the system is not pure
individualism. The modern cor
poration is essentially a co-opera-
tive enterprise. In companies
where customers are also stock
holders. the corporation closely
resembles the European co-opera-
tive. These points OF similarities
are overlooked by theorists who
are fooled by labels.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Dept. Store Sales
Show Slight Upturn

NEW YORK. March Pied
eral Reserve Board estimated that
department store sales in the week
ended March ID We're Z per cent
above the corresponding week last
year. In the week ended March
s sales had been even with last
year and in the four weeks ended
March - sales averaged 81 per
cent above year ago.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
N. Y. Bankers PIedqe Aid

NEW YORK. March 22-Dr
W. Randolph Burgess. president
of the New York State Bankers
Association. has advised Secretary
of the Treasury Morgenthau that
members of the association stand
ready TO give "all out" aid in the
marketing of national defense
bonds.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
New Officers
w. O. Gamble viii Head
Casualty Executives

W. o. Gamble, assistant man.
ager Of the Detroit office Of the
Zurich General Accident and La
bility Company, has been named
president of tn e Casualty and
Surety Executives Association OF
Michigan.
Other officers elected at the last
meeting are Vice President r. X.
Kleene. resident manager of the
Globe Indemnity Company OF De-
troit, and Secretary Treasurer
Karl Preston. resident manager OF
the New Amsterdam Casualty
Company of Detroit.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Goodbody Absorbs
Western N. Y. Firm

NEW YORK. March Good
body & Co, members of the New
York Stock Exchange. will take
over at the end of the month the
Buffalo. Rochester and Niagara
Falls offices of Abbott, Proctor &
Paine, together with the latter
firms producing personnel.
After the consolidation. Albert
r. Wright. at present a partner in
Abbott, Proctor & Paine in the
firms Buffalo office. will become a
general partner IN GO0dbody x Co
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Business
Banks
Brokers
By WARD SCHULTZ
petroIt TIme. F.InaneIaI EdItor

Detroit Times Financial Editor
Although the recent static con-
dition of the stock market would
seem to indicate that il had def
nitely lost its appeal. as far as the
general public is concerned. the
facts prove otherwise.
And the figures recently re-
leased by the TNEC that only
$4,000 persons had incomes
in excess Of IS 600 IN 1888 would
cad one 10 believe that the ma
tons stockholders were concen.
trated in the hands Of a chosen
few. This also is exposed as a
falIacy.
Since the first quarter Of 1929,
the number of common stock
holders in 50 typical corporations
listed on the New York Stock
Exchange has increased from
1.647.6S0 10 1863. GA.
And these companies were not
hand-picked either. The list in
cludes such firms as United States
Steel New York Central, General
Electric. and American Telephone
and Telegraph-all firms which
had approached their present size
by 1929
An SEC report went step fur
Their and showed that the average
holding of common stock in this
country at the end of 1897 was
$500 per person and of pre-
ferred shares, about $500 per
person.
approximately 50 per cent Of the
common stockholders held less
than 100 shares and the proportion
of preferred holders was 80 per
cent. While these snail sharehold-
ers possessed only IS per cent Of
the total value of the common
stocks and about % yer cent of
the preferred. never theless, it
shows that the interest in Aneri-
IAN industry is pretty widespread.
1t also proves that the present
market doldrums are not due to
lack of confidence in industry by
the American public, but rather
TO extraneous factors.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
SIGNS of the Times

Even a. National Cash Regis
ter announced blanket increase
of s per cent in its products,
ding electric refrigerator
manufacturers quietly marked
up their prices about IS per unit
-. Output of fabricated magne-
SUM products by American Mag
nesium In March will top the
eutire production In the year
1888 -. The cost OF hOmebuild-
ing increased 8 per cent IN the
last 12 months. the. shsrpest rise
since the World War. when costs
jumped 100 per cent In 4 years.
=. To conserve rubber. Goodrich
i making a Junior garden hose
that uses only half A. ffttif
rubber but has 20 per cent of
the capacity Of full-sized hose.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Nehi Expands 1941
Advertising Program

j NEW YORK. March 22.-Sales
Of Nehi Corporation for the first
two months are in y excess Of .
per cent more than the same
period last year, c. c. Colbert.
president. announced today. Nehi
advertising for 1871 has been ex-
panded and includes an eight
months campaign in more than
725 newspapers, he said.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Assigned TO Home Office

Wolverine Tube Company an
nounces that Robert r. Moody of
the sales engineering staff has
been moved TO the home office
at Detroit. For the past II
months, he has travelled in the
middle western states making his
headquarters in Chicago.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
February Retail Auto
Sales Well Over 1910

Retail sales OF new motor vehi-
cles in United States during Feb
raary totaled 345.551 cars and
74.670 trucks. according TO the
automobile Manufacturers Associa-
ton. In February, 1910, retail sales
totaled 236,S57 cars and 47156
trucks
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23

was lie G d
pre- 81 d g n {, it
was announced
Sat u r d a y by
c ! a + k j.
Mickey. assist
ant to the presi-
d e n t of [ h e
exchange.
Other officers
of the grou p
are: Will am
NJ c F a w n o T
Cray, McFawn
& Co., vic e
president: Ruby
j. = ar s o n s,
Baker Simonds
q Co. sc or e.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
See LOADING Gain on Coast

LOS ANGELES, March %
Pacific Coast Transportation Ad-
visory Board estimates second
quarter carloadings in California,
Nevada and Arizona will be &c
per cent higher than in the like
1910 period.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
New D. and n. Directors

NEW YORK. March Paul
Bedford and Albert K. Cluett
were elected directors of the Della
ware and Hudson Company TO fill
vacancies caused by the death OF
Gates w. McGarrah and the
resignation Of George w. Murray.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Regular Quarterly
Voted byShdkespedre

KALAMAZOO. March 22.-Di-
rectors Of Shakespeare Company
have declared the regular quarterly
dividend of 10 cents a share, pay
able April Is to stock Of record
April s..
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23

tary, and Dawson Macy, Grouse &
Co, treasurer.
Elected to the executive COM
mittee for three-year terms were
Sidney j. Forsythe, Baker Simonds
& Co, and Armin II. Vogel A. II.
Vogel & Co.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Dividend Of IS Cents
By Campbell, Wydni

MUSHROOM. March 21.-
Campbell Wyant and Cannon
Foundry Company has declared a
dividend of IS cents a share, pay
able April Is to stock of record
April d. A year ago a similar
amount was paid.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
New Bond Offerings
Move Lower in Week

NEW YORK, March 22.-New
bond offerings this week amounted
to S56,630000. against S59, $50, 900
last week and So. 066 434 last year,
il was reported today.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
SC General Finance Dividend

General Finance CORPORATION has
declared the regular Quarterly
dividend of 5 cents. payable April
Is to stock of record April l.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Flags Labor Unions.
Strong-Arm Tactics
Says Pickets Must Respect Citizens
Rights; Cites New York Incident
BY b. c. FORBES

you'll probably be interested
to know that boy delivering
goods to that store was badly
beaten up" he related.
what did yea do about IT,
I queried.
81 didn't see the assault and
I arrived just as IL was over,
attracted by a crowd. took
the poor young boy and the gny
who was pointed out as his chief
assailant into the store and
began to ask them questions.
The poor kid was so frightened
that he couldn't talk. 1 couldn't
get him to press charge"
80, the thugs got off" l
asked
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Officers Named
By 'Ex' Cashiers

At the annual meeting of the
Association of Cashiers of the De-
troit Stock Exchange firms, JAS w.
Crawford, Moody, Bollinger & Co.,
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
Interprets Data

Interpreting the significance o
these data, the executive, il
Printers Ink, adds:
Reduced to such common
terms il is evident that the
interests of the customer, the
stakeholder and employe are
complementary to each other,
and not antagonistic.
ut il with these groups, SIM
pie i'm their relationship through
large numbers, that management
has to deal.
"Our philosophy is that ii is
our duty, as managers of the
property, to treat each group
fairly in relation to the others.
I'VE must give our customers
not only value and quality, but
an ever widening variety and
improvement i'm our products.
1--WE must give our stock
holders fair return on the
investment which they have en-
trusted to and risked with us.
I'VE must give our employees
fair wages and good working
conditions.
But management must do
more than this. 1t must be crea-
tive. Before the product must
come the idea, the inspiration
for the product. without such
an idea there would be no prod
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23

NEW YORK. March q. -(INs) Total
sales today.
stock Exchange stocks. go 600 sharesi
bonds, 81 270. 600
Clrb Exchange stocks. As. 900 sharesi
bonds $500. 000.
Biz board sales throu ghout the day;
Open 10 IL 90 40 600 shares
IL 90 10 close 100 900 shares
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23
'Streamlined' Adults
Denote Modern Firms
Continental Can Co. Latest Convert
to Short-Form Accounting
BY MERRYLE STANLEY RUKEYSER
international News Service Economic Commentator

uct. Therefore. the success of
management depends upon its
ability TO create, select and fos-
ter new ideas"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-23

1t is happening here, In New
York.
Emerging from a small shop in
front of which a union member
was parading with placards, / was
tackled by two men.
1--WE don't want you to go I'm
here again." one of tn e m
brusquely told me.
i was taken aback.
Understand, fellow, we don't
want you to go In there again"
I'm free citizen; can't
go where 1 like so long as l
don't interfere with anybody"
l asked.
Were telling you not TO do
it,"
"Are you threatening me ?"
"You try to 20 in again End
see what will happen to you.'
A policeman was on duty few
yards away. I briefly related the
incident to him and suggested
that he ask the intimidator just
what ne ndu Sdlu W llle.
The Insult Supreme
When the officer did, the chief
threatener-there were two oil
them joining in the conversation
said. most Indignantly:
sHe said to me that he was
a free citizen"
With that he shrugged his
shoulders to indicate that l had
grossly insulted him.
"He said WHAT" asked the
guardian of the law.
"He told us he was n free
citizen"
isn't he:" demanded the
policeman. Turning to me he
asked. "tell me exactly what
they said to you.'
'1ll leave il entirely up to
them to tell you. | don't want
you to take my version
The upshot was that the officer
warned the pair that if he found
them threatening anybody else,
I'll bag you
Row RenfPn