davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30

Large corporations and insti-
tutions are already sending per-
sonal representatives to universe
ties 10 look over the June gradual
ing group with a view to picking
the most promising material.
Notwithstanding the greatly in
creased demand, the actual num-
Der of graduates given jobs may
this year be fewer than usual, be-
cause of the draft. Most students
are at least 81 before finishing.
Therefore, they are in line to be
called for military training.
AS a matter of fact. the govern
ment has not been keen to enroll
college students who have volun-
teered. President Roosevelt -
wisely - has favored permitting
youths TO graduate before being
drafted. After all, peace will one
day comet always has-and in
these increasingly complex, COM
plicated times, it is more essential
than ever before that the nation
raise full number of thoroughly
educated OncOmerS.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Manufacturers Orders
Double February, 40

WASHINGTON. March 90
Manufacturers new orders in
February were more than double
those of February, 1910, the Ma
tional Industrial Conference Board
estimated. The board reported an
increase of 1o3 per cent in orders
over the previous February, and
5 per cent over January, 1871.
Manufacturers inven tories
gained AS per cent over the pre-
vious February and Is per cent
over January. Their shipments
were 80 per cent heavier than in
the previous February. but l per
cent smaller than in January.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Confidence Rewarded

A single paragraph in the Cen
efai Motors annual report marks
the conclusion of the National
Bank of Detroit's officers stock
bonus plan.
II was originally set up when
the bank was opened in order 10
enable officers to acquire an in
terest in their own institution
without going into debt.
The GM report shows that the
final years distribution was $500
shares sold for Ss9.424 or $3.50
Il share which Leaves GIN with 81
per cent Of the stock. Taking into
account the stock dividends. this
approximate the original Offering
price.
II Is only fair 70 point out that
General Motors held the books
open for the Detroit public for
more than a month AZ that orlgi-
nal offering price and on the open
market. stock could have been pur-
chased az even more advantageous
levels for more than d year after
the bank was founded
Under the plan. officers Of the
bank were entitled TO invest their
bonuses in the stock. or could elect
TO take the cash.
II is natural tnat as the value Of
the shares climbed they would
elect 10 take, stock. but the records
prove that there was 100 per cent
confidence IN the banks future
right from the start. They deserve
everything they got. says We.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Uniformity in Laws
Held Business Aid
Rule-M Making Authorities Urged to Set
Up Specific Guide Posts
BY MERRYLE STANLEY RUKEYSER
International News Service Economic Commentator

careful cooperation of employers.
employees, and others experienced
or skilled In the problems in
volved. But today too many of
these rule-making agencies pre-
fer not to pursue the difficult
course of responsible determine
ton of the facts and formula
ton of the rule, but rather to
keep their power of interpreta-
ton of the Legislatures general
standard for discretionary appli-
cation to individual instances as
they arise"
Parkinson has been confronted
with the falling wages of capital
the decline in interest rates. II
seeking to meet the situation
Parkinson has sought sound. j
unpopular, groups of securities
When public utilities were in thu
political dog house, he Dough
large blocks of underlying bond
of power and light operating com
panies. Later. when the RATS werI
avoided by others, he undertook t
find advantageous acquisition
fEenE he railroad list
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Hits SEC Proposal

Parkinson has expressed opposi-
ton TO the proposal by Sumner
T. Pike, member of the SEC on
the temporary national economic
committee. that the life companies
be permitted cautiously TO invest
a limited quantity of policyholder' S
funds in common stocks.
AS an offset to low interest
earnings, Parkinson in his own
company is seeking smaller deduc.
lions for such income for overhead
Declaring that his owr
company had continued efforts tc
curtail expenses, the executive
added:
There has been a further ex-
tension of budgetary control,
and we are able to report
further reduction in expenses in
1910. Total administrative ex-
penses, exclusive of commissions
and taxes, incurred by the soci-
ETY. during 1910 were S517.764
less than in 1899. We continue
to emphasize savings i'm expanse
not only because of the benefit
to our pOlicyhoiders but also as
an institution of thrift. urging
others to make sacrifices for flu
ture purposes, the Equitable
should set an example. What
applies in this regard to the in
dividual and to institutions such
as this, applies to governments
as WELL"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Declined in January

1t Is true that funds derived by
foreign countries from the sale of
merchandise TO the United States
J iiffffiieieiit
finance the amount of goods pur
chased despite the curtailment of
buying which the January export
trade figures of the United States
revealed. The value of merchan-
disc imported into the United
States declined TO S22S,000.000 in
January this year from S242, 000,-
900 in the corresponding month
last year. Imports this year were
thus valued at S97,000,000 less
than exports.
Shipments Of gold and silver by
foreign countries to the United
States in January however were
more than sufficient to finance
the excess of American merchan-
disc exports over imports. Net
imports of gold and silver into the
United States in January amounted
to S23S,000000, or Sal. 100000
more than was necessary to meet
the excess of merchandise eX-
ported from the United States
oxtar tho amount Ifa4s.rf4aH
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Pere Marquette
Earnings Soar

CLEVELAND, March 29.-Re-
fecting the high rate of industrial
activity particularly in automo-
biles and the resulting increase in
freight movement, gross revenues
of the Pere Marquette Railroad
for the first quarter are expected
to be the largest since 1880 and
the roads net income for the
period will probably top 1000
for the first time since 1929.
A net of this amount would
equal about SO a share on the
10000 outstanding shares of 5
per cent cumulative prior prefer
ence stock. In the comparable
period of 1910. net income was
S425, 0S3 or S379 a share on the
prior preference stock.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Court TO Study
Akron Rail Plan

CLEVELAND, o.. March %
Following a hearing on confrma-
ton of the reorganization plan of
the Akron. Canton and Youngs-
town Railway. Judge Paul Jones
of Federal Court here took the
matter under advisement.
At the hearing on the plan.
which has been approved by both
the ICC and + deral Court,
Gardner Abbott represented the
roads common. stockholders. He
contended that in view of better
earnings the plan should be
amended TO provide greater
equity for common stockholders.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Just Plain 1922

"This j. No. 1922 calling.
The voice on the phone was
penitent. The man was call
ing one Of the local draft boards
TO explain that his mail had
remained unopened fer several
DAYS and his questionable. due
In the day before, had just been
discovered.
That's liable 10 happen TO any
one" said the draft board official
politely. "WeH give you to
April /.
"Neyer mind the April L. said
the potential selectee thankfully.
"Just give me 81 hours"
The questionable is In and the
draft official now knows that
No. 1022 is Charles T. Fisher
Jr., 34-year-old president of the
National Bank of Detroit.
married with five children.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30

Foreign countries thus had an
excess of funds in January which
could have been used TO make
larger purchases of American
goods. Furthermore, foreig n
countries had a large supply of
funds in the United States which
they had previously accumulated
Ever since the beginning of 1884
the combined ipalue of merchan-
disc, gold and silver imported into
the United States has exceeded
the value of merchandise exported
from this country.
Consequently. it may be eX-
pected that, despite the setback in
January, the tendency will be for
the export trade of the United
States to continue the expansion
which was evident in 1910 This
is particularly in prospect because
of the passage of the lease-lend
bill providing aid TO Great Britain
and the intention of the United
States to finance this aid to the
amount of $1,000 000. 900.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Not DoWnheorted

4 don't find that the right types
of students about TO reach work
age are downhearted. They have
read about what myriadS of other
young Americans, starting less IA
vored. have accomplished. They
have faith in themselves. All they
as is a chance-and most of them
are not choosey-to prove their
worth.
Gone is the day when the ma
jority of graduates aimed solely
at entering one of the professions
or at entering Wall Street. for
merly too often referred to as
Easy Street. "
Increasing numbers are not al
lowing the prospective possession
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Foreign Trade
Setback Seen
As Temporary
Nations Have AIDE
quate Funds Here
to Buy U. S. Goods

NEW YORK. March 29.-The
year 1871 started with the export
trade Of the United States run
ming below the level of a year ago,
according to the Alexander Hamil-
ton Institute. The value of mer-
chandise exported from this coun-
Try declined to 1925. 100000 in
January from S370.000000 in the
month last year.
decrease of 122 per cent.
Apparently, the only funda-
mental reason for this curtailment
was the disruption of the normal
channels of trade by the European
war and the blockade. From the
standpoint OF the ability TO pay
foreign countries were evidently
in a position TO buy a much larger
amount of American goods.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Overemphasized?

i there such a thing a. over
emphasis on safety
Officials Of one Detroit plant
are wondering about that IL
seems that they had inaugurated
a prize or premium system TO
improve the company's already
outstanding safety record. II was
something on the order of those
prize sales contests--yOu know
points. etc.
Well. ali went we'll until one
of the men in the department
that was leading the entire fac
tory had a mental lapse and got
himself ALL cheWed up.
Only quick action on the part
Of the foreman prevented a
Iynching party when his com
rades rNaliked how many points
" dai tost them.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
u. 5. Spending
Tops Billion Sd
Month in Row
Further Rise Likely
Due to Passage of
Lease L end Bill

NEW YORK, March 29.-De-
spite the fact that government ex-
penditures in February exceeded
81, O00,0 100000 for the third con-
secutive month, they were below
the rate which must prevail dur
ing the remainder of the current
fiscal year if annual expenditures
are to reach S13.302, 100000 as
provided for by the budget, ac-
cording to the Alexander Hamilton
Institute.
Since S7.370.000,0O0 was spent
during the first eight months,
s., 932, 100000 must be spent dur
ing the last four months. This
means average monthly expendi-
lures of S1,4S3, 100000 during the
last four months as compared
with the SLOT, 100000 spent in
February.
Consequently, it may be ex-
pected that considerable increase
in the rate of government spend
ing will occur during the re-
mainder of the year. In fact, 1t
may show an even greater increase
than the estimate based on budget
figures. The budget did not take
into account the $1,000, 900 900
which will be spent-to finance the
leaSe-lend bill. The prospect Is,
therefore. that the government will
incur a much larger deficit during
the last four months Of this year
than it did during the first eight
months.
On the basis Of the budget alone.
the average monthly deficit during
the fast four months of the cur
rent fiscal year Will be 1851, 000,-
600 Whatever money is spent to
provide aid TO Great Britain will
be in addition TO this deficit esti-
mate. 1t is thus evident that the
governments financial operations
will have a much greater infia-
tionary influence during the com
ing months than they have had up
TO the present time.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30

>
doubt as to whether they are COM
plying with the law. This conStl-
tutes one more barrier TO confident
normal behavior in the realm OF
business expansion and investment.
"As one businessman" said
Parkinson, who was formerly a
law professor at Columbia Uni
versity and also a practicing at
torney."I do not quarrel so much
with the concentration in adj
ministratiye officers of powers
which our constitutions were at
such pains TO leparate, as with
the manner i'm which the powers
are exerciZed. III the rule-making
authority were to proceed as L
think the Legislature intended
il to proceed, that is, to investi-
gate, collect, analyZe and inter-
pref the facts, confer with the
interests affected, and formulate
and publish reasonably definite
rule, / think the business world
would be grateful for the re-
sulting certainty in the law.
Careful Cooperation
THAT is what administrative
rule-making authorities d d
when their power was doubtful
and they were on trial, as, for
example, when the New York
Industrial Commission, acting
under delegated power, made its
safety rules as the result of
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
A New Packard

Get ready for a new and ultra
modern Packard.
Yes. the news was revealed IN
the companys annual report.
"our new model cars intro
duced in the Fall of 1910 have
been well received. However, we
determined that the addition of
newly styled Packard car To
our line, which would represent
a distinct departure from ira
ditional Packard styling, was a
desirable forward step toward
further increasing the demand
for our cars.
Accordingly, we have been
working for some time with in
dependent stylists and designers
TO this end. We are beginning
production Of this new Packard
car. We believe that we have
been successful in creating a
very desirable new style cycle
for Packard"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Talk to Graduates

The best talk to prospective
that l have lately come
across was that made by Alfred
president of the i'm
portant Link-Belt Company of
Chicago, to graduates of the first
class of cooperative students oil
the Illinois Institute of Tech
nology.
1.-THE cooperative course of
mechanical engineering which
you have just completed, has
given you the best means of
acquiring a broad foundation for
a useful, practical life. Your
objective, of course, will be to
succeed. But what lines will
YOU follow to reach the top?
II make bold to say to you
now that 1t doesn't matter much
where you start. No crystal
gazer can forecast your future.
But what 1 can tell you Is that,
even though this world Is In n
turmoil, this Is still great
countryside greatest In the
world, that all this talk about
there being no further opportu-
nifty in America for brains and
initiative is rubbish. Right now
American industry In its de-
termined search for its leaders
of tomorrow is putting a pre-
MUM on brains -.
THE road In from OF you Is
not blocked"
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Slight Drop Noted
In Dept. Store Sales

WASHINGTON. March 29.-
The Federal Reserve Board esti-
mates department store sales IN
the week ended March % were z
per cent less than the correspond
ing week last year, but said the
decline was due to the fact that
Easter will come much later this
wear than it did last year
In the week ended March IS,
sales had been l per cent above
last year. In four weeks ende1
March %, sales were even with
the similar period last year.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Work and Like IL

He emphasized that tn go-get-
ting young man must learn 10
work hard and like it. to temper
his approach to technical problems
with practicability. to have the
ability to get along with men, TO
understand those who have had
lesser opportunities. and to realize
that in various instances men
without formal educational back
ground may have acquired SUI
perior common sense, knowledge
and judgment"
Woe betide if the day ever came
when young America felt dis
oouraged, Cheated. thwarted. help
less, instigated only by rebellious,
revolutionary determinations.
No need COR such a defeatist al
utude today
Copyright. 1871, BY b C. Forbes
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Scrap Supply
Held Adequate

NEW YORK, March 29.-There
is no shortage of iron and steel
scrap in this country at present,
and there is little likelihood Of
one, according to Louis j. Borin-
stein. president of the institute Of
Scrap Iron & Steel. Incorporated.
Borinstein, howlev YER, urged
maintenance of prese price
levels in order to preserve the
machinery of collection, and there
by insure an adequate supply IN
the present emergency.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Business
Banks
Brokers
By WARD SCHULTZ
nstro,t Times Financial Editor

The recent Michigan Supreme
Court ruling that mere admission
of debt and furnishing q signed
statement Of condition does not
constitute an agreement 70 pay Is
Of more than passing Importance
10 hundreds Of DetroiterS-
It means that. despite VIDE
spread opinion 10 the contrary,
such action does rot constitute a
foiline of the statute of limNa-
lions. Il has long been. the practice
of bank receivers and financial in
stituuonS 20 send out a form letter
asking that the debtor verify his
Indebtedness and sign and return.
presumably for bookkeeping pur-
poses. The letters were used 10
revive notes about 10 be out
lawed under the statute Of hmi-
tationS.
In the past year or two. hun
dreds or even thousands OF De-
troiters have received such forms
from the closed banks and many
signed and returned them.
The decision In the case Of Glass
Us. DriebeHe WAS called Ia our
attention by Atty. Z. 3. Mont
romery. In II. Judgment for the
plaintiff. Harry Glass ST.. receiver
of the American Home Security
Bank Of Grand Rapids. was re-
yefst.t II, s2sess!sssse =
The court ruled that although
Drieborg signed a statement list
ing his assets and liabilities and
ffT1iiifr7Jvz lowed il with these statements
accurately represent my present
worth and ability to apply on my
Indebtedness at the bank, It did
not toll the statute.
The court held that a new
PROMISE ie444e1ie- o.
statute of limitations, ought 10 be
proved in a clear and explicit
manner- either expressly or by
such unqualified acknowledgement
as authorizes its implication,
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Rail Issue Approved

WASHINGTON. March %
The NC. c. has authorized Rens-
selaer and Saratoga Railroad Com
panv to issue $4,000 900 first mort
gage 4 per cent bonds in connec--
ton with the retirement. May /, OF
an equal amount of outstanding
first mortgage 6 per cent 20-year
bonds. The new bonds, to be guar
anteed by the Delaware and Hud-
son Railroad Corporation. will be
sold az par plus eccrued interest.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Commodity Prices
HIGHEST in 3 Years

WASHINGTON, March 70
The wholesale commodity price
index of the Bureau of Labor
Statistics rose 0.9 per cent during
the week ended March p TO the
highest point in the previous three
wears. The index is now Sl.6 per
cent of the 1925 average, COM
pared with 800 for the week of
March Is and 779 for the like
week of 1910.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Holders
OK. Stock Split

NEW YORK, March 29.-Stock-
holders of Merck & Company, In
corporated have approved, at a
special meeting, actions proposed
by the directors involving a split
up of each share of outstanding
common stock into three shares of
common stock.
As a result of the spiitHP. 900
900 shares of common stock will
be outstanding.
The authorized common stock
was also increased to 100000
shares, thus providing 100000 un-
issued shares.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
3d Clinic
MBA to Discuss Problems
In Cincinnati April S

CHICAGO. March 29.-The
Mortgage Bankers Association of
America will hold its third 1871
clinic in Cincinnati, April
), Doan r. Hill, president, an
today.
More than 200 will attend the
meeting which is in the nature of
an open forum conference on pres
ent day mortgage problems.
The meeting will be sponsored
If 7-f1ffi III tire Cincinnati
Mortgage Bankers Association.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Share Profit
Carrier Employees Paid
Highest Monthly Bonus

SYRACUSE. y. Y. March %
The highest monthly cash bonus
paid to Salaried employees of the
Carrier Corporation under the
share the fortunes of the COM
pany' plan. was announced by J.
l. Lyle, president
Increases amounting 10 ga per
cent, equivalent TO $40 on every
500 monthly salary, viii be in
Guided in the March pay envelopes
of every regular salaried employe.
The bonus is based on the aver
age monthly net income for the u
months ended February %, Lyle
said
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Big Board TO LIST
Northwest Airlines

NEW YORK. March 29.-The
York Stock Exchange will admit
Northwest Airlines Incorporated
common stock without par value
to the list and TO dealings OIL
March 81, subject to effectiveness
of registration under the Secur-
itieS Exchange Act OF 1884.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Harry Allen Elected
Director Of Goebel

Harry Allen was elected a direc-
tor of Goebel Brewing Company
at a special meeting of the board
of directors, Edwin j. Anderson
announced Saturday. Allen is the
senior member of 'he law firm
of Race. Haas e. Allen, and gen
eral counsel for the company. ~
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Loan Group
PAYS 2O9th Dividend

The Detroit and Northern Mich
igan Building and Loan Associa-
ton has mailed checks totaling
$1,000 to its members who have
invested their funds in full paid
shares. This dividend is paid from
current earnings and is a con-
tinuation of an unbroken record
of 81 years standing. The payment
distributed at this time is on the
basis of 3 per cent per annum.
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Best Year
Masco Screw Nets scoops
to Treble 1899 Total

Masco Screw Products Company
report for the year ended Decem-
Der 81, shows net profit OF
So ,026 after depreciation, federal
income tax, excess profits tax,
etc, equal to 1712 cents a share on
$4,000 shares of common stock.
This compares with a net profit
of S17087 or 5 cents a share in
1899.
The year 1910 was the most
profitable in the history of the
company and Alex Manoogian.
president, anticipates grea I e +
profits for 1941, based on the fact
that sales for January and Feb
ruary were the largest ever re-
corded
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30

a tendency on
the part of such
commissions TO
leave the BUSH
ness community
in the dark, as
the c o m m i $
sionS re [ a J n
I ne uncfar1-
fled &c n c + a ]
p o W G r s and
then after the
event seek 10
make them APP
ply to specific
cases. AS a re-
IMell=nean-
In 6 IN @ n o |
Detroit evening times. (Detroit, Mich) 1921-1958, 1941-03-30
Snider TO Boost Capital

NEW YORK. March 29.-Stock-
holders of the Snider Packing
Corporation at the annual meet
ing May % will consider increas-
ing authorized capital stock TO
shares from 2lnr DOC, Il
WAS announced TODAY.