The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1942-05-21

New York City OLNS).-SenSat1On-
al indications of wartime prOfiteering
appears in a story from l. +. Stone,
The Nations Washington correspond
ent, published in the May 8 issue of
The magazine.
Digging into the reports of the House
Naval Affairs Committee headed by
Representative Vinson, Stone uncover
ed some documents which indicate how
reluctant the committee has been to
go after the really big profiteers.
Big Fry Left Alone
Among the documents was a list of
contractors who hold aircraft con
tracts on which they themselves adj
nit profits in excess of 80 per cent of
cost. BendiX Aviation, for example,
held the highest number of high-profit
contracts, % in all, with profit run
ming as high as 122 per cent. The
Aluminium Company of America was
next with - on which the stated
profit ran as high as 95.3 per cent.
Glen l.. Martin held II high-profit con
tracts, the highest being 1915 per cent.
Bell Aircraft had Il profit of 1856 per
cent.
Yet with all these big fry clearly
listed, the committee, in planning its
first hearing. went to the very bottom
Of its list and picked Il company few
people had ever heard of before, Jack
& Heintz Of Cleveland, Il company
holding n contract or which it re-
ported Il profit of III per cent.
Important Facts Overlooked
Jack x HeintZ, writes Nh. Stone,
made Il great story for the newspapers.
NO big-buSinesS toes We're stepped on.
and the case was made to appear n
of labor profiteering since Il woman
secretary was paid $39,3G5 for a years
work.. There We're more important
aspects Of this case which the papers
overlooked"
The first, he points out, is the fact
that Jack x HeintZ'S reported profit of
III per cent turned out to be 100 pei
ent. \ one can read the transcript
of the -. hearing without feeling that
the navy. the FBI, and the Revenue
Bureau were completely justified in
having Il look at the affairs of this
company. . But if Il profit reported
as III per cent turned out to be 100
per cent, what We're the real rates of
profit of companies which reported 80
and 60 per cent and even, in one case,
al per cent?
lnter-Office memOS introduced in evil
dence at the BendiX hearing in April
also shed some light on the interesting
methods used by that company to ar
rive at its prices.
Bendix Case Dropped
Reports Mr.. Stone: "The formula
given was direct labor plus 300 per
cent plus materials equals commercial
cost. TO this must be added 80 per
cent for profit, which will give Il mini
mum net selling price. This minimum
multiplied by two should equal
the list price. . Apparently minimum
prices were not for the government
because another into-office memo re-
No. 174.-Sanitary, Metuchen, N. J.
Martin PUGET, 8 Poplar ST., FOrds, N. j.
Meets second Friday at Phoenix Grove.
No. 175.-Sanitary. Trenton. N. J.
at Railroad Workers hall, Main st.
Maurice Rizziello, 253 Elmer st. Meets
first and second Wednesday In Old
Castlermini hall. Clinton and Mott SITS.
No. 176.-Porcelain. Macomb, Ill.
Sara Aemmer, SO6 +. Murray st.
Meets first and third Thursday in
Lyons building, Washington st.
No. III. - Sanitary, Robinson, III.
Lloyd Darnold, 9O1 S. Howard st.
Meets first and third Thursday in La
Dor Temple.
No. 17S.-Artware, Sebring, Ohio.
June Abmyer, 333 w. Oregon Ave.
Meets second and fourth Wednesday
in X. of +. hall.
No. 18O.-Artware, Huntington Park,
Calf. Frances X. Algea, 62O7 King
Ave., Bell, Calf. Meets first and third
+ Wednesday in Townsend Club hall, cor
ner Clarendon and Rugby Ave.
No. 181.-Tile, Porcelain and Art,
ware, Trenton, N. j. Clara Bowers,
$50 Pear st. Meets first and third
Tuesday in Falcon hall, N. Olden Ave.
No. observation-disclosures, Los Angeles.
, Calf. Lillian Weigand, 1916 Linda
Rose st. Meets first and third Wednes-
day of each month in Americal Hall,
~ NOfln ave. ID. LOS Angeles
No. 184.-Chinaware, Trenton, N. J.
Walter II. Smith, 666 Princeton Ave.
Meets second and fourth Thursday in
New Casteltermini hall, Clinton and
Grant SITS.
No. 1S5.-Porcelain, Trenton, N. j.
Louisa tombstone, 5Ol Pennington Ave.
No. 1S6.-China and Art Ware, Los
Angeles, Calf. Raglan Rowland, 1928
Maceo ST., Los Angeles, Calf. Meets
first and third Monday of each month
at 22O9 n. Broadway.
: No. 187.-POrcelain. Trenton, n. j.
Charlotte Morgan, 926 New Willow st.
Meets second Thursday in Polish Hall,
; North Olden and Bruieng Ave.
No. 188.-Tile, Trenton, N. J. Gym
!. thia McCauley, 1880 N. Olden Ave.
I Meets semi-monthly at Villalba hall,
80 East George st.
] No. 189.-Feldspar, Erwin, Tenn.
B. E. Cousins, r. d. No. 1, Box PA.
Meets first Monday night after the
9Th and Goth of each month.
I No. 19O.-Porcelain, East Liverpool,