Detroit evening times. (Detroit, Mich) 1921-1958, 1942-03-16
On the
Business
Front
BY WARD SCHULTZ
Detroit Times Financial Editor

| w ilIsAN ffhIsiNANhA' vi tpHlub-
I les, before evacuating Sumatra,
blew up a three-year-old 100000
600 aviation gasoline refinery, wor-
f rled investors began a checkup Of
long profitable holdings that might
yet fall 10 the invaders, accord
ing 10 an article IN the current
issue of Business Week.
American investors have a $500
900 600 stake in businesses scat
tered through the Far East from
Picking 10 Melbourne. il Is pointed
out. Biggest American stake in
the Orient when Washington took
its last inventory was in the Phil
ippineS, where 90 American COM
panieS had invested more than
49, 600. 600 in businesses ranging
from sugar and palm oil planta-
-HonS to the gas and electric
utility plants In teeming Manila.
+ Only a little less-S90 900, 600
was invested in China. most OF it
in Shanghai or Tientsin. Oil for
China was distributed from the
SeabOard to remote villages in the
interior in one of the most elah-
crate distribution organizations in
the Far East. The same cuSto-
mers were big buyers Of cigaretS
from the far-flung BritiSh-Ameri-
can Tobacco Companys dlstrlbut-
ing organization.
/ In Shanghai. the National City
Bank and Chase National Bank
have long been landmarks along
the Bund, and the American Ex-
press Is as we'll known 10 the
Chinese for its freight-forwarding
business rs its travel trade. Shang-
hal'S telephone system is operated
by International Telephone and
Telegraph and American and For
eign Power provides the city S
electricity.
Australia has proved only a
little less popular than China AS
A field for American investors
with every one from automobile
manufacturers General Motors
and Ford assembly plants) 10
chewing gum producers tWrigley)
angling for share in this profit
able English-speakin market Of
flee equipment manufacturers,
movie distributors, oil and tire
companies. and farm machinery
producers nave set themselves up
7 in the country either 10 save
freight by assembling locally or
10 hurdle tariff barriers.
Total United States investments
OF $40. 600 900 in the Netherlands
East Indies are Outdated by recent
heavy increases by the oil com
IpanieS. Exact amounts invested
lin the two new high-octane gaSo-
line refnericS in the last few years
as part Of tho program 10
, strengthen the supply bases Of the
countries now fighting together AS
the United Nations were not re.
, vealed until one al Palembang was
destroyed as the Japanese began
their invasion Of Sumatra. Then
, oil officials admitted that il had
cost. with auxiliary installations,
nearly 100000. 900.
Investments in Australia. New
Zealand and India still have not
been damaged by the onrushing
japanese. but in all of the other
countries - including Burma
7 Americans are preparing TO write
down or write off much Of the
S275 600. 600 that already has fallen
into the hands Of the Japanese.
DOW CHEMICAL. In new low
ground for l94l-42. is still rated
as a rich stock yielding less than
? per cent on The current dividend
basis. The low yield is largely
blamed for the current weakness.
Dow not only has built and i
running huge new plants for the
government, but has invested up
wards of $50. 000. 900 in new fac
tories and equipment on its own.
which may be written off on the
five-year plan. Unless income tax
laws are changed. this should be
the deciding factor in keeping Dow
O'Al vi lll' liNAf 'INN''NN lJi WIS
bracket for al least another year.
PERSONAL NOTES: Canada
has placed a uniform price on all
cars Of any particular make. In
other words. A super de luxe costs
no more than a standard-if YOU
can get either. =. Detroit Edison
Company meets tomorrow TO take
action on the common stock. . .
W. s. Parish, president of Stand
ard Oil. says that an investment
Of Sl5 per car In synthetic rubber
producing facilities would keep
Americas cars on the road. . d.
Per capita consumption of rayon
climbed TO As pounds in 1911 from
81 in 1910. Tho National
Association Of Retail Druggists is
backing a drive TO make doctor
bills, disqualification and medicines