davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Wages Do Not!

Obviously, wages do not, as the
statement of the manufacturers
spokesman implied, come out of
profit, but are a prior claim of
business receipts, of which only
the residue, after all other costs
have been made, are assigned to
the profit category. AS for taxes,
it is widely assumed that they
come out Of profit. but they, too,
constitute a flexible and prior
claim on business receipts. AL
though technically some Of the
taxes appear to come out of profit,
the corporation in reality merely
acts as middleman and collects
the taxes from its customers, re-
distributing the funds to the
national treasury. Profits, or pay
ments/ for the use of corporate
tools, are, it is true, needed in
order to agument corporate saw
ings for postwar contingencies.
So-called profit may be distributed
in part in dividends, or saved by
the corporation for future con-
tingencies. In normal times, most
well-managed corporations retain
substantial fraction of their
earnings for the future growth of
the business.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Hits Abnormal Profit

After asserting that abnormal
profits were repugnant to manu-
facturers, Mr.. Weisenburger was
quoted as saying:
There must be no profiteer-
ing on any ones part. but there
must be profits TO pay wages,
to pay the war taxes, and pro-
fits to create reserves for after
war employment"
l submit that the inadvertent
loose and unscientific use of the
word profits" is confusing.
Much of Karl Marks own
fallacious reasoning about the
business system came from lack
of clear understanding about the
authentic nature of business cost
and profit. There was more ex-
cuse for such vagueness in the
mid-nineteenth century. But in
recent years, particularly since
the Inauguration of the corporate
income tax during World War l.
there has been remarkable prog
ress in the science OF cost ac-
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Good News
On the Production Front
in the United States
ny International News Service

MORE PATENTS-Alien prop
erty custodian Leo T. Crowley
plans a census of every patent now
or heretofore owned in the United
States by foreigners. preparatory
to possible seizure of as many as
100000 for use in war production
MORE NEUTRALITY-SUSPICIOUS.
ers producing the undersea craft
in the yards of the Electric Boat
Company at New London, Conn,
have voted Overwhelmingly to
forego vacations this year.
MORE PLANES-Undersecre-
tary of War Robert P. Patterson
reports that Uncle Sans program
for the production of $4,000 air
planes this year will be surpassed
by a substantial margin.
MORE MICA-A War Produc-
ton Board spokesman has told
New England mica miners that
the government is willing to raise
its price for the mineral in order
TO bring back into operation I'M
used mines in the area. Mica is
essential for electrical devices
vital in mechanical warfare.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
April Rail Net
Near s. Million

ASHIN TON, May 30
Class one railroads in April had
a net income, after taxes. interest
and rentals, of $57r 600, 0oo, against
81, 264 600 in April, 1871, the AS
sociation of American Railroads
estimates.
The A. A. r. reported that net
operating income Of the roads in
April totaled Sl01 1894 SOL, against
a net operating income OF So, 074,-
739 in April, last year.
Net income. after interest and
rentals for the first four months
of 1912, was estimated at S149.-
eee, eco, against SIG, 299. 600 for the
comparable period last year.
Net operating income. in the
first four months was reported at
1924. 700 JOG. against $3.50 ,40l ASH
in the like 194l period.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
u. ). Store Sales
Al Period

NEW YORK, May 30.-The Fed
eral Reserve Board said depart
ment store sales fell below last
years pace for the first time in
1912 during the week ended
May %.
Giving no explanation for this
decline the board estimated that
with the country as a whole,
sales were per cent less than in
corresponding week of last year.
II the week ended May 16, sales
had been 5 per cent above year
ago and in the four weeks ended
May % sales averaged a per cent
more than in a similar period last
year.
Only the Richmond and San
Francisco areas reported in
Icreases.
Decreases included the follow
ing Federal Reserve districts
Boston, 3; New York, d Phila-
Idelphia, a; Cleveland. 6; Atlanta,
IS; Chicago, i; st. Louis, Z; Kan
Isas City, /, and Dallas, 10 per
cent.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Dow TO Operate
Big Rubber Plant

The Dow Chemical Company of
Midland, Mich. will operate one
of three divisions of huge $780,
100000 synthetic rubber plant TO
be built near Gary, Ind, it was
disclosed Saturday.
The Dow company will specialize
on styrene. according to dispatches,
while other firms concentrate on
butadiene and polymerization. Pro-
duction is expected early next
year.
Announcement of BOWS connec-
ton with the government-spon-
sored venture follows several
months of exhaustive research at
Midland. One report is that Dow
has developed a process that
assures retreadS for million tires
by the end of the year.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Marx Was Worried

Marx was worried about surplus
value, which he identified with the
profit made by the business VEN
turer. But in Marks days, ac-
counting was vague, and it was
customary to list everything be-
yond the direct labor cost as
profit. burden, etc" But in terms
of modern cost accounting. the
ETC." is exceedingly important.
Out of the gross receipts of a
business obtained through the
sales of goods and services, five
principal elements Of cost must be
met, of which the direct labor cost
is only one.
The other four include:
Taxes.
Goods and services purchased
from others.
Wearing out of tools (deprecia-
ton and obsolescence).
Cost of capital (profiD.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
See Antitrust
Laws Waived
For Duration
Would Permit Nelson
TO Grant Exemptions
Where Vital to War

WASHINGTON. May 80 QNS).
"A compromise program for the
exemption of corporations from
antitrust law prosecution In the
interest of the war program APP
peared likely today.
Senator Joseph O'Mahoney CD
of Wyoming, chairman of the Sem
ate judiciary subcommittee ham
ding an exemption bill, said that
agencies which have
sharply disagreed on methods OF
exempting corporations now are in
general agreement.
The compromise proposal Is ex-
pected TO permit Donald M. Nell
son, chairman OF the War Produc-
tion Board. to grant exemptions.
He would. however, be required to
file a certificate with the attorney
general
1.-THE certificates would be n
matter of public record" said
OMahoney. Issuance Of the GER
tificates would also he matter
of record I'm the department OF
justice.
"Winning Of the war must be
our primary aim. We must also
make certain that exemption
from antitrust laws shall be for
this purpose and for no other
reason"
High officials forecast extensive
pooling of corporation resources il
the legislation is approved.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31

the fact that the customer is the
boss and constitutes the source of
the receipts out of which all ele-
ments of cost were paid. The So
called profit, which is residual
item, was described in fresh terms
as a capital cost, or payment
for the use of the tools and other
resources which are provided out
of the savings furnished by in
vestors.
Although some of the outstand-
ing American corporations have
adopted this new and improved
means of communication with en-
ployes, customers, stockholders
and the general public, the old and
misleading word usage tends TO
persist. Curiously enough, even so
ardent a defender of the enter
prise system as Walter B. Weisen-
burger, executive vice president of
the National Association OF Manu-
facturers, in a recent statement,
was quoted using the word pro
fit" loosely.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
0. K. Liquidation
Of Cleveland Ry.

CLEVELAND, May 30. - BY
more than the required two-thirds
majority, stockholders of Cleve-
land Railway Company formally
approved liquidation of the COM
pany's assets.
Assets have been sold to the
City of Cleveland. which is now
"rating the street railway sys-
TEN. Stockholders are to receive
S45 a share.
A meeting of the company's
di- 'ectors is to be held next week,
at which time they will determine
when the dissolution certificate is
to be filed with the secretary OF
state, the amount of the initial
liquidating payment 10 share
holders and when il is 10 be paid
Officials said that the first pay
nent might be slightly less than
S45, the balance being held back
as a reserve for a short time and
that it would probably be paid
during the last half of June.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Cont'| Motors
Net, Sales Soar

Continental Motors Corporation
reports for the six months ended
April 30 a net profit of 81, 926. 17S,
equal 10 81 cents share on 5000
600 shares. against Sl.224.129 or
al cents share for the six months
ended April 80, 1941.
Net sales for the six months In
creased $40 per cent AS result
Of the increased volume, the COM
pany renegotiated its war produc-
ton contract prices. extending
substantial reductions to the gov
eminent.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31

SAGINAW May 30 (UP). --Today's pay.
ing prices 90 growers for beans
Pea beans, 81. 05 light red kidneys. 81
dark red Kidneys, 81 yellow eyes, So
c. Y. c. light cranberries, 81; c. r. c.
dark cranberries, $50.
Wheat, SiM1.02; oats. 46Tt7c: rye
81 n CSC; six -rowed barley. si.62di. IS
buckwheat, Si.s7d 90; corn, rs soc
soy beans, xi.57q So
tThese prices furnished by Michigan
Bean Company
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Detroit Gdsket PAYS
Is Cents on Common

Detroit Gasket and Manufacture
ing Company has declared divi-
dend of 25 cents on the common,
payable July 20. to holders of
record July 3. The firm paid like
amount in July last year and April
this year.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Business Pays Penalty
For 'Old' Accounting
MARKHAM Terms. Such as Profit. Now
Turned Against Large Corporations
BY MERRYLE STANLEY RUKEYSER
International News Service Economic Commentstor

In the emotional camor against wartime profit Amer
industry for its mistake through the OF
using vocabulary misunderstanding critics.
column cautioned
this the recang accounts into bust
language perpeuatng MARKHAM ephets
Moreover beginning the of 1888 this
prepared three brochures the subject
The streamned, form devised photograph
activities. The short form stressed
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Cut Girder Use

One WPB representative ex'
planned that the directive probably
would cut deeply into the use oil
steel Orders for plant expansion
and would prevent buildings OF
many elaborate homes in defense
housing projects. Both, he ex-
planned, would be cut down to the
bareSt essentials. Barracks prob
ably will be favored for housing
defense workers.
The directive requires that
future building be of 1.-The cheap
est, temporary character with
structural stability only sufficient
to meet the needs of the services
which the structure is intended to
fulfil during the period of its con-
templated war use"
Mechanical and electrical fea-
lures, il said. should be reduced
to the bare necessities. Air con-
equipment merely for
the comfort of workers would not
be installed.
1t suggested that each depart
ment of the government dealing
with construction arrange for
frequent and adequate spot
checks" of projects to assure con-
Torrance by all ubordina e
Disciplinary action"
and suitable penalties" for viala-
tors also was proposed,
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Dividends

Allegheny Ludlum Steel Corpo-
ration has declared a dividend OF
35 cents on the common, payable
June 30 to holders of record June
10. The firm paid 80 cents July
2, last year, and March 81, this
year.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31

Ohio Brass Company has de-
clared a dividend of so cents on
the A and b common, payable
June "a to holders of record June
8. A similar amount was paid
March "a.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31

important than smoothness
precision ring, which he
Naturally feel extremely that
honng stones being used to attain this perfection"
Midwest although old within
become the coun foremost producer honng
plants Detroit and Owoo Mich Rochester
but all the honng production Michigan
Some mentioned the trend toward elderly page
misook important business Well the climax
the other day. and the vice president Of OF the banks had
q rather bad time of IL.
Busy engaged telephone distinguished
looking standing his desk conversation
when completed he jumped his
the hand pumped and started 10 apologize
prousely the delay
said the also ALPHABETICALLY
ysG q. check. I'm your messenger"
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31

Leland Friday night by $50 members Of
the Plymouth factory production super
visory personnel.
Presiding ut the dinner was Harry
q. Mock, vice president Of Plymouth,
and speakers included President ID. s.
Eddins and III. l.. Weckler, vice presi-
dent and general manager OF Chrysler
Corporation.
Fred Barrett, well known Detroit
advertising man, was honored by his
friends at the DAG by farewell dinner.
He leaves for New York Immediately 70
Join the Compton Agency.
Barrett was connected with such
well known Detroit agencies as c. G.
Winninghsm, Ruthraun and Ryan and
lately, Lee Anderson.
Every time the boys out at Mid-Wes
Abrasive see an army or navy gun, or {
picture OF one. they swell with prid,
because they know that il was honed will
shrasives from their plant
Perhaps the proudest OF all OF then
h President James t. Jackson.
mo part Of the big guns now being
eruDIoyed by the army and navy 10 shat
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31

Bond Stores, Inc, has declared
the regular quarterly dividend Of
40 cents, payable June ID TO hold
ers of record June 8.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Earnings

Addressograph Muitigraph Corporation
and Canadian subsidiaries, but excluding
British, French and German subsidiaries,
for the nine months ended April 80 report
n net profit of 1852 1873, equal 10 81 % a
share. against 1891. 265 revised. or Sl.23 a
share. in the corresponding period of 1871.
BriIIo Manufacturing Company, Inc, re-
ports March quarter net proht OF
SIS. 464. equivalent 10 81 cents n share on
the common. No provision was made for
federal excess profits taxes. This COM
rsnts on m. common in ie4i ouspter' ~
Pet MIX Company and Its subsidiaries
In the March quarter report net pront
OF S1Ss ISIS, equal 10 43 cents n share on
the common. against ST. $40, or IL cents
a share in the 1871 quarter.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
r. G. BISHOP

. y
Michigan Also present Frank c. Bishop
Goebe
accepting the nag the behalf OF his and
Goebe employe had
time but that under the
allotment plan their participation to increase
substantially.
ON RECENT Detroit plants manufacturing
wing that the final assemblies
familiar olive drab and that the paint rough
finish paint
mind that time back when Jimmy
inspected his racing
the painted surface be removed from the
and that they be a high polish.
-Thatn give about five ten miles there he
said.
Although told that the dull finish used TO prevent
reflection making difficult to spot the planes the thought
Jimmy Dooitte might still
preferred that extra five or ten"
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31

May stock volume at 7,229.097
shares was the smallest for that
month since 1914. If compared
with 1883. 297 shares in April and
o,667 $50 shares in May, 1941.
This week had one good day,
Wednesday. when the industrial
average rose 1.68 points to a new
recovery high at 10109. A small
rise preceded it on Tuesday and
minor declines ruled in the other
sessions.
War news, further tax talk,
dividend reductions and omls-
sions and the holiday were mar
ket influences. Despite Washington
warnings, traders in many in
stances persisted in selling war
stocks and buying peace issues.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Stocks Scored
Uneven Advance
During Week
Volume During May
of 7 Million Shares
Was Liehtest Since IA

NEW YORK, May 30. - The
stock market made an irregu-
lar advance during the past week
with volume tightening on the
approach of the Memorial Day
holiday.
All major markets were closed
today for the holiday. They will
reopen on Monday.
Sales for the week totaled
i $50, 800 shares. against 2,0l8,810
shares for the full week last week
and !, 482, TAO in the corresponding
period of 1871.
The Dow-Jones industrial av-
erage gained 1853 points on the
week and was up $50 points for
the month. The railroad average
lost slightly on the week and the
month and the utility was down
a quarter-point on the week and
a half-point on the month. Bonds
eased this week and were 1.2O
points lower in the general av-
erage for Nav.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
80 Egg Drying Plants
Operating in u. 5.

WASHINGTON, May 80 (UP).
Egg drying plants, chiefly in the
Middle West, now are producing
260.000,000 pounds annually, the
agriculture department said today.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31

security, interest on
billion debt reduction in that debt will take
than the entire New Deal
this entirely the current cost
o operations at that time.
collected in the three fiscal years from
1930 would for half of the anticipated public debt interest
In 1874
outlook is far from pleasant and only take ordinary
adjusting living standards conform One
though that is the burden will fall most
heavily on the so-caled white collar classes.
The S50O0ayear married with dependents paid $llO
1910 $35 the 194 and scheduled 10
500 1912 income In addition 10 this state taxes
bond purchases will leave him only about $OO IN spend
able income.
BREWERY Michigan receive the coveted
minute Man" the GOebe Brewing Company
awarded In recognition Of the employees achieve
subscribing bonds presented to Edwin j.
Frank Isbey chairman of
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31

Ryan Aeronautical Company has
declared dividend of 10 cents,
payable June Is to holders Of rec
ord June 10. The firm paid 23
cents March 25, the first payment
since 1897.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Honor Patterson Plymouth Works Manager

at
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
The Business Front
Heavy Taxes Will Continue Burden
Lono After Present War Is Finished
BY WARD SCHULTZ
Detroit Times Financial Editor

~ with peace and those who anticipate
II II suchre a rude awakening.
In astronomical debt that VIII be
social security disbursements Will undoubtedly
peakng during the postwar adding to an
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
Harrison's Plan

Suggested by William II. Har-
rison, director Of WPB's produc-
ton division, the directive calls
for elimination of all construction
--federally or privately financed
which is not deemed necessary
for prosecution of the war. To
save additional material, author
lied construction would be of the
cheapest, temporary character"
The curtailment is necessary,
the directive said, "in order that
the consumption of materials and
equipment by construction activi-
ties shall not impede the produc-
ton of combat supplies and
equipment"
This can be achieved, Il con-
tinued, by the elimination OF non
essential projects or parts thereof,
by deferring the projects not
needed Immediately. or by appro-
pirate changes in design and con-
struction methods which will favor
the use of those materials which
are most plentiful and which will
least with the production
of combat materials"
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
WPB Completes
Restriction Plan
For New Plants
Absolute Minimum
of Construction Seen
Saving Steel Orders

WASHINGTON, May 3o.-De-
termined to provide a growing
flood of supplies for Americas
far-flung battle fronts, War Pro-
duction Board officials today put
finishing touches on program to
curtail projected plant expansions
10 the absolute minimum" and
make strategic materials avail
able for use in manufacturing
necessities of war.
Most construction which could
not be used in the production et-
fort before 1913 will be junked
under a directive approved by
WPB Chairman Donald M. Mel
son and President Roosevelts
top-ranking army and navy chief
tains.
Officials said huge quantities Of
strategic war materials will be
diverted TO manufacture of planes,
tanks. ships and guns by aban-
donment of large port of the
projected $4,000, 100000 (B)
worth of plant expansion. Only
essential construction, such as
facilities for synthetic rubber pro-
duction, will be undertaken.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-31
A WEEK IN THE MARKET

NEW YORK May 29,-The following table shows the &C.
witty the New York Stock Exchange day this
The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1942-04-23
ANOTHER VAR?
(BeIl Syndicate-wNU Service.)

When this tOar is ouer and, tUe
hope, t0on, tUiU tUe make an in
telligent peace by Which zoe tOiH
alloto to our enemies the free
dom and justice tOe are fighting
to saue for ourselves and our
allies? Viii zoe see to it that able
bodied men are giuen an oppor-
tunity to ,oork9 Viii Ue give to
the children Of others the unself-
ish devotion zoe sometimes re-
serue only for our otUn? Or ,oilI
zoe fail to do these things and, in
failing to do them, bring about
the disaster of another ,oar?
The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1942-04-23
. EUGENE CUNNINGHAM

THE STORY so FAR: To save his
life, Con Cameron Is forced to join q
band sf outlaws headed by bud Para
more. Because he was seen with the
RanierS, who are wanted for robbery
and murder. he is suspected Of being
one Of their gang, Of being a certain
Comanehe Linn. Arrested when he rides
into fivan, he Is not released In spite Of
the fact that he had saved the life Of the
marshal, Nevil Lowe, only a few days
before. Knowing that he must escape or
be hanged, Con breaks out of jail with
Jef kNmon. On their way to join Para
more they meet a group Of Mexicans,
and Def takes their money. Con insists
that he return it. One of the Mexicans
promises to help him IL he has a chance,
and a Rttle later, In the nearby town of
San Marcos, he does so. One Of Para
moress men, Gonzales, has threatened to
kin Con. The Mexican warns him In
time, and Con kills Gonzales first. They
are surprised In San Marcos by Lowe
and q posse. In the fight that follows
Lowe Kills some of Paramore's crowd,
and Dpd swears vengeance. 1t is few
minutes later.
Nov continue with the story.