davidaulloa/AmericanStories huggingface dataset:
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21

amount Of taxes it can collect
indirectly through the corpora
tons.
The price ceiling prevents the
corporation from seeking TO Off
set higher tax costs through
raising selling prices. There
fore the only source of addi-
tional taxes from the corpora
tion would come from transfer
Of profits to taxes, and total
corporate profits after present
taxes are small in comparison
with the current rate of spend
ing.
The foregoing is intended as
partial answer 10 an inquiry
from a reader in New York.
T. r. w, who asks rhetorically:
IF they (the corporations
really pay no taxes, but pass
them all on 10 the people, why
the tone of injured innocence ?"
Not a Profit System
Our system of course is not a
profa system, but a profit and
loss system. Not all business
men are successful in recouping
elements of cost, including taxes.
Although the successful operator
does pass on costs. the price CELL
ing puts restrictions on such
policies now. Moreover, if taxes
absorb the funds which should
reward investment, then the
seeds of decay have been
planted. Furthermore, if cor
porate taxes are so burdensome
that corporate savings, out of
which future development and
postwar reconversion of plants
to peace purposes should be
financed, dry up then the sur
vival prospects Of the private
enterprise system are dimmed
Ii is regrettable at a time
when internal harmony is so
essential TO observe Senator La
Toilette. who should know bet
ter, seeking 10 gain attention
by lambasting corporate whip
ping boys. He knows that the
Aluminium company is always
fair game for attack, but when
he implies that American sold
ierS are dying unnecessarily be-
cause of policies of this company
he is treading on dangerous
grounds.
Some one else might turn the
argument on him, and with SIM
liar lack of fairness tlame the
senator's earlier views on for
eign affairs for early reverses.
The senator is entitled TO agi-
tate for creation of a federal
aluminium authority. but it
seems desirable 10 discuss this
issue on its merits without emo
tlonal entanglements.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Sheer Stupidity

II is regrettable 10 sec emo
tionaliSm and class feeling en-
tering into the discussion Of new
and higher federal taxes. In
doubtedly unprecedentedly high
taxes are needed to pay for the
colossal war expenditures, and
in the circumstances the need
is for the most scientific and
well balanced tax scheme con-
Ceivable.
1t IS sheer stupidity to assume
that an easy way out is to shove
the burden on corporations. The
corporation is an inanimatc thing
"a mere man-made apparatus
for carrying on modern functions
incidental to producing and eX-
changing goods. Behind the
corporations are upwards Of 12,-
100000 stockholders. and in adj
dition many indirect investors
in the bonds of the corporations
which arc held by life insurance
companies and savings banks.
Likewise, in analyzing the place
of the corporation in the pro-
ductive system. we must think
also Of the millions of employees,
who in the aggregate. of course.
receive a vastly larger ratio of
the gross receipts than the own
erS. As taxes take an ever grow
ing share of corporate receipts.
the residue available for division
between capital, and labor is
reduced.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
LaChoy Food Co.
Moves to Ohio
In Business Here 20
Years; Sells Plant to U. S.

LaChoy Food Products, engaged
in the manufacture of Chinese
foods in Detroit for the last 20
years. has sold its Detroit plant 10
the United States Defense Plant
Corporation and will shift all OPP
erations 10 Archbold, o.. ii is an
nounced by French Jenkins, preSi-
dent.
Because of the difficulty OF OBJ
tanning containers and imported
materials. il was decided TO move
the business to Ohio and TO con-
centrate on dehydrated agricuI-
tural products. canned seasonal
fruit, vegetable and grain special
ties, jenkins said.
Two existing structures are be-
ing rebuilt and enlarged there and
will be ready for operation about
August l.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
j. :. Steel Adds
To Coke Plant

CHICAGO. June 20.-Carnegie-
Illinois Steel Corporation will
start construction shortly of new
battery of coke ovens, adjacent 10
the coke plant at Gary, Ind,
works.
Carncgic-Illinois will act for and
on behalf Of Defense Plant Corpo-
ration in this construction and on
completion they will be leased and
operated by the United States
Steel subsidiary.
II is expected the new ovens,
which will have capacity of about
100000 tons annually. Will be COM
pletcd and in operation in about
a year.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
CeIdnese Planning
$4,000, Issue

NEW YORK. June 20.-Cela-
nesc Corporation of America is
planning 10 file a S35.00o,0O0 issue
of debentures with SEC. carrying
interest at rate OF 3i2 per cent
annually and running for 20 years.
Understanding is Dillon. Read IL
Co, and Glore. Forgan & Co. will
head group underwriting deben-
lures. which are expected TO reach
market around middle OF next
month.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Wabash Railroad
Makes Payment
Preferred Holders Receive
Years Dividend Of $3.50

CHICAGO. June 20.--Upon de-
livery OF new Wabash Railroad
C ompany securities. preferred
holders will receive a payment of
$3.50 in cash, representing the
equivalent of full years dividend
on stock, according 10 Arthur *.
Atkinson, vice president and a re-
organization manager.
This dividend has been made
available by receivers of old com
pany under court order out OF
1871 earnings. In all, reorganiza-
ton managers will pay out some
IS. 900 900 TO Wabash security
holders on delivery of new securi-
ties. which il is expected will be
within a few days.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Brokers Loans
Off 40 Million

NEW YORK. Juno 20.-Loans
TO brokers and dealers in securities
by member banks in New York
City in the week ended June II
amounted 10 $4,000. 900. de-
crease of $4,000 900 from the pre-
vlous week and a decrease OF S2l,-
100000 from a year ago. Other
loans for purchasing or carrying
securities totaled Sl5i.0O0, 900. a
decrease of Sl000000 from the
preceding week.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Business Refused After Educational Order
Here's one for the book.


Detroit undertook
tonal a aircraft
did their Job making
excellent progress they successfully filled the contract larger
order prospect
a down inspect the
firms plant and find just what what
delegation found conditions depoable. LavaoreS
jammed with smoking workers there was utter lack oil
discipline, and the plant dirty and il-managed
returned Detroit and made their report with the
decided they wanted part of
the firm They that 1t would only lead
to trouble.
completed and the preferred
business refused
A later, United States Army had 10
take the of the m tho Brewster
Aeronautical Company.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21

Mutual Beneht, second wee president
John Cooper, North American Life As
surance Co, third vice president; Hump
hrey Marshall treasurer Metropolitan. and
Fraser +. Pomeroy New England Mutual,
secretary.
And Harold r. Chapel Of Grouse, Ben
nett Smith & Co, president of the Bond
Club of Detroit. has announced that the
annual election of directors for the forth
coming year Will be held al a cocktail
party Thursday, June 25, at 400 p, m.
at the Savoyard Club.
Nominees are John l. REMOVER, Mixer
REMOVER e. Co; Rolf a. CrookSton, Horn
blower & Weeks; Richard l., Purdy, First
Of Michigan Corporation; Stanley II. Will
kinson, r G. Gallaudet Mcdonald Moore
& Hayes; Howard L. Parker. NJ. a. Manley
& Co, and William n. Adams, Braun,
Bosworth e. Co.
Two OF the nominees will be selected
for a term Of three years and one for a
term of one year The three elected, to-
gether with A. c. Allen of Blyth q Co.
Harold r. Chapel Bert r. Ludington Of W
| = tartn ha hr.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Chain Stores
Sales Higher

NEW YORK. June 20. - The
Chain Store Age index of May
sales of leading chain store organi-
cations advanced sharply into new
high ground. The index for the
month was 10, compared with
l64 in April. The May. 1871. index
was 1872. All figures relate 10 the
base period l929-l93l taken as 100
All five divisions of trade re-
ported sales Improvement in May
over the preceding month. In two
instances new highs were recorded
and in another case the previous
high was repeated
The index figures for May by
trade groups compare as follows .
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21

by Smcaring business, Joseph
Charles Bowman New York
publiciSt, points out:
where plans for building
new social order interfere with
about production, they must be
held in allegiance until after the
war is won, just as must be
plans for road building, home
building, automobile building and
a thousand other things. Poll
tics, as usual, union organizing
as usual, eating as usual and al
most everything else as usual,
must he considered 'out for the
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Coast Firm Bidding for Workers Here

Detroit automotive plants arc facing invasion
West making periodic
10 Detroit and bidding for key
American week
ChrySer
IL quick ending the would leave them stranded the West
Coast with Job. be offers FlVE-YEAR CONTRACT.
To key Chrer worker, he offered hvcycar contract
TO a three months
with allowance of almost 5000 for expense
such prime Of soaring
labor cossbddng between the employers themselves for expert
enced labor
And its this that the government con-
tempsr Job freezing regulations which would cp workers
from migrating.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Stocks Mixed
In Continued
DUH Trading
Motor Shares Yield
Fractions as Eastman
Advances a Point

NEW YORK, June 20 CUP).-
Stocks continued dull today with
prices narrowly irregular
Erie certificates featured in &C,
tivity and were firm along with
Erie common stock in further re.
Spouse 10 action of directors yes.
terday in declaring a dividend 81
50 cents a share on these issues
II was the first Erie common divL
dend in rs years. Erie preferred
A stock eased fractionally. Othei
railroad issues were narrowly
mixed in light turnover,
Steel issues were very dull
Bethlehem had only appeared ones
up 10 around closing time. at IL,
previous closing price of 80. United
States Steel touched its previous
close of 4634 and then eascc
slightly. Coppers and gold mining
shares retreated a biz.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Peak Load
Pullman Carries Two Million
Armed Men Since Dec. 7

NEW YORK. June 20.-April
troop movements in sleeping cars
OF Pullman Company set a new
high record The company dis.
closed that in the period from De-
cCmber Z through the end OF April
Pullman carried nearly 100000
armed men. More than were
transported in all of 194l.
About two-thirds of all troops
carried by railroads ride in Pull
mans, because the majority Of
these trips are lonG-distance. At
times. more than half of Pullman
sleeping car fleet is engaged in
carrying armed forces.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Nation S Dept. Store
Sales Under 1941

NEW YORK. June, 20.-Federal
reserve board reported department
store sales in the week ended June
l3 were 3 per cent less than in
the corresponding week Of last
year Percentage increases were:
Philadelphia, /: Richmond, y;
Kansas City. II. and San Fran
cisco = Percentage decreases
Boston. ) New York. 4; CleVe-
land. =; Atlanta, 9; ST. Louis. l..
and Dallas, IL. In Chicago dis
trict sales were even with year
ago.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Elements of Cost

The corporation also repre-
sents the customer - the con-
sumner. 1t seeks 10 recoup from
a satisfied clientele through the
sale of goods and services all
elements of cost of doing bust
ness, including the tax cost.
When it is successful in doing
so, the corporation is, in reality.
more tax collector than tax
payer. But under the stress of
wartime regulations. the federal
government, in declaring an ov-
erall price ceiling. has thus
placed maximum on the
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
CLAYTON Closes Offices to 60 Back Into Army

Bidding farewell Detroit probably for the duration was Mai
Clayton attended OF the meetings at the bankers
convention
firm of Clayton and Company securities
firm offices Detroit Grand Rapids and Monroe back
into the United States Army.
Clayton finished a lieutenant in the last
telling the day he home with his new uni
form showed his wife the gold oak leaves which denoted his
rank of
They're lovely. Tom" she said "Tut really felt much
cheVrons when got them in the
Tom Clayton he Minneapolis where nc will act
federal district the
loans His "a the security business makes hun
eminenty qualified for the job
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Dupont Weak

Motor shares yielded fractions
Some utilities, including Consoli.
dated Edison and North American.
had minor gains. Oils held about
steady with Socony Vacuum &C.
tive Mercantile stocks were steady
10 slightly easier Du Pont lost
nearly a point. Allied Chemical
and Eastman Kodak gained point
each.
Douglas Aircraft receded while
Glenn Martin firmed. Airline
shares were irregular, with Amer.
lean off fraction and United Air
Lines unchanged. Westinghouse
Electric had a small gain and
General Electric a small loss.
Guantanamo Sugar preferred
ran up y points on a few sales.
Duplan Silk made new high al
10, up y. Radio Corporation. Sec
ond in activity for the entire mar.
ket equaled its high and then fell
back 10 the previous close.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
GoebeI's 3-Month
Net Income S59,7O3

Goebel Brewing Company for
the quarter ended March 81 re-
ports net income of $50 03
after depreciation and provision Of
federal income and excess. profits
taxes Of SNAPS. In the like period
a year ago net was $50. 1877.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
High Taxes Imperil
Future of Industry
Placing Burden on Firms as Easy
Way Out. Termed Sheer Stupidity
BY MERRYLE STANLEY RUKEYSER
News Service Economic Commentat

Apart from morals the basic objection to the emotional school
OF economies that il is disconnected with reality.
Instead popular understanding of what makes wheels
round industry this school OF socaed thought promotes fan
tastes and illusions.
In wartime such confusion reduces the productivity of indus
try, and Is profoundly harmful TO the national interest.
In proposing task force against what he terms the seventh
column political cheap publicity seekers and
ycophantS who destroy the institution of free
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Budd Wheel Pays IS Cents

Budd Wheel Company has de-
clared a dividend Of % cents on the
common, payable July ID to hold
ers of record June 30 Same.
amount was paid in March.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
25-Cent Dividend
By Detroit Steel Co.

Detroit Steel Products Company
has declared a dividend of %
cents, payable July 10 TO hold
erS Of record juno 30. a like
amount was paid on April 10.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
New Bond Offerings
Rise 10 S2,472,OOO

NEW YORK. Jan. 20.-New
bond offerings this week amounted
TO S2.472.0 900 against S500.0O0 last
week and S20,5l5,00O a year ago,
it was reported today.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Saginaw Markets

Pea teams &id1 Usr' red bifne,s 81
DARK red kidneys 50 yellow eyes SIS. OR.
g. .sht ,raruerres s. SO
Wheat fl 20 } ~ oats fJG soc. rye fftf
&c., F.N rowef hHfIr.. Kir2ui a.. burs
wheat = 21n1 o.. eocn 7sa 500. sos
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21

Appointment of Miss Ger
ish, widely known in trans
portation circles here. as act
ing district traffic manager of
United Air Lines for the De-
troit area, was announced
Saturday. Miss Gerish be-
comes one of the few women
in the United States to have
charge of an air transporta-
ton office in a ma jor city.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
PrOvident Loan
Calls Preferred

Provident Loan and Savings
Society Of Detroit is sending out
notice calling its series G 5ia
per cent preferred stock on Sep
TENDER l. at SOB per share plus
accrued dividends.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Offers Program

E-To win this war speedily
and effectively. or course.
this war cannot he won nv any
10 per cent patriotism. This is
"A war in which our right 10
maintain free enterprise. the
thrift system. Is involved. with
out victory our substances will
he exploited under force Of the
victors. So we find no iuStifica-
ton for weakening now that we
are in the war; TO the contrary,
we must fight with renewed
strength and determination.
SOTO meet the after-war Sit
uation. While this il
placed in the second category, II
Il not because II II less violent
than the military phase hut
because " does come second.
Self-Sacrifice. OF course. must
occur In holding our principle of
free enterprise. the thrift sys-
tenn, and our freedom when the
war II over; otherwise we shall
have fought in vain. Now. we
have 10 pay. and the only source
from which the cost can he
assessed il private enterprise,
the thrift system. that rests
upon the foundation of genuine
freedom
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21

newy-eected oTcerS " VI b. A.
together whole real check na
be effective.
elected capable slate oil officers
for the ensuing year follows:
President Sherman Collins, Vice President Rudolph
Reichr Second Vice President Joseph NJ Dodge and Treasurer
Charles Leash.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Violates Sugar Rafioning Law, Fined ST.

Warning: a n Mnncsota head OF q bong works last
week was fined $500 and 6month jail
ton Of The sugar rstioning regulations
He had filed I6 10 had
sugar on mans Actually lc found possess 1000 po4uf
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Squibb Co. Head in Army

NEW YORK, June 20.-Lowell
Palmer Weicker. president, f. r.
Squibb & Sons. has been COM
'missioned major in the United
States Army Air Corps and has
been granted a leave of absence
from his company for duration
of war.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Rehabilitation Plan

The means by which We can
win the aftermath struggle u
something that is challenging
the attention Of great many
people in America, and very
rightly 80. Rehabilitation cannot
occur by permitting our people
To Starve or by engaging our
selves in revolution. We must
have unity when the war is
over n strong and a. positive
as the unity which we have now
and which We must continue
during the military aspect of
This Situation" he concluded.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Manion Heads Qualified Life Underwriters

ELECTION NEWS: p meeting Of the directors
the Qualified Life Underwriters Inc, the following officers wei
elected:
Clyde J. Manion Equitable Life Assurance Society pcsdcn
Malone Life nresdcnl: Edward D. Dor
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21

Harold Waiting Lerchcn
will comprise board the coming year
The committee composed OF John G. Wright
chairman; NJ A. Manley Harry r. Fred A. Bagmann
Joseph J. McFaWn all past presidents Of tho club.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21

One Q goSIuToS -70
whereby the banks OF Michigan gave anamount 10
pledge employees tho armed services that their Jobs
be their return II sand IN part;
cd hat successful termination Of
hosIIes bring in good health with sound
bodies minds their activities In their
resp communities
With the banks holding per of all
securities portfolios they asked that noneSSena spending
be curtaicd
epsed that unta the problem production labor
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Investor, Labor,
y
Must Have Unity
Union Leader Sees
SWAY Cooperation
as Postwar Salvation

There never has been. nor car
there ever be any genuine prog
ross by the human race which Is
not prcdicated upon the acceptance
OF the principle of inSeparabilitN
of tho investor, management anc
labor, George l.. Berry. former
United States senator from Ten
nesSec and president of the Inter
national Printing PreSsmen and
Assistants Union of North Amer
lea, told a meeting sponsored by
Is business organizations IN
Minneapolis.
Private enterprise responds
TO the ambitions and aspirations
of men, 1t lays the foundation
upon which the thrift system is
safeguarded," Berry said. at
designates the three inseparable
human groups necessary to pre-
serve the thrift system; tO-wit,
the investor, management and
labor. Now, the investor may
be one possessing the small dol
pui WI itN WI
he NAV he one possessing tho
large dollar, but he il entitled
to and our democratic 'philosO-
ply requires that he receive "a
fair return for his thrift repre-
scented In his investment.
Management il entitled TO
adequate compensation because
he II selected for his efficiency
and leadership. and labor is
entitled TO and should receive
adequate compensation for the
labor, mental and physical, given
as It's part, plus the fact that
II represents the great bulk of
consuming power for the product
produced. This is free enter
prise.
This il n situation in which
no one OF the three can do the
job as a whole; thus, the value
and Importance of good will and
cooperation as between the
three, and thus the existence
of the community of interest
between them" he said.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Unlisted Stocks

Approximate price furnished nv the
'aiiona Association OF Securities Dealers,
nc. Distinct No s.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
The Business Front
State Bankers Pass Many Sound
Resolutions; Elect New Officers
BY WARD SCHULTZ
Detroit Times Financial Editor

THOUGH the ffty-sXtb annual convention of the Mchi
\ can Bankers Association last week achieved mos
nooriety from the antics OF Or William Jay Hale IN
"Dizzy Dean" az chemurCy who his usual outSpoke
self II wasn't all monkey shines and many good soun
thInES aCcomplIshCd.
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21
Postwar Problem

the present situation in the
world. There are those who say
that we shall have new form
Of government i'm the United
states, that our whole economic
system will he changed, that "A
great and unprecedented sacri-
flee will ensue. that our stan
dard Of living Will he lowered.
"NOw II Is quite apparent to
me at least that the Overwhelm-
ing majority of the people Of
the United States will not en-
brace communism, nor will they
embrace fascisi I, nor will they
embrace naZism. because they
know something about Ameri-
canism, its free enterprise, and
Its liberties. We will have a
struggle to preserve this eco
nOmic order that has made
America great. We are GER
tainly not unmindful of the task
ahead because we have been
rather wasteful In the past. a
hit careless, and bit imDrac-
ticable. We will have TO liqui-
date because of our omissions.
That will he the task. and the
only question 10 he raised *
whether we can rise TO the
occasion Of self-sacrifice to meet
the cost OF our folly. That's all
there Is in this picture. The
matter is simple. II seems To me.
and can he summed up in the
program:
Detroit evening times. (Detroit, Mich) 1921-1958, 1942-06-21

John Morreli a. Co. has declared
a dividend of 30 cents on the COM
mon. payable July Is. TO holders
OF record juno 30 A similar
go nj was paid April -.