New Britain Herald Newspaper, May 29, 1918, Page 5

MERGER OF LARGF EXPRESS COMPANIES Business on Railroads Taken Un- der Control by McAdoo rington, May 29.—A merger of of » Wi the four big express the tederal express cepany to handle all of the business the and operated :Iir(‘er General terday The o the ~dams, companies country into a or government controlled railroads was authorized by McAdoo late yes- all | the and new company will handle business now handled Southern, by Wells- Fargo companies the ar- ihe American Under Htate ruing The company will | be the director general's agent for carrving on the express business. Sarvice and salaries will he under the djrector general's control and subject | initiation ¢ him An important feature rangement is that the 1% to be capitalized only of the aecrual oparty the business. Al duplication the exoress rangement made TUnited will share the new in all profits acc to company. w0 of the new company to the extent each put into ar- will e avoided in bnsiness asg in railroad throughout the they will razint transaction of foreign 2nd financial business The four big companies whose bus- iness is be taken over will be teclding companies for the new con- setn having all of the stock. The new company is purely an operating concern. The parent companies will continue mot only their corporate ex- istence, but will exercise full fiscal funetions and share in the profits of t1he operating company if there are any. The government will share on a progressively increasing scale in any profits derived from the business The general method of compensation “is that the director general will re- ce¢ive 50 1-4 per cent of the operating tevenues “or gross earnings’ and out 01 the balance the express company will pay operating expenses and | tuxes and a dividend of 5 per cent| on its capital stock. Out of the next 2 per cent avail- mble for distribution the express com- any will Teceive 1 per cent and the cvernment 1 per cent; out of the | next 5 per cent available the express | company will receive 1 per cent and the government 2 per 'cent; any fur- | | i " | combined express companies N®=W BRITAIN DAILY ther be dis expre: ol St amounts tributed 1-4 com and nment ctor General McAdoo is pleased this method division profit. To the ex company aiven a continuin inducement to ac- complish the efficiency and available will per cent to the any 3-4 per cont D with of is pass greatest | ecccnomy The new company Lusiness physical properties actual value of §30,000,000 for capital stock to that amount will issued. No cavital stock will issued par for capital $5.000,000 will put into the of the ba other except at Tt probable fthat capital will be put in vurposes. The holding ready to advance any needed This will make the stock §35,000,000, Mr. McAdoo announced that organ- companies amount capital i2ation of the company was approved | handling the express | 1 | permitted with a view to husiness in the most cconomical manner. The new company has not named. It was the intention corporate it as the Kederal company, hut it was discovered ir some states, particularly York, use of a name held by another tate corporation is forbidden. There is 2 Federal Express company incor- porated in New York efficient and been to in- Express New Tayloy Operating Chief. management will Dbe placed in the hands of men alread in express service. George C. Tay now president of the American press company, will be the operating Mr. Taylor has spent his life in the American IXpress company. The express country town in Wisconsin after leav- | ing college. His rise to the presidency of the is typical- )y American. He has held every posi- tion in the American company from the lowest to the highest. During the crisis for the express company four vears ago he the American and carried the organi- zation through an uphill fight. Under his administration the total volume of business handled has multiplied many times. Mr. Taylor is ane of the voungest executives of the country. Through his rise from the ranks and frank, open-handed treatment "of employes, he has held the undivided loyalty of his force. He stated last night that public service will be the first consid- eration of the new organization. Tt will nat only give a service designed to meet public convenience, but will {do everything possible for the em- ploves of the new concern A wage scale adjustment, he said, is already under consideration. The lowest paid men will receive the largest increases in wages. but the raise will be fundamentally different rom the railroad wage raise because of the fact that more increases have heen given by the express companies in the past three years than by the ailread comnanies, A rate case for the express com- ) banking and their respective foreign | Whom a REG.U.S.PAT.OFF P THE a=vERaGE acres. A basement 30 feet high containin of | which | cash | for operating | | such employes, that | i He took a position | as helper and wagon driver in a small was made president of | HOM HERALD, providing for a rates is now Interstate C‘ommert mission. The aggregate earnings the four companies whose husiness was faken over w 700,000 for the | three vears of guaranteed railvoad earnings. With th fact in view, the officer of the concern expre | confidence that they can make fi per cent. for their stockholders | The company will have proximately 100.000 emploves, ira ferring them they will g credit not only for previous service. but pen sion rights and syatems for all of them will be preserved It is expected that the three smaller companies- the North western and will even- tually come ment These companies : the Great Northern, and the Gould road: While the new expr by the directc use railroad employe: ice, the entire per cent pending he com increase in 10 ! fore the new new ap-| and in the Northern, the Western- under the new arr are owned by Northern Pacifi company general to in express serv compensation for all both for railvos express services, will be fixed by ‘the director-general: an press company will comy director-general for services | by such employes to the express com- pany The new arrangement will make it ! practicable to avoid a great L of | wasteful duplication af facilities and to eliminate a large amount of ac- counting which, while necessary undes the old systém of contracts hetween the various express companies and the various railroad companies, will be unnecessary under the new system Tayloy Outlines Future. In a statement setting forth the new scheme will work out, ident Taylor said: ¥In the 1sate rende how Pres- future merchants, facturers and individuals need v specify ‘by expre: and the en- | tire man power and vehicle power of the express world will respond to | their call. “At no time in the history of the railroads has the volume of express traffic been so great as it is today, the business reaching a total during the past fiscal year of over $200,000,- 000. “The remarkable growth under such conditions as have prevalled since our entrance into the war is fatrly convincing proof that the ser- vice rendered by the express com- panies is a commercial necessity. “The consolidation now under was | merely reflects the trend of times. is to secure economy of operation s { to render a more efficient service that | this step is undertaken.” B. D. Caldwell, president of the Wells-Fargo Company, who has been | selected as chairman of the board to supplement Mr. Taylor's work, went to the express company from the | Lackawanna, of which he was ! president. The non-transportation activities of the separate companies, such as mon- | ey orders, travellers' checks, travell department, foreign exchange and [ manii- mere- vice WEDNESDAY, MAY 29, | relief from such suffering. | cations ex | tional | past. | Adams | financial business. 19 SHE WAS | ONLY TWENTY Yet Suffered with Functional Disorder and Was Cured by Lydia E. Pinkham’s Vegetable Compouncl. Spring Valley, Ill. — “For many montha ffered from peri h vised me to t il Lydia E. Pinkham Vegetab ce a change for better, and af- s [ am in perfect health, and 1 cannot thank you enough for the relief it has given me.”’—M KATE LAWRENCE, Box 725, Valley, IIl. School girls and s who are em- ployed at home or in some occupation should not continue to suffer tortures Spring at such times, but profit by the experi- | cnce of Miss Lawrence and thousands of others who have_tried this famous ham’s Vegetable Compo , write the Lydia ham Medicine Co., Lynn, Mass. h result of their 40 years experience in advising girls on this subject is at your service. 'NOTICE TO MOTHERS You can quickly heal baby’s sore, chafed skin with Sykes Comfort Powder which contains antiseptic, healing ingredi- s not found in any other nu ganizations, which of interna- magnitude, will conducted by the individual companies as in the are W. M. Bassett, president of Express Company, will director and a men of the e tive committee of the new company. He w president of the Adam investment and the be a rer ecu- continue looking after Regional operating presidents of the new company are Robert E. M. Cowie for New York, E. A. Stedman for Chicago, C. D. Summy for M. Williams for Atlanta and teson for the San Francisco All ‘of them are now execu- with the old companies The other vice St operating active expr flicers, all of officials, are s president; York Decoration Day The day on which we pay tribute to those who fought and died to save our countrv. Who by their untiring energy, pluck and force of character made possible our security of today. Thoughts of them remain a sacred and precious memory of the American People today. Let us then honor those brave soldiers, who at the awful sacrifice of giving up their lives, in a terrible struggle to uphold a principle, died to preserve this glorious country of ours. Therefore, in reverence te those who died that we might live, we will remain closed during the entire day Thursday, May 30th. Decoration Day Open Wednesday Evening Until 9 CONNORS-HALLORAN CQ. 248 Main St. New Britain, Conn. Elliott of New York, traffic vice | S. John W. accounting Holbrook, assistant to the Presi- rgener&! counsel, and E. E. Bush dent in Washington; T. B. Harrison | New York., manager of purchases and C. W. Stockton of New York, | maintenance. Newlean of New vice ‘president; F. AW (e .\“w SN i - 4y e ANHEUSER~BUSCH, ST.LOUIS. The universal popularity of Bevo made it necessary to erect this building~ the largest of its character in the world. Covers two city blocks. Floor space 26 § 13 tracks each to-accommodate ten freight cars. Will employ 2,500 people and have a bottling capacity of two million bottles daily, equal to 140 car loads,on an eight hour.day basis.