New Britain Herald Newspaper, February 3, 1927, Page 2

FORD'S WEALTH 13 MUCH OVER BILLION May Be Worth Couple of Bil- lions, Former Oficial Says Washington, Feb. 3.— (UP) — Henry Ford, the world's richest man, is & billionnaire and perhaps a mul- ti-billionaire. “Ford is worth at lease $1,500,- 000,000,” Norval A. Hawkins, De- | troit accountant, formerly sales manager for Ford, told the United Press today. “He has about $400,- | 000,000 in cash in banks.” The flivver king may “even be | worth a couple of billions,” Hawkins intimated. He said that in estimating the billon and & half he dd not in- clude Ford's railroads, mines, or Loldings in the Ford Motor Company | of Canada and the Ford Motor Com- | pany of Great Britain. » | Joseph McCoy, actuary of the | treasury, in analyzing income tax re- turns, recently said America now has its first billionaire. He men- tioned no names, but Hawkins state- ment showed that Ford “is in that classification.” Hawkins Is a witness for the de- fense in the government $6,000,000 tax suit aganst Senator James Cou- zens, Mich., and ten other defendants who sold Ford the minority stock in the Ford Motor Company in 1919 for $107,000,000. All defense witnesses so far have painted a romantic tale of the story of the rise of Ford. They pointed out low he produced a low-priced car | and from the years 1906 to 1913, never made less than $170 on each machine sold. His profit per car one | year ran as high as § Dr. David Frid economist, charact ed the Ford business as the “seventh wonder of the world.' He placed the value of Ford stock on March 1, 1913, at $12,000 a share. The government contends the stock was worth only the main problem in the entire suit, it the government valuation stands, the defendants must pay about $36,000,000 more taxes. Fred Detroit accountant and partner of Hawkins, probably 11 be the first witness for the de. tense today. Later in the week the defense may call Senator Couzens. The government has seven attor- neys, while the defendants have 15. So far the defense has offered 93 exhibits to support its case. Counsel for the defense come to the court room each morning with a trunk full of data and brief cases loaded with information. Street ) — Henry billion dol- is_automobile business was seen in financial circles today as further evidence of his antipathy to_Wall street. Testimony of Ford's the billion dollar offer was given by John M. Prentiss at a hearing in Washington vesterday in the government's $30.000.000 tax suit against former minority stockhold- ers of the Ford company. Wall even in the ‘“deflation” of 1821 when Mr, Ford was pinched for cash he declined assistance from New York bankers. Except for one instance of hand- ing to a Wall street financler the financier's hat, TFord has been a zood host to callers from the New York financial center. York financiers at various times have been his guests in Detroit but only on the stipulation that talk of buying his company was barred. Ford has been a big lender of call money in Wall street through banks in which he deposits but there is no record of purchases or sales by him through any stock change. Edsel Ford, his son, at various times, has been credited with _being a large buyer of Hud- son Motors. v companv will never go to Wall street,” Henry Stock of the Ford Motor com.- pany i3 not available in any mar- ket, but the Ford Motor company of Canada is quoted on the W York curb, presumably against Ford's wishes. “Oh, you are one of those Wall street guys,” was his greeting to Mr. Prentiss, now senior member of the Wall street firm of Horn- blower and Weeks, when Prentiss went to Ford with the first of his sensational offers which flnally touched the 10-figure sum. Made Great Fortunes One of the younger generation So Soft So White | By Edna Wallace Hopper. Nearly every woman who sees them envies me my hands. They ask me how I keep them so soft, so white, so young. They know that T travel all the time. My stage work encounters all sorts of grime and dirt. In most ties the water is hard. Yet the most sheltered women rarely have such hands. They never chap. The reason lies in a hand lotion perfected for me by great experts. I apply it whenever I wash my hand It is not greasy or sticky. It disap- pears at once. And it overcomes all that water does, all that soap docs, all that grime does to the hands. Also all that weather does, all that the years do. My own hands form evidence supreme. This hand lotion is now supplied by all toilet counters. It is called na Wallace Hopper's Youth Ha Lotion. The price is G0c. I urge you to try it. I think Tt tried nearly everything of this kind, but nothing compares with th A guarantee comes with it. Your dealer will return your money if it does not please. Go get it and see what it means to you. Trial Tube Free a0 Edpa Wallace Hopper $36 Lake Shore . Chicago, Mail_ me & fres trisl tube of Youth iTand Lotion. $3,500 and that is | : | fused refusal of | street circles recalled that| Several New | Ford has said. | of Wall street bankers, Mr. Pren- | tiss came to New York 25 years ago with little more than ambi- | tion, hope and seif-confidence. Now he is rated a muiti-millionaire. | It was as a representative of the old New England firm of Horn- blower and Waeks, of which he is |now the head. that Mr. Prentiss entered the arena of New York fi- nance. en he was sent here |from Boston his orders were to “dig up” business. He did—though he started His reer at a time | when the general public knew and | cared little about bond issues. A orous “hotisc to house” cam- | |paign alonk Wall street soon made him known and promotton follow- fast. Specializing_ in automotive fi- nance, Mr. Prentiss has _handled | | the securities of Dodge. Chevrolet, | | General Motors. Hudson™ Motors | and more recently the Timken | Roller Bearing company. However, | the $1.000.000.000 Ford deal. if | jsuccessful. “would have been not only the high point in his career but an accomplishment unpre |cedented in the whole history of | finance. | 1f the deal had gone through. | 1 e leaders believe, th would have been entirely apitalized and the se- curities distributad to investors in all parts of the country. RAILROAD MERGER PLAN QUTLINED {Great Northern Chairman Ex- plains His Stand New York, Feb. 3 (# — Rumors impending raflroad mergers |held the attention of Wall street {today as remewed activity was |noted in rail stocks. Rumors that the Baltimore and has contracted to purchase or part of the Rockefeller holdings in the Western Maryland and Wheeling and Lake Erie were | | revived as Wall street sought an| explanation for the advances in| | stocks of the last two roads. ' | Reports from St. Paul, Minn, |that the Minneapolis and St. Louls | railroad would be included in a {new merger providing the first di- rect one-line rail connection be-| |tween St. Paul and the east also| {were considered by rail interests. | | The reported agreement between ithe B. and O. and the Rockefeller |interests is said to have been made |in the interest of another road. | |Both the Rockefeller office and | |George M. Schriver, vice president | lof the B. and O., yesterday re- | to discuss the rumors. | | Those who accepted the rumor, | |however, emphasized that an | agreement as to traffic and track- | lage has just been made by the | | Baltimore and Ohio, the Pittsburgh | |and West Virginia and the Wheel- ing and Lake Erie, establishing |through freight rates over the lat- ter two roads to points on the B. and O. Wheeling and Lake Erie com- | mon closed at 63 1-4 yesterday, | with a net gain of 3 3-4 points, | Trading in Western Maryland was | heavy, although the net gain on a | turnover of 106,700 shares was only 3-4 of a point. The St. Paul Pioncer Press said that indications that the Minne- | apolis and St. Louis would be in-| cluded in the merger arc seen in the transfer of 25,600 shares of | the road's stock at $2 advance | |over current prices on the New | | York exchange yesterday. | Three brothers of Louisville, Ky ‘ are holding paper profits of about $1,750,000, if they have not vyet| sold thelr 30,000 shares of Wheel- | ing and Lake Erie stock, the New | | York World says. The brothers, C.| X R. and A, D. Reynolds, | bought the stock in 1920 at an| |average of $10 a share and held | |1t through the sensational rise of | Wheeling and Lake Erie recently. b B |ot | Great Northern R. R. | St. Paul, Minn., Feb. 3 (UP) —| Louis W. Hill, chairman of the | hoard of directors of the Great | Northern rallroad, revealed in an | interview that he was the author | |of a plan for consolidation of that | |line with the Northern Pacific “to,| frustrate plans of eastern interests to make the Burlington a holding company which would lease the two Northerns.” | | The railroad head did not men- tion the names of the “eastern in- terests.” The two Northerns to- gether own 97 per cent of the stock of the Buriington. It is ad- mitted that the Burlington even- tually would become a part of the consolidation. Hill termed merger of the North- erns “logical” because more than | 50 per cent of the stock of each railroad is held by the same group | of men. “The eonsolidation has been in | mind for more than 25 years,” Hill | sald. “Nothing developed en- courage it until after the war. | Then economic conditions brought | about a state of mind where the interstate commerce commission and even the people favored mer- | gers. “The 1. Ow C., after | study, placed the Gre and Chicago, Milwaukee Paul in anoth: >resident Charles Donnelly of | |the Northern Pacific and President | Ralph Budd of the Great xornmnf had a thorough caretul | Northern and 8. | study made for | their companies and appeared he- fore I C. C. to prove that its 2o was not beneficlal for the Northwest | “The commission took no action because the transportation act of 1920 encour Iroad consoli- dations complete, lacking enabling For rea- |gon, certain railroads > been |before the commission pro- | posals of unification through stock | rship and of such is | Great Northern-Northern Pa- | “rm. plar | was legislation, | “The pre the | | simplest |could ve stockholders well." ent proposal is by fairest plan that | not only to the public as | 666 s a Prescription for ‘x(*_ol.ds, Grippe, Flu, Dengue |Bilious Fever and Malaria It kills the germs offered, but to | | | | | University of Maine and the Univer- | sity of Southern California where she 923 |1 'TRAGIG TALE FROM | he found Mackintosh dead. NEW BRITAIN DAILY HERALD, THURSDAY, FEBRUARY 3, 1927, INEW YORK'S DRIVE OUR SCHOOLS And Even Higher Type of ewspaper Stories Are Urged in Gotham’s Drive to Avoid an Official Censor. New York, Feb. 3.—(#— While Broadway theatrical producers were | prepared today with a tentative plan [to avoid official censorship the de- | mand for a more virtuous New York | spread to music and the newspapers, particularly the tabloids. Municipal adoption by ordinance of the now unofficial play jury was indicated as the plan by which the stage seeks to block official interfer- ence. As the demand for a cleaner New York extended, Broadway plays to- | day had a champion in Dr. Donald “Clivn Stuart, of Princeton university. Dr. Stuart predicts “bootlegging” of plays if officfal censorship is decided | upon. An tmmoral play may shock, | but it will not harm anybody, | vetieves, —FPhoto by Johnson & Peterson. MISS PEARL M. SNOW Pictured herewith is Miss Pearl M. Snow, teacher of American his- tory at the Senior High school. She was born in Exeter, Maine, at- tended the high school of that place, the Eastern State Normal school at Castine, Maine, and the University of | Maine. She studied further at the City Ordinance Reports that the theatrical inter- | ests would ask for a city ordinance, | formally recognizing the play jury s and at Colum- | System established by the district at- }mrm.y, were current today after a three-hour conference among repre- | sentatives of the actors, producers and playwrights yesterday. | City officials and the district at- | torney’s office today awaited details | of the plan. Winthrop Ames, chair- | man of the stage committee, says the | plan will be worked out in detail and |adopted immediately if it is accept- {able to authorities. | Producers Combine Legislative threat has brought New York producers, | disbanded since 1924 because of dif- ferences as to polley toward the Actors' Equity association, together again in a common fight against out- side “meddling.” The proposal under consideration, Mr. Ames explains, is available for the consideration of “the legal au- thorities and the public officials re- sponsible for drawing ordinances.” The committee sponsoring the new | plan comprises: Ralph Morgan, | Katherine Emmet, and Frank Gil- | more, actors; Arthur Hapkins, The- resa Helburn, and Winthrop Ames, producers; George Kelly, Sidney | Howard, and Arthur Richman, | dramatists. took summer cours bia university where she took exten- slon courses. Her duties in this city began in Prospector Staggers Into Town —Pal Died on Way Crested Butte, Colo., Feb. 3 (UP) —A strange story of hardship and death in the deep snow of the mountains near here was being In- vestigated today by District Attorney P. H. Stone, who ordered an au- topsy on the body of Earl Mack- intosh, 29, mining operator. John Fitzsimmons, 28, partner of Mackintosh, staggered into town yes- terday with a story of how he and Mackintosh had started from the Keystone mine for town on skis| “If the censors stop plays the Tuesday. producers will start bootlégging Mackintosh broke both his skis in | them.” said Dr. Stuart, whose clas soft snow, Fitzsimmons said. He for Crested Butte on one ski aplece, | Broadv but were unable to make it. I have seen and heard of men Fitzsimmons sald he climbea a|Who have been hurt by drink,” he tree and kept from freezing by beat- | ASSerted, “but never in'my experi- ing his hands and foot against the |€NCe have I'ever run across anyone trunk all night, but in the morning | [Nat had been morally injured in any | way by the spoken drama.” Pootleg Plays “Bootlegging of plavs carried on just as bootlegging of in- toxicating drinks,” he declared. “If ,plays arc censored, private societics 1will be formed which will charge no | admission to the plays, but to go one A scarch party brought the body back last night. After an examina- tion, Stone eaid he believed Mackin- tosh either died of exposure while drunk or had been slain. Fitzsimmons was taken to a hos- pital, suffering from exposure, — | GANG TRIAL ENDING Shelton Case at Quincy, I, May { Be Concluded Today Quincy, I, Feb. 3 (UP)—| Whether southern Illinois s to be free of the Shelton gang probably will be made late today when tho case of Carl, Bernard and Earl Shelton, charged with a mail hold- up, goes to the ury. Defense testimony in the case,| case, which grew out of the holdup of a mail messenger at Collinsville, | IIL, when $15,000 was taken, re-| mained, to be completed and it was| expected the jury would be given| the case hefore 5 p. m. The Sheltons have made a strong alibi. The three brothers testified yesterday that they were no place close to the scena of the holdup. | Many other witnesses alded in| forming the alibl. | Hot from The Griddle NOTHING tastes beiter than pancakes — hot from the griddle. And if there’s a square of melting buiter—a pool of syrup— and a crisp morning out- side, s0 much the better. They taste better when baked with Grandma’s Pancake Flour. Compare it with any other. Grandma’s PANCAKE FLOUR money can buy. he | | of censorship | can be | FOR CLEANER 3 PLAYS BEING EXTENDED TO MUSIC | must be a member of the club, and | there will be membership dues. The play jury could not stop such pro- | ductions.” “It doesn't matter whether a play |is moral or immoral,” he maintained, “if it is immoral a person is shocked but not harmed.” Audience as Judge “The audlence itself is the most capable judge as to the morality of a play,” he asserted, urging that “a mature audicnce is by far the’ best censor.” The theater has always had the reputation of being immoral, he said, and it will probably have it for many years to come. The public and the dramatic critics are chiefly responsible for un- clean plays, said John Golden, pro- ducer, in a radio address last night. | The theater is immoral at present, he sald, because the public wants it |that way and because the eritics | bestow generous approval on vicious | productions. Opposing censorship, he insisted | that no man is big enough to be a | stage censor. “An intolerable situ- |ation” would result from officfal in- terference, he maintained. Puret Music Drive New York Plano Merchants’ asso- | ciation are distributing coples of a | resolution binding themselves not to \sell any shoet music, phonograph | record or piano roll, the title or | wording, of which is “lewd, lascivi- | ous, salacious or suggestive.” The resolution was adopted yester- | day in a desire to “clear up a situ- ation that is becoming more and | more undesirable,” it is explained. In a campaign launched by three Princeton students, Mayor E. Mul- ford Updike, yesterday asked Prince- | to remove from their stands two New York tabloids. The action was taken because of | graphic accounts of the Browning | trial carried in the papers. | The Weehawken, N. J. council's law committee is consider- ing a resolution that would prohibit sale of newspapers carrying de- |tailed stories and “sex pictures” of | cases like the Browning su Wechawken newsstands. Dope Peddlers Landed ton newsdealers By Disguised Police | Rochester, N. Y. Feb, 3 (P— After posing for two months as tramps and drug addicts, two detec- tives today revealed their identity | by arresting two alleged wholesale | narcotic peddlers and six drug ad- | dicts after hand-to-hand conflicts in raids on three ‘dope nests.” Large quantities of alleged morphine | and cocaine were seized. in dramatics at Princeton yesterday | removed one of his and they started | Voted “The Captive” the best play on | SUZA £ T PAY Paris, Feb, 3 (UP)—The French’ | government was preparing today to | collect §40,000 in income tax from Suzanne Lenglen, French tennis star, provided of course, that she makes her reported profit of $100,- (00 from professional tennis | matehes in the United States. Mile. Lenglen, who has been tour- |ing the Wnited States under C. Pyle, will have to meet the large till under the French law, although | she may have to pay still more to | American tax collectors. SALT sealed-up-tight, deliv- ered to you clean, pure and in perfect condition. Always free-running, no hardening or lumping. The finest salt Ask grocet. township | | with a simple home treatment. | rheumatic sufferers for flean because the nerves. It | warm glow of comfort. "Stiff joints | stops and soon you are completely ! | All druggists—35 cents. CHILE DEPUTIES OPPOSE U. §. DEBT AGREEMENT Charge Finance Minister With Sign- ing Away Country's Economic, Independence. Chile, Feb. 3 P— Answering charges made in the chamber of deputies that he had practically signed away the econom- ic freedom of the country through a recent loan contract in the United States, Minister of Finance Edwards explained to the deputies last night that the terms of the contract refer~ red to were similar to those entered into by Chile on former occasions. The minister declared there was no real danger to Chile through the loan contract, and after a brief de- bate the chamber adjourned with- out voting on the motion of censure which had been presented. The first international attempt to limit armaments was made at the Hague convention in 1899. Santiago, Elderly people rarely esoape HAD RHEUNATISM FOR NARY YEARS Got relief| at last with simple home treatment A martyr to rheumatism for almost 2 lifetime, a man from Wyocena, Wis., writes that he can always get relief ‘“As a man of seventy, for years a sufferer from rheumatism, I want to ive my recommendation for Sloan’s iniment,” he says. “It is a fine }'emeds: and will do all that is claimed or it.” Sloan’s has been the standby of it doesn’t just deaden helps the body to throw off the germs and poisons that cause the trouble by speeding up the circulation right in the affected spots. Apply a little lithly. Cithout rubbing. Immediately you feel & and muscles limber up. The aching | free from pain. Get a bottle today. | MAKE A TOLLCALL. GLOBE CLOTHING HOUSE WOMEN! 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