Monday, Jul. 04, 1927

Mittens Withdrawn

To the triennial convention of the Brotherhood of Locomotive Engineers in Cleveland, President William B. Prenter presented a financial proposal from Mitten Management, Inc. This corporation, headed by Thomas Eugene Mitten and his son Dr. A. A. Mitten, has been remarkably successful in operating street cars, motor busses, taxicabs and a bank in Philadelphia, also a street car line in Buffalo. Their plan has been to permit employes to share in the management, investments and profits of their enterprises.

Their offer to the B. of L. E. was to take over the management of eleven banks and seven investment companies which the Brotherhood owns. The value of these institutions totals $89,000,000. To this the Mittens proposed to add a "substantial amount of new capital" when they assumed management.

Within the Brotherhood conferences in Cleveland last week criticism developed against the Mittens' proposal. Learning this Dr. A. A. Mitten telegraphed: "The apparent impossibility of there being a sufficiently unanimous accord of the convention in approval, prompts us now to request that the proposition ... be now withdrawn." Said B. of L. E. President Prenter: "Other plans preferable to the Mitten project will be brought before the convention."