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Show ENGINEERS OFFER FORD CHANGE IN WALLST.FIGHT Brotherhood Cooperative Bank Plans to Battle for Place in New York's Great Financial Center MILLIONS DEPOSIT WILL PERFECT SCHEME i Representative of Workers Institution Goes to Detroit Next Week to Put Proposi-tion Proposi-tion to Auto Manufacturer CLEVELAND. Oct. 7 (By U. T. Plans for a gigantic combine of the Interests of Henry Ford and the Brotherhood Bro-therhood of Locomotive Engineers Cooperative bank for a finish fight on Wnll street became known hsre today. Joseph J. Hobert Jr., general financial finan-cial agent of the bank, announced today to-day that he will go to Detroit next week to see Ford. Hobert plans to ask Ford to Join with W. 8. Stone, grand chief of the Locomotive Knglneers and president of the bank, In carrying the cooperative coopera-tive bank In v movement Into New York. It is expected that Hobert will ask Ford to put a deposit of from $0,-OO.Oon $0,-OO.Oon to I75.000.uo0 inlo the bank. It Is understood that Stone feels that f 1 7.0y0.l00. the bank's present funds, are not large enough with which to go Into New York. In a statement to the United Press today Hubert said; "We have thought over Mr. Ford's position In the financial world and believe that his entrance Inlo the cooperative co-operative plan would be of great benefit bene-fit to the workers of the nation, as they would share In all the pro flu of our bank. Under the cooperative system, 4 per cent Interest Is paid on deposlta. Then. after ntn.i, nfiuinw rWn on-capital on-capital stock. Is paid, the profits are divided amng the depositors In the form of dividend.- . If Ford roes Into the deal, financial i observer take It to mean that be has decided to give Wall street a bsttle on its own territory. The alliance between the Brother, hood of Ixwomotlve Engineers' bank and Ford would be one of the largest and far reaching financial deal ever arranged. |