Sphagnum short-lived, and consists almost entirely of a shiny green, spherical spore capsule that becomes black with spores. Sporophytes are raised on stalks to facilitate spore dispersal, but unlike other mosses, "Sphagnum" stalks are produced by the maternal gametophyte. Tetrahedral haploid spores are produced in the sporophyte by meiosis, which are then dispersed when the capsule explosively discharges its cap, called an operculum, and shoots the spores some distance. The spores germinate to produce minute protonemae, which start as filaments, can become thalloid, and can produce a few rhizoids. Soon afterwards, the protonema develops buds and these differentiate into its characteristic,
American Type Founders that company to be even less profitable than was thought, Gillick was forced to resign. Thomas Roy Jones, a businessman with no experience in type founding, replaced Gillick. By 1933 the situation was desperate. Sales of type were less than 30% of 1926 levels while purchases of Kelly presses had plummeted to a mere 6.8% of what they had been. In October 1933 Jones filed a voluntary petition for bankruptcy. ATF was placed under the control of its creditors (chiefly consisting of several banks) and drastic measures were taken. Operations were consolidated, the Jersey City plant was closed and the