Word: huppe
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...months ending June 30 Hupp Motor Car Corp. last week reported a net loss of $349,966 against a net loss of $479,551 for the first half of 1936. In a year of booming automobile sales this reduction by itself might appear small comfort to an old and long stagnant motor-maker. But the true state of Hupp was discernible last week not in its profit & loss account but in the balance sheet and in its big plant off Detroit's East Grand Boulevard. In both of these stagnation lurked no longer...
...young Minnesota Swede who had been a diamond-drill operator in the iron mines until the slack season of 1914, Carl Wickman became the Hupmobile salesman in the bare little town of Hibbing. Unable to sell the first Hupp sent him, he began a small livery business. Collections on his first trip amounted to $2.25. Presently he added a partner, another automobile, scheduled trips. By 1918 the company was making some $40,000, had 18 ramshackle busses in northern Minnesota...
Auburn Automobile Co, lost $2,697,000 in 1935 as against a loss of $3,724,000 in 1934. With General Motors, Ford and Chrysler selling about 92% of 1935 cars, the little companies have hoed a hard row. Last week the Hupp plant was closed and Hupp President Vern Drum had resigned. Willys-Overland secured a court order allowing it to build 15,000 units, partly to keep labor off relief rolls...
...Hupp has this month rid itself of Promoter Archie Moulton Andrews, director and holder of various stock options and commissions dependent upon sales increases (TIME, April 15). Said Federal Judge Arthur J. Tuttle of Detroit in voiding these contracts: "Andrews' conduct was so bad that it seriously seems necessary to attribute all his conduct to an unbalanced mind and a dishonest mind. I cannot account for his conduct on the basis of one of those attributes alone. Acts of Andrews . . . had to do almost entirely with getting money out of the corporation...
...Hupp lost $4,398,000 in 1934 and $880,000 in the first four months of 1935. Then President Vern R. Drum, who used to work for Chrysler, took office, reduced costs, cut losses, added dealers. But Hupp is still in the red and, though nine-month sales were 35% ahead of 1934. they add up to only 6,018 cars...