Word: motoring
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...aged 40, he raised $28,000 and started again, this time to make his "car for the masses." Nevertheless, his Ford Motor Co. at one point was only $223.65 short of bankruptcy again. It was saved only by the arrival of an $850 check from a Dr. Pfenning of Chicago, who bought the company's first car. In two years the company was so successful it could proudly mail out a 100% dividend...
Among them: ¶ Ford Motor Co. has spent $900 million postwar, much of it from profits, for new plants and modernization. It will spend $500 million more in the next two years to boost its present car-making capacity of 2,378,000 a year by another 30%. The new plants will span the continent: a $100 million assembly plant near San Francisco, a $75 million plant near Louisville, and a $90.0 million one at Mahwah, NJ. Other millions will be spent to almost double the facilities of present plants in Cleveland and Cincinnati, retool a tank plant at Livonia...
When James J. Nance quit the presidency of Hotpoint Co. (appliances) to take over Packard Motor Car Co. eleven months ago, his old employers gave him a notable vote of confidence. Hotpoint's parent company, General Electric, bought 25,000 shares of Packard for its retirement fund. This week Jim Nance, 52, proved that the confidence was well deserved. Packard's first-quarter profit of $10 million before taxes was better than in any other three-month period in the company's history. On sales of $123 million, Packard netted $3,510,062, almost triple the figure...
...mile trip to Sun Valley, the cars averaged 44.7 m.p.h., racked up an average 22 miles per gallon. The big winner, for the fourth year in a row: Ford Motor Co., whose Ford Mainline Six, driven by Les Viland of the Ford engineering department, averaged 56.7 "ton miles" per gallon (weight of car and passengers in tons, multiplied by mileage, and divided by gallons of gas consumed). On the basis of actual miles per gallon (27.03), the Mainline Six was second to a four-cylinder Henry J "Corsair" (28.25). In third place was Studebaker's six-cylinder Champion, with...
Registrar of Motor Vehicles Rudolph King yesterday said his inspectors and police will be on every highway early Friday looking for violators. Drivers of cars without stickers will be prosecuted...