The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-08-13
THE OTHER SIDE Of THE AUTO
MOBILE BUSINESS.

'1hG4 lOII1G1I4 SlDlL DF' TILE AU1Os
MOBILE BUSINESS.
Somewhat alarming reports have
been printed recently IN the Northern
and Western newspapers about tho
over-production Of automobiles and
the extravaganza OF the people in
some Western communities in buying
these very useful machines which
have caused revolution In transport
tation and have resulted in the con-
struction Of thousands of miles Of
good roads in all parts Of the country.
The opinions of many bankers and
brokers have been quoted as terri
BILE warning to those who have been
affected by the automobile habit, anu
one particularly active concern sent
hundreds Of letters to its correspond
ents asking for an expression Of opin-
ion as to the number OF buyers Cf
cars who could not afford to own
them.
The answers We're Forthcoming.
and some Of them were on the right
key for the tune to be played. patten.
the man who made million or so in
wheat, and a million or so in corn,
and a million or SO in cotton. told the
reporters in New York that bank
In Kansas City held nlortga ges/on as
many as ffty-two machines, and that
1t intended to stop that sort OF bust
ness: he did not give them any, fig
ures, so far as we are informed, as to
the number of borrowers who had
gone into the marker with him or
against him in his wheat, corn and
cotton enterprises. anu had been ac-
icommodated by banks In different
parts Of the country. That, of course.
was not essential, to clear UNDER.
standing Of this case, although an IL
Illustration of this sort might have aid.
ed the reporters IN estimating
the extravaganza Of living be-
You'd ones means OF course man
Tor woman who can't afford to buy a
machine ought not to buy 1t; neither
should man who can't afford to buy
a. suit of new clothes or a woman
who can't afford a tailor-made gown
buy them. The rule which would be
applied to the purchase of an auronio-l
bile should also be applied, ana Is ac-
tually applied, to the purchase Of any
other article of luxury or necessity.
The banks and other money lending
agencies may be depended upon to.
take care Of their own interests by re-
quiringa ample security.
Detroit is one Of the largest auto
mobile manufacturing centres in the
country and the industry there is in a
hourishing condition. The last number
OF the Detroit Saturday Night devoted
a full page to an article written by.
H.. M. Nimmo in which he gives the
answer of the bankers of Detroit to
the automobile pessimlsts. who have
been trying to save the country BY
soaring the bankers. Mr., Nimmo sum
marizes what the bankers told him as
follows:
l.. seven-eighths Of the automobile
accompanies in Detroit are on a sound
and sure business footing.
80. Reports OF the mortgaging of
ishomes and propepty for the purchase
of automobiles have been grossly. eN-
Exaggerated
8. Overproduction has not occurred
and$th demand for automobiles SHOWS
no sign of abatement.
4. Motor trucks and delivery wagons
are fast coming into common use, and
this part Of the industry i $ only in its
infancy s3S,5.
s.. The manufacture Of automobiles
lis not different from the bankers
point OF view from the manufacture
Pof other articles of commerce., and
should be treated with the same con :
Fsideratlon,
6. There is no way known on top OF