The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1910-07-27
CHALMERS CO.
CUTS FAT MELON
Declares Cash Dividend of 80 Per
Cent and Stock Dividend of Thou
sand Per Cent.

In the annual meeting of the Chal-
mers Motor Co. stockholders, Tues
day. q cash dividend OF 80 per
cent. and a stock dividend OF one
thousand per cent on the capital stock
of the company were declared. The
one thousand per cent stock divided
mems the increasing OF capital
stock Of the company from 100000 to
100000. This does not mean the
issuing of new stock for sale. as the
entire stock dividend was divided pro
rata to all the stockholders, the par
value of the shares being raised from
$40 to 500 each.
When the Chalmers company was
originally organized, it occupied only
small plant and put out few cars.
Furthermore, 1T was not doing much
of Its own manufacturing at the home
plant, but was -hnying most OF the
parts outside and assembling them
here.
During the last two years however,
the company has erected many new
buildings, put in a complete equip
ment Of the most up-to-date machinery
needed in automobile manufacturing,
and altogether has put $1,500,000 into
buildings and machinery for the pur-
pose OF doing its own manufacturing.
The business and the plant have
grown to such an extent that a new
capitalization was thought to be de-
sirable as more nearly representing
the asset value of the company than
the former capitalization Of $500, 900.
The annual report OF President
Hugh Chalmers showed that the last
year had been very successful one
for the Chalmers company In every
respect. A feature OF the report was
the remarks made by Mr.. Chalmers
regarding the future outlook in the
automobile industry.
I'VE think we have every reason to
look forward to another great year In
1911 and for many more such years to
follow" said the report. Since our
1911 models were announced a few
weeks ago, we have been In the midst
OF a rush Of business such as We have
never before experienced We have
now more orders for cars for immedi-
ate shipment than we have ever had
before In the history OF the company
at any one time. We believe we shall
have no difficulty in selling all OF the
cars that we plan TO make for 1911.
Our policy with regard to the number
manufactured will remain Just the
same as heretofore. We shall not try
to see how many cars we can make,
but will bend all of our efforts toward
making the limited number that we
put out of the very highest quality
possible. We now have a plant that
Is second tc none in the industry and
IL we cared to we could compete with
almost any company on the basis of
quantity. However, We prefer to keep
our production well within the limit
OF healthy demand for our cars and
to devote our surplus energies to i'm
proving the quality of our product
without increasing its prices.
I'VE do not agree with those people
who say that the automobile business
will blow up There may be blow
of some time, but not blow up
and II this blow off comes, II will be
healthful thing, in the long run,
working to the interests of the buying
public inasmuch as 1t will mean the
elimination OF concerns which have
not or are not now giving the great
est possible value that can be given
for the prices asked"