The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1911-01-12
kR|T MOTOR CO.
s0LOT0.sYNDICATE
Walter Russell, of Russell Wheel &
Foundry Co., Will Head New Di-
rectorate-Plant To Be Enlarged.

A syndicate headed by Walter Rus.
sci, of the Russell Wheel & Foundry
Co. has purchased controlling m
terest in the Krit Motor Car Co., one
of the most flourishing OF the younger
motor companies in the city The
negotiations, which have been con-
Quoted through Mr.. Russell, will be
concluded Thursday afternoon, wnen
"a new set of officers and new board
OF directors is to be elected. Mr.. Rus
sci will head the directorate. The
transfer of stock was on par basis
The Krit Motor Car Co. manufac-
lures the K-R-I-T car, classy little
runabout that sprung into instant
favor on It's initial appearance few
months ago. The company's factory
at the foot OF Leib-st will be cor
tinued and IL Is understood that the
facilities for manufacture will be
greatly increased
The deal is regarded as one of the
most important put through in local.
motor circles for some months. Most
Of the men interested in the syndicate
are Detroiters.
The capital of the company Is $780,.
900, and the syndicate buys the unis-
sued stock at par. 1t will also buy
whatever stock is not subscribed for
by the present stockholders, who have
turned back into the treasury of the
company large enough percentage
of their holdings to put balance
on par basis.
AN inventory of material on hand.
a large part of 1t already fabricated
for assembling, shows that compara-
lively little new material and as
sembling labor will prepare several
hundred cars FOR immediate ship
ment," said Mr. Russell. "rhe COM
PAM has shipping orders for as many
cars as it can possibly get out in its
present quarters At the Independent
show, in the Grand Central palace,
New York, last week the K-R-l-T ex-
hibit was the talk OF all visitors and
the eastern K-R-ET agents increased
their requisitons from day to day
The present officers Of the com
pany, looking TO the new management,
have presented their designations. W..
8. Piggins. president, will be succeed
cd by Lawrence Moore, who will also
have the title OF general manager. Mr..
Moore has been from the start con-
nected with the automobile industry
and gives up his position rs general
sales manager of the Russell Motor
Axle Co, 20 take the management OF
the Krit company. F. w. Kanter Sec
retary, will be succeeded by y. Z.
Doughty. who for the present will
also take the Office Of treasurer, from
which office B. c. Laughlin resigns.
w. 6. Russell will be chairman or
the board OF directors. Kenneth
Crittenden. who designed the Krit
cars, will continue his associa-
ton with the company as head OF
it's engineering department, and Tor
the present will also retain the ofiiee
of yice-president. which$he now holds.
An announcement later will show a
more complete list of officers and
heads of departments.
The transfer, II is said. grows out
of necessity for additional capital
10 carry on the business. The com
pany. like many others, loaded up on
raw material, and when the market
for cars slumped. found itself short
of ready capital, one OF the men init
mateIy connected with II explains.