The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1915-08-21
PAYS AUTO
FIRM DEBTS
Creditors of Abbott Co.
Get 100 Cents Year
Ahead of Time

The CONSOLIDATED Car Co, OF De
troit. organized last December to
take over the business, good Will
and other properties OF the Abbott
Motor Co. and TO assume the indebt-
edness of that company. has Just
completed payments 20 The Security
Trust Co. OF Detroit. trustees OF the
original Abbott company. covering a
full 100 cents on the dollar to the
creditors.
This procedure on the part CT the
Consolidated Car Co. has created
something OF a sensation In the bus
mess world As matter OF fact, II
Is the frst case In the history OF the
automobile industry in this section
In which a motor car concern has
become fnahcfHlly involved. has
worked out and paid the original
creditors 100 cents on the dollar
The usual financial procedure IL Is
needless 20 say. is somewhat differ
ent and the common method is not
confined to any one line of industry
The action OF the Consolidated Car
Co has brought its officials many
congratulations and words OF high
praise The precedent established
Is significant IN two respects. c. l..
Lewis. president OF the company
believes 10 reflects the absolute
stability the automobile industry has
attained, and II unquestionably re-
fleets the strength OF the new organ
ization's personnel and the merit OF
the compaGy's product,
The Abbott Motor Co. while con
trolled by Pittsburgh capitalists be.
came financially involved a year
ago. due 20 lack of working capital.
In November last NJ. j Hammers,
who had been connected with the
production and marketing of the Alb
hott.Detroit. secured an option pro
viding for the purchase OF the bust
ness, on condition that all the In.
debtedness outstanding at that time
pa taken care OF during a given pc
Rod
Toledo capitalists became interest.
ed in the proposition. c. L. Lewis. OF
that city. taking an active part in
the affairs Of the new organization
IA president The new company
started operations Dec 26. 1914 II
has been manufacturing an eight
cylinder. seven-passenger car. and
the fact that II has been able 20 pay
Of all the old Indebtedness dollar
FOR dollar year before the expira-
ton OF the time originally agreed
upon is pretty good evidence OF the
merit OF the product and the success
In marketing H.
The car manufactured by the Con
solidated Car Co. Is known as the
Abbott Detroit "Eight-so." II is a
roomy, luxurious and elegantly APP
pointed automobile OF the seven-pas.
senger type, with an so horsepower
plant, and ~ has already gained a
strong hold on motorists IN Chicago.
New York. Boston, Detroit and 9th
er cities Tho car Is turned out In
a standard convertible FIVE and sew.
cn-passenger model. the speedster
roadster and several types OF closed
bodies.
The plant OF the company is To-
Gated AZ Lafayette and Meldrum-
ayes. Detroit. and has been lncreas-
cd in capacity from time 10 time
since operations began last winter.
The plans OF the new organization
are on conservative basis. but the
directors feel preparations should
be made 10 increase production very
materially from month 10 month. az
the selling organization il already
far In advance OF the production de-
partment In the matter OF orders.
The officers OF the Consolidated
Car Co. are as follows: c. l.. Lewis,
PRESIDENT: NJ J. Hammers. vice
president; F. c. Hull, Toledo. vice
president: II p Hull. treasurer;
John j Gardiner. assistant treas
urer: u. r. Perry factory manager;
+ Il. Sangbush. sales and service
manager. The directors are: g. l.
Lewis, G. F. Hull. A. W Gardiner.
John Gardiner. u. l.. Gardiner. NJ
j. Hammers, Wade Mills and u. E.
Perry.