The Washington herald., 1916-02-06
THE AUTO IN WASHINGTON
or 5b2
MOTOR GOSSIP
By asp GROGAN.

! Automobile financing set a new high
record during the last year, but indlcs-
tions are that new issues will be even
larger during 1915. In the last twelve
months large cash and rich stock divi-
dends have been. distributed in lavish
way And the rate at which the industry
Is working now points to even larger pay
ments to stockholders in the current
lyear.
The largest dividend in 1918, of course,
was that distributed by the Ford Motor
Company, which Increased its authorized
capital from 100000 to sJOoeo.Ooo. the
new stock going TO the holders of the
dian company added to this another rich
bundle of good-payin stock.
One OF the most startling develop
ments in automobile finance, however,
| was W c. Durants return to control of
the General Motors Company. Ousted
! from the mana cement in 1910 by the
| bankers who had supplied money to keep
| the company out of difficulty, Durant
| profted so much by the subsequent re-
covery and by the success OF q new auto
mobile concern which he formed that
! he was able at the right moment TO show
! In his own hands more than half Of the
! 16S, ,OCo shares of General Motors stock.
| The Hupp Motor Corporation. max
ers of the Hupmobile, financed their ex-
pansion by selling $3.50, 600 of new per
! cent preferred stock. The Maxwell, a
successor to the unfortunate United
States Motors Company, emerged from
year paid off IA IA per cent in back
dividends on the first preferred stock.
/ The Paige Detroit's eighteen shareholders
/ received a stock dividend of 100 per cent
! and cash dividends of 40 per cent during
I the year. and the stock was increased
from s250OO0 to s1,O0O.OOO.
The Auto Car Company. now making
! business trucks exclusively. Increased its
capital from 81 100000 to 100000. The Fl.
! II. Franklin Company increased its cap
/ ltal stock from sl5O,OOO to 81, 10000. The
! Studebaker Company, formerly engaged
In making carriSges, wagons and harness,
/ hut now turning out cars with equal
success sold s2,O6s,O0o of new common
stock to its shareholders at 110
The WHY'S Overland Company Increased
its capital to $75,C0aO0I one-third of its
preferred stock The Willys-Overland,
Ltd, of Canada, bought the Russell
/ Motor Car Company and issued Sc, ,Oo0 600
of stock. The Saxon Company, makers
of a light. low-priced car. issued part of
! s6.OO0,oOO of new stock through a syndi-
! cate.
! The Peerless Truck and Motor Com
pany, a consolidation. issued $40, ,O0O. 900 of
stocks and $4,000 900 of notes 1t has
sold a great many cars to the allies. The
Continental Motor Company, of Detroit,
manufacturers of a popular engine, in
creased its stock from 100000 to 81 800
/ 900 in order to pay a stock dividend OF
100 per cent to holders of the original
small stock issue.
The Chandler, of Cleveland, capital
lied at s225,O00 of common and 5000, 900 OF
preferred, after paying dividends of 1VC
per cent on the common, increased its
capital to 5000 900, and sold part OF the
| new issue at s..
Stock of the White Company, maker
| of trucks, was held by members of the
| White family until few months ago. II
was increased 70 sS,5G0,ro0. and recently to
being brought out at that figure by New
| York bankers.
| General Motors, after paying off s23,
| coo, 600 In bankers notes out of earnings
listed S5,00o,OO0 Of preferred and SIG. .5o6,
900 of common in place of the voting
| trust certificates. The Haynes afte,
paying a per cent dividend for the yeal
ended June 30, 1915. paid another 2 pei
cent for July, J per cent for August anc
100 per cent in stock, increasing the com
mon for that purpose by s1,20o000
! The REQ increa sed its stock from $1,000
900 to $4,000. coo, paying a stock dividend
of 100 per cent and large cash dividends
4 The Cole increased Its capital from 81. .oco
600 to 100000. the Entz from s.. 0oo, 900 t.
ss, 10000 and the Baker r. and l.. Com
pany from s2,0O0,ooO to 100000. The Bris
coe issued ss.O0O.OCo of stock.