El Paso herald. (El Paso, Tex.) 1901-1931, 1916-04-08
TEST CONTROL
Of THE c. NJ c.
Chevrolet Company Thought
to Have Chief Interest in
G.. M. at Present.

Detroit. Mich, April S.--Keen interest
and much lively comment are mann
tested among all just now in any way
interested in the automobile INDUSTRY
in the move Of disapproval Of the Ell
forts to usurp control Of the Genera
Motors company. which has just
reached stage OF protest in the action
OF a group of independent stockholders
to establish a protective voting trust
While ostensibly designed as an IN
dorsement of the present management
with a view to perDetuating its aa
ministration the effect will be to test
the claims of W. c. Durant and his as
sociates that General Motors controI
already has passed TO their hands as
leading interests in the Chevrolet Mo.
tor company Through the trading OF
Chevrolet for General Motors holdings
which has been stimulated by every
artifice known to adroit financlers our
ing recent months, a certain amount OF
stock actually has changed hands. More
is held by agreement. Such is the con-
dition of affairs however, that the eA-
act amount involved is difficult TO oe-
termine. ,.,
the receipt by holders Of General MO
tors preferred and common stock OF p
circular inviting them to signify their
approval Of the voting trust and eN.
pressing confidence in the preseh1
management. The continuation OF the
management, in the belief Of the sign
ers. "is especially essential during the
next few years" their view also pens
that those who have been largely me
creative influence of the great success
Of the company should be retained.
They add: I'VE do not believe that
control by the Chevrolet company
would result in any Improvement IN tne
management OF the company
February was the record month o.
the industry for shipments OF automo-
biles. the National Automobile cham
Der Of commerce reporting 2L5Oz car
loads as having been sent over Ine
rails. This compares with 1927 car
loads the corrected total for January,
which up to that time had been tne
largest single month i'm the history OF
the industry. In extremely close touch
with shipping conditions the uaIllC
department Of the chamber reports lldt
railroad operating conditions nave nol
improved and that the eastern con8es-
ton continues as the principal sOurce
Of troubles. shortage OF ordinary DoN
cars in the west and SOUTH due 10 the
eastern conditions, aggravates the AUTO
mobile freight car shortage by leadlne
the shippers and railroads 10 use TOT
other merchandise such special auto
mobile freight cars rs come over the
rails.
There are now about $4,000 automo-
bile cars in service, OF which lzOV nave
been added recently leaving about eeUV
new ones still on order, held up by the
inability or the makers TO secure neees-
sarv materials
FINAL transfer OF the assets OF the
Grant Motor company, Findlay. o. 70
the newly organized Grant Motor Car
corporation. has been accomplished ana
the Grant affairs now are IN the hanos
of the new 100000 company. All the
assets and liabilities of the OLD com
pany have been taken over. and the Or
ganization remains as before with D. A..
shaw at the head as president
Figures. just issued by the WHY'S
Overland company show the total earn
ines and income Of all COMPANIES for
the past year to be sft,20L25e which IS
reduced to S10.8TO.678 net by the de-
ductioh OF s33O.57S, interest on the
floating debt After deductinG all dlyi-
dend charges on the common and pre-
ferred stock and setting aside sl-OUVVOO
as reserve for contingencies. SLO6S,-
els has been added to the surplus,
nearly doubling that fund. which now
totals s14720.549, due to the most sue
cessful year the company has expert
euced