The Maryville times. (Maryville, Tenn.) 1884-1944, 1916-06-29

Ford had not developed the Ford car then to what
it is today. He thought he had enough money. He
was none too WELL He WIS ready to retire. He
gave an option on the Fo | Motor Works to Mr..
Durant. He offered to sell the whole plant for
$8OOOO 900 or a three-quarter interest for Sc O00-
900.
Mr.. Durant tried to get some moneyed men
to join him in buying the Ford establishment. They
told him mo" They pointed to the fact that the
bankers were sending bulletins throughout the
country that the automobile business had to be dis
couraged They didn't have any faith in it and
there much financial unrest, and the whole
automobile business seemed so shaky that they
inclined to shoe out of any bank any who talk
ed automobile to them. On its present earnings
$250,000000 is a modest price for the Ford estab-
lishment
One year before he bought the Cadillac, Mr..
Durant had option on it for $2,500,000. He
couldn't swing the deal at the time, and when he
did buy the company he paid $4,750,000 for it.
At that it a wonderful bargain. The plant paid
for iself within two years after it acquired.
The men who have made money in automobiles
with few exceptions, have been permanent inves-
tors, not promoters, spectators traders. They
have selected their companies with great care and
regardless of the fluctuations of the market have
put their stock certificates away in the strong box
and in he final analysis reaped large fortunes. One
person connected with the automobile trade has
made list of 1872 men with whom he is acquainted
who have made from 100000 to $6,00O,000 out of
automobiles in the last ten twelve years by fol-
lowing Mr.. Durant without specializing to the
tent of penny. The automobile companies that
have had real success those that have been
aged by the men who manufacturers distribu-
tors, statesmen. Therein lies much of the stability
and sanity of the industry. No other young indus
try has been handled with such efficiency, economy
and intelligence the automobile business and the
explanation lies in the fact that it has been held al
most exclusively in the control of practicala men
who have been developed in the automobile trade.
The combination of the Chevrolet and the
General Motors change in operating for
ces. The great business of the General Motors has
been organized a high plane of excellence. In
the General Motors factories $4,000 hands are en-
poyed. With the broadening of the business this
force will be enlarged In the Chevrolet at present
treble in the next few years. Every plant of the
spirit of William c. Durant. AS an economist and
efficiency engineer William c. Durant might have
made a high mark in life if he had not made a
higher one a great captain of men.
There to be drift toward assembling
the automobile plants of America in four or five
groups. Highly organized, admirably managed and
operating under that fine system of "co-operative
which has saved the industry from
pitfalls other great businesses have tumbled into
this would be wise move. In these groups it is
inevitable that Mr.. Durant will head one of the
largest. This is fitting, for man has played a
larger part in the progress of the motor car.
New York Commerce and Finance, January
goth, 1916.