The Maryville times. (Maryville, Tenn.) 1884-1944, 1916-07-13

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 was ready to retire. He
gave option on the Ford Motor Works to Mr.
Durant He offered to sell the whole plant for
$8,O0O,0OO a three-quarter interest for $6OO0-
900.
Mr. Durant tried to get some moneyed men
to join him in buying the Ford establishment They
told him "no" They pointed to the fact that the
bankers sending bulletins throughout the
country that the automobile business had to be dis
couraged. They didn't have any faith in it and
there was much financial unrest, and the whole
automobile business seemed so shaky that they were
inclined to shoe out of any bank any man who talk
ed automobile to them. On its present earnings
$250,0OO,000 is modest price for the Ford estab-
lishment.
One year before he bought the Cadillac, Mr..
Durant had option on it for $4,000, 900. 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 was wonderful bargain. The plant paid
for sef within two years after it acquired.
The men who have made money in automobiles
with few exceptions, have been permanent nves-
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
person connected with the automobile trade has
made list of 1872 men with whom he is acquainted
who have made from $4,000 to $6,000,0 900 out of
automobiles in the last ten twelve years by fol-
lowing Mr.. Durant without specializing to the ex-
tent Of penny The automobile companies that
have had real those that have been man.
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 practical men
who have been developed in the automobile trade
The combination of the Chevrolet and the
General Motors means no 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 5000 hands are en-
ployed With the broadening of the business this
force will be enlarged In the Chevrolet at present
$500 are employed. This force may double or
treble in the next few years. Every plant of the
Chevrolet and General Motors is animated by the
spirit of William c. Durant AS an economist and
made high mark in life if he had not made a
higher one great captain of men.
There seems 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-operatve
competition which has saved the industry from
pitfalls other great businesses have tumbled into
this would be a wise move. In these groups it is
inevitable that Mr. Durant will head one of the
largest. This is fitting, for has played a
larger part in the progress of the motor car
New York Commerce and Finance, January
26th, 1916