The sun., 1918-10-31

WRIGHT-MARTIN NET
INCOME IS $54O,67S
.f IA a..
Entire Resources Of Aircraft
Corporation Enlisted in
War Work.
BUILDING MOTORS FOR US.
Plant at New Brunswick to Be
Enlarged to 100000
Factory.
BUILDING MOTORS FOR US.

The wright-Nartin Aircraft Corpora
OF s5to.67s for the thirteen months ended
June 30 last after allowing for n deficit
Of previous period OF Sl,205,1oS, ac-
cording to- the report of the company
made public yesterday. These net profits
resulted even after the deduction OF
s500.000 as an allowance for reserve for
war profits, income and other taxes. 49,,
George H Houston. president of the
corporation. In the annual report says
that during this period the entire re-
sources Of the company were used In the
manufacture Of Eispano- Suiza aeronaa-
teal motors for the United States Gov
eminent. Continuing he says: @
Production of Simplex automobiles
WAS discontinued about a year ago, and
the order for the French Government for
$50 Hispano-Suiza motors was completed
n short time later. Since July, 1917. or
ders have been received from the United
States Government for 1900 motors OF
the same general specifications to be
produced at the company's factory at
New Brunswick. N. j.. and for 5000 Of
the new 800 horsepower motors OF sim
liar design to be produced in another
factory prepared by the company for
this purpose at the expense Of the Gov
ernment."
Mr.. Houston Gays that including the
original French orders the company has
produced to date over 1000 Hispano-
6uixa motors. with spare parts. He says
that about 500 motors a month are be-
ang turned out at New Brunswick. and
that the ultimate volume of $50 a month
planned for this plant will probably be
reached in 1919.
Discussing the company's financial po-
sititn Mr.. Houston says:
The companys cash position has been
exceptionally strong at all times, as in
dicated by the June 80 balance sheet
When the company was called upon in
August Of this year to undertake a
much enlarged programme the Govern
ment agreed to advance additional work.
ing, capital up to an amount which. In
the opinion Of the companys officers. will
be SUFFICIENT TO carry on its operations
as at present planned. even when they
reacl the maximum volume. Less than
| one-half OF the advance has been used
UP to this time and the cash position of
the company at present is thoroughly
satisfactory
To obtain the output Of $50 and $50
horsepower motors required extensive
additions to the factory at New Bruns-
wick. which have been planned. When
eiAiD Woah ~ Uoihpictcu tuc company Will
have o plant investment of over $780,
600, consisting Of 100000 pre-war
plant and the remainder of increased
facilities provided for the performance
of these contracts. Mr.. Houston says
the contracts with the Government pro-
vide either special depreciation or liqui-
dalton Of such increased facilities, so
THAT when anal adjustments under the
contracts have been completed the COM
lpany will not be -burdened with an I'M
Idue plant investment.
\ To- simplify corporate structure the
following subsidiary companies will
probably be dissolved during the current
year: Simplex Automobile Company.
Wright Martin Aircraft Corporation of
California, General Aeronautic Company
/ of America and the Wright Flying Field,
Inc! Mr.. Houston says the company's
| officers are now engaged in the formula
ton and development of plans for the
Presumption of commercial business upon
Ia profitable and permanent basis after
pths war