Evening star., 1919-04-27
Presidents Statement.


include the earnings during the year,
previous to the acquisition py the cor
poration. of several plants which were
purchased. President w. c. Durant
! said:
'"The combined profits of General
Motors and subsidiary companies be-
| fore deducting federal taxes for the
| twelve months ending December 81,
1918, and the proportion of profits
that accrued to the several companies
prior to the purchase of their assets
by the General Motors corporation,
amounted to $45.541,726.
The corporations pay roll for the
year amounted to lb2,500.oo0.
Concerning the work done by the
corporation on war products. q word
at this time may not be out Of place"
says the statement of the president.
"Of the e'twenty-three operating units,
| eighteen were engaged on govern
ment contracts. The gross value of
approximately $35, 100000. At the time
the armistice was signed the orders
and contracts in hand exceeded $780,
100000
1888 Liberty Engines.
I'm the production of liberty motors
for aircraft work, the Buick and
| Cadillac divisions made an excep-
tional record At the time the armis-
! sASS W as SASACO there were Or
ders for over 10000 liberty aircraft
| engines on the books
| During the year the corporation
acquired the following interests:
"AH the assets of Chevrolet Motor
Company, Delaware corporation (ex-
cept 100000 shares Of General Motors
corporation common stock), as of
May 2. 1918, paying therefor $28,268,-
400 par value of common stock
All OF the common capital stock
{ Gl,O0O,0o0 par value) of the James
vile Machine Company, GAINESVILLE,
Wis. on July l, 1918, paying therefor
s1.000,000 in cash.
/ "A controlling interest on July ],
1913 in the no par value common
stock of the Scripps-Booth corpora
change of securities on the basis of
one share Of General Motors common
stock for six shares of no par value
Scripps-Booth stock.
| "Al of the capital stock of Chev-
rolet Motor Company of Canada, Linn
tied, the Mclaughlin Carriage Com
pany. Limited, and the balance of the
capital stock of the Mclaughlin Motor
| Car Company. Limited, not already
owned by the corporation, as of No
vember 1, 1918. paying therefor $4,-
| 900,999 par value common stock and
$500, 900 in cash.
"All the assets Of United Motors cor
poration, subject to liabilities as of
! December 81, 1913. paying therefor
s29.S69,200 par value debenture stock.
s9,056. 400 par value common stock and
| 100000 in cash Of United Motors
stock owned by General Motors cor
poration; plus an amount in cash
| equal to the dividends on the deben-
ture and common stock subsequently
| to October i, 1918.
"All the preferred and common stock
! of Lancaster Steel Products Company
and $1,566,000 par value of General
Motors debenture stock as OF Septem-
Der 81. 1918. paying therefor $1.617.500
par value common stock and $500,000
par value debenture stock.
"All of the (387,100 par value) Har-
rison Radiator corporation preferred
stock as of December 81, 1918, pay
| ing therefor $387,100 par value de-
benture stock and $3S.710 in cash.
'In order to provide additional capi-
tai to meet the expansion program
adopted by your board, there was au
thorized an issue of $24.000.000 par
value of common capital stock. which
was sold without expense to the cor
poration. for s2s,s00,UO0, subject to
the right of the common stockholders
to subscribe therefor.
Bonus Plan Adopted.
"The corporation has adopted bo-
I nus plan under which stock of the
as a reward to its employees, including
3employes of subsidiary companies.
iwho have contributed to it's success
in a special degree, by their inven
tions, ability, industry, loyalty or ex-
fceptional service.
s'The outlook for the, coming year
is most promising. Since the signing
of the armistice and the subsequent
lliouidation of the war contracts.
which your corporation was engaged
in, the plants and facilities have been
lreconverted in an incredibly short
time to their regular lines of activity,
and as a result the manufacturing
operations are considerably advanced.
las is evidenced by the showing for
the first quarter of 1919; the number
of cars. trucks and tractors sold to
March 81, 1919. inclusive. being 82,-
456: the net profits before deductihg
federal taxes are estimated at up
wards of $2O,000,000.
.aThe number of stockholders Of the
CORPORATION is in excess of $4,000 at
srhe General Motors corporation is
to be congratulated upon the associa-
tion with the e. 1. dupont de Nemours
& Co. resulting from the acquisition
Of a large stock interest by that COM
many which insures financial stability
and the cooperation of the finest en-
gineering organization in the coun-
try"