Arizona republican., 1921-03-20

to the smaller towns. In the first re- port of this character issued by the acceptance corporation, 6,37S persons gave their ages, which averaged 85.9 years for the group. During the second six months, 15,827 state their ages which averaged 35.1 years. No inn portant change Is evident.
 In the first period 7,276 persons were analysed of which 6,840 reported their occupations, in the second period 1s.- 570 were analysed of which 17,955 re- ported occupations. A noticeable change in the facts evidenced in the second period is the increase in the propor- tionate number of those individuals and firms in lines of business not rated by Dun's, that is farmers, insurance, min ing and real estate, the net effect of increase being largely among the farm CTS. Those of every occupation have bought more expensive cars but this is probably explained by the price raises which occurred in practically all lines during the time covered. The average car for the previous period was $1,- 04423-for the second period $1,126.61. The note in the previous period was s591. .S6, which was 56.2 per cent of the sale price of the car. The average note in the second period is $643.41, which is 57.1 per cent or the sale price of the car, indicating a net average increase in the proportion of the car financed of 9-10ths of 1 per cent. This seems a remarkably small increase in the relative size of the note, consider ing the increase of practically 10 per cent. in the value of the average car.
 The average income is less for the second period than for the first, except l1l connection with individuals and firms not rated by Dun's. The average in- come of all purchasers was slightly lower in the second period, being &266.12 as against $275.45 in the previous period. Conversely. cne average req estate equities reported are consider ably higher for the second period than for the first, being ss,606.37 agains' s5,53210.
 | In the geographical distribution by population by town, a very great l change has occurred. In the frs
 period over one-half of the time pay
 ment purchasers resided in cities oi
 from 100000 and up. In the second
 period, only one-third do so. In tho
 first period, only per cent resided il
 towns under 800, while in the second
 period 1215 per cent, did so, indicating l the growing use being made of thu facilities of the corporation of farmers
 In the second period, 25 per cent O
 the customers live in towns unde 2,500, where the 1910 United State
 census places 55.3 per cent of the tota population. In the first period, onl,
 14 per cent of the purchasers lived il
 towns under 2,500 population.
 The period during which the note analysed herewith were purchased in
 clude the late fall, which is the fina 1 cleanup of the retail season in mos
 sections, winter which sees a practica
 cessation of automobile purchasing i
 many sections, and early spring jus
 before the rush of business which char : acterizes the automobile industry dur
 ing April, May and June.
 Were the figures for the two period
 to be consolidated and averged, ther would be shown averages, which, ex cept in a few particulars. would b very close to those shown for each ( the two periods.
 In other words, the only definit f trends indicated by the second analyst . are in price of car, increased real estat = equities and more diversified geogra l phical distribution
 S The latter is due, of course. to tf = fact that the first six months perio Q produced business from those point l where were first reached by the col e poration's service. and these natural = were the large centers where the ma !, jor distributing organizations al l, situated