The New York herald., 1921-01-09
COLE OPTIMISTIC
CONCERNING 1924
Says Industry Will Equal or
Surpass Sales Volume
of Past Year.
by j. j. COLE,

President Cole Motor Car Company
Considering the many unusual cir
cumstances surrounding the busine ~
procedure OF the country during the past
twelve months the motor car industry.
by and large, may be said to have ex-
perienced a most gratifying and bene-
ficial year.
The levelling process which always
follows an era of extreme prosperity has
visited hardships on some. but in the
main the substantially of the industry
has been apparent and the soundness Of
its business judgment proven conclusive
ly by its ability to adapt itself to the
many variable conditions.
\ We have learned much in the last
twelve months. We are vastly better off
for the experience. on every hand we
see a conscientious effort to improve, to
take advantage of every possibility to
build upward to the most stable and de-
pendable footing, to leave no stone un-
turned in striving to give to the motoring
world the very best which 1t is possible
to build under normal conditions.
Consequently the year 1921 has ar
rived to find the motor car industry In
most hopeful frame of mind. The
average business for the new year gives
every promise of equalling. If not sur
passing. the volume for 1920.
For ourselves, we feel most happy
over the accomplishments OF our or
ganization last year. We have grown
to a point where more than $4,000, 600
is involved in the transaction of our af
fairs, and at all times we have enjoyed
cash reserve of considerably over
1000. 000-a sum in excess of our total
capitalization. Our gross receipts for
1920 were in the neighborhood Of
$50. 5000. and all of our operations
have gone forward without the necessity
of issuing any preferred stock or bonds.
AS for our production. we attained
our minimum programme for the year
without In any way burdening our deal
ers or distributors with any unusual re-
sponsibllites. Thus we find our entire
sales fabric intact and ready for any
effort that may be required of II during
the present year.
Where improvements In workmanship
or materials have been possible we have
shown no hesitancy TO put additional ex-
pense into the manufacture OF the 'av
Where II Is possible TO create advance
ments of any kind price has been the
last consideration.
We are persuaded that the automo-
bile buying public is convinced of the
logic of the idea that 1t is not how cheap
but how good a product Is that deter
mines whether or not It Is wise in
vestment
This is likewise the opinion that is
held by the men OF the entire industry;
Il Is the policy which will govern the
constructive efforts which will charac-
terize the return OF the automobile in
dustry. as we'll as every other business,
to a normal status.
The expense OF operating under the
high pressure Of the last two yeara-was
enormous. The difficulty OF obtaining
labor that was adequate for the task
imposed, as we'll as OF obtaining materi-
ais. involved expenditures which were
appalling.
The demand for cars, which increased
so markedly during the last twenty-four
months, VIII experience only an unap-
preciable decline The percentage OF
present owners of cars will not be low
cred very considerably. Competition
will be quite as keen In the material and
Ia Dor markets as in the retail and whole
sale markets OF the industry. Manufac-
turers must take advantage of every
possibility TO keep their costs down as
low as possible without sacrificing quail
ity. but II they would improve their
products whenever improvements are
possible present prices cannot be low
cred very appreclably.
Had the automobile industry as
whole been at all negligent OF It's re-
sponsibIlity to the ultimate buyer OF cars
and failed tol afford one hundred cents
OF value for every dollar invested with
IL the phenomenal rise Of this industry
vould NOT have been accumulated