The New York herald., 1922-04-23
100000 DURANTS
PLANNED FOR 1923
In Strong Statement Of Com
pany's Position the Presi-
dent Outlines Plans.

Durant factories will build a mini
mum OF 100000 motor cars in 1928. ac-
cording 10 message issued to stock
holders by President w. c. Durant OF
Durant Motors. Inc.
The message accompanies a state
ment OF the finances of the corporation,
as OF March 81. 1922, which shows as
sets of $33.49s,401.S9. with no liabilities
other than the issue of capital stock.
1t shows 2S.557 shareholders in Durant
pany has been organized only fourteen
months.
Accompanying Mr.. Durant's letter is
a tabulation OF sixteen well known in
dustrial concerns. all listed on the New
York Stock Exchange. whose combined
common stockholders at the age OF IA
years do not reach the total number OF
shareholders in Durant companies.
No credit is taken in the list of assets
for good will, patents, &C., though both
these items are usually capitalized In
statements of this character. A number
OF the Durant patents are basic and
make possible several unusual features
in the Durant line of motor cars.
classed as participating contracts. S20,-
oSS.O00. which Mr.. Durant explains is
conservative estimate of the parent
company's share in the profits OF con-
tracts with its divisional companies
over a three year period. Other assets
are $3.02s,T47 cash on hand and in
banks, s4.225, ,9O2 invested in listed secu-
rites (market vaiue). and S2,594,1S0
invested in allied companies.
Mr.. Durant points out that the record
for Durant plants during the first six
months operating period-10,S14 cars
manufactured and shipped-is more
than have ever been produced by any
other concern in the history OF the In
dustry during the first six months oper-
ating period. He makes mention also
of a record shipment on December 20,
1921-500 automobiles to a Durant
dealer in California-and refers to 1t as
the largest shipment of automobiles ever
made and the largest transcontinental
shipment OF any single commodity on
record.
The message says that the company
was organized at time when industrial
activity was "at the lowest ebb in the
history OF the country" but no.witn-
standing this capital was secured to
make possible the acquisition and con-
troll Of five very complete assembly
plants, well equipped and located, hav-
ing a capacity Of 10000 automobiles .
year.
After outlining the company's plans to
build 1000 Durant cars in 1928. Mr..
Durant refers to the New Star Motor
Company of New York. Star Motor Com
pany of Michigan and the Star Motor
Company OF California. to produce In
the plants of your divisional companies
and under the same management min
imum OF 12O, 900 four cylinder five pas
senger cars to sell at s34S."
In concluding Mr.. Durant makes ref.
erence to the company's well balanced
organization. a splendid spirit of CO.
operation and loyalty. the confidence
and respect OF it's employees and deal
ers, with every one of its divisional COM
panies well balanced"
The large number of stockholders was
secured in spite OF the fact that Duran.
interests financed their various enter
prises Independently Of the usual
sources. with no underwriting and with
out the aid of the banks.