Arizona republican., 1922-04-30
.DURANT HAS BIC
SCHEDULE LINED
UP FOR FUTURE

0h ~ha -
NEW YORK, April 29-( -(Speciar--
Durant factories will build min
imum of 100000 motor cars in 1929,
according to a message issued to the
stockholders by President w. c. Du-
rant Of Durant Motors, Inc.
The message accompanies state
ment of the finances of the corpora
ton as of March 81. 1922. which is
being commented upon as one Of the
most remarkable records ever made
by an industrial concern. 1t shows
assets of $33, ,493, ,401.S9. with no la
bilities other than the issue of cap
ital stock It shows 2S,557 share
holders in Durant companies, though
the parent corporation has been or
ganized only IA months.
Local financial circles We're amazed
when the figures became public. be-
cause it was known that the Durant
interests were financing their va
rious enterprises independently Of the
usual sources, with no underwriting
and without the aid of the bank.
1t was understood that the first
offering of the stock had been made
in personal letters from Mr.. Durant
to his friends and that the entire is
sue had been over subscribed within
forty eight hours, but the widespread
distribution of the stock indicating
the extraordinary Durant following
has been the biggest surprise Of the
street in many a day
Accompanying Mr.. Durants letter
is a tabulation of is well known in
dustrial concerns all listed on the
New York stock exchange. whose
combined common stock holders at
the age of IA years do not reach the
total number of share holders in Du-
rant companies at the age of four
| teen months.
Another feature of the statement
\ of assets is that no credit has been
/ taken for the value of patents and
good will, an item that has been va
riousiy estimated in the millions par
| ticularly in view of the Durant "tu-
1 bular backbone" patent applied for,
! an exclusive Durant feature to
4 strengthen the chassis and make pos
sible an unusually accessible assem-
bly, of vital units.
Mr.. Durant says that the company
has manufactured and shipped TO-
814 cars up to March 81. 1922, more
than have ever been produced by any
y other concern in the history or the
i industry during the first six months
operating period.
He makes mention also of the train
load shipment of 500 automobiles TO
a. Durant California dealer on Dec.
20. 1921, the largest shipment of auto
mobiles ever made and the largest
1 transcontinental shipment of any SIN
| gle commodity on record.
/ He cites that the company was or.
ganized at a time when Industrial
activity was "at the lowest ebb in the
/ history of the country" but not WITH
/ standing this capital was secured 70
make possible the acquisition and the
control Of five very complete assem-
bly, plants. we'll equipped and located.
having a capacity of 10000 automo-
/ biles per annum.
After outlining the company's plan
| to build $4,000 Durant- cars i'm 1923,
/ Mr.. Durant refers to the new Star
car. the latest Durant creation. Your
company" he says, has entered INTO
/ contract with the Star Motor conf
/ pany of New York, the Star Motor
/ company OF Michigan and the Star
/ Motor company of California, to pro-
| duce in the plant of your divisional
/ companies and under the same man.
| agement a minimum of 10000 tour
cylinder cars to sell at $34S." This
/ brings the minimum productlon
/ scheduled for Durant plans in 1873
I TO 100000 cars.
The statement makes reference TO
what Mr.. Durant terms as the COM
pany's well balanced organization,
splendid spirit OF cooperation ana
1 loyalty. the confidence and respect
I Of its employees and dealers, with
every one of its divisional companies
well financec."
Included in the list Of assets is an
/ item of $50, 0,9Ss.000 classed as partlc :
/ ipating contracts which Mr.. Durant
L explains is a conservative estimate
| OF the parent company's shares in the
profits of contracts with its divisional
companies over a three year period.
/ Other assets are:
Cash on hand and in bank ss,O2S.-
TAT.
Invested in listed securities omar
ket value) $4223,902.
Invested in allied companies. $2.-
594,1So.
ALBANlA's SACRED MOUNTAIN
In the very center Albania towers
a great mountain reaching height
Of more than 1000 feet and covered
| with snow for the greater part or
the year, which the Albanians call
! Tomor.
A belief widely spread among the
Albanians has it that Tomor holds
in its flanks the tomb of Jupiter-al- +
/ though no one can quite establish
| the exact place of the tomb-and at
/ certain times of the year Jupiter
! brandishes his thunderbolts and
makes the mountain resound with
his imprecations.
The oath. per Baba Tomor" (by
! Father Tomor), is customary among
I Christians and Mussulmans alike (;
/ and Baba Tomor, the holy mountain
J of the AIbanians, is as much hon
ored in their country as was Olym-
pus. dwelling place of the king OF