Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-10-31
Pioneer Automobile Builder
Draws No Salary as Head
of Great Company = Not
Even Expense Account
BY EDWARD THIERRY

NEW YORK.-WOuld you take
salary of 100000 to $150,000 a year
if you could get it?
Here is one man whose reply is
"Nov'
He is w. C. Durant, pioneer au
tomobile builder, who had just sky
rocketed into the public eye by en-
tering the 1ow-priced car field on
The same plane with Henry Ford.
The startling fact that Durant re.
fuses to take salary, now known
for the first time, is one thing that
he will not talk about. 1t can be
stated, however, that he not onl.'
has not drawn a salary during the
years that he has been a leading
executive in the automobile ind
try-but he has never turned in an
expense account.
Durant's proudest achievement is
that i'll less than two years he has
built up a group of motor compa-
MES that have 105,181 common
stockholders. Only two corpora
tions exceed this number, the Amer
! :can Telephone and Telegraph con-
rany and the Pennsylv~ railroad
company.
Fights Wall Street
"That is the sort Of public owner
ship of Industries that this country
needs" said Durant. "Workers who
make and use product should own
the producing industry. 1t is the
greatest possible educational fac
tor, the only sure cure for labor ills
and social troubles.
'The day of sharp distinction be
tween the so-called capitalistic and
working classes is passing. The
wage earner's greatest weapon is
the ownership of stock in industries;
it takes the danger out of capital
ism and spreads financial indeper-
dence among the masses of people"
Durant admitted thai in some re.
spects he holds the same views az
Henry Ford. The parallel is not II
wide distribution of stock owner
ship, for the Ford industries ale
owned entirely within the Ford fam
lily, but in a common war against
Wall street.
1.-THE control Of industry by q
small financial group also is pass
. ing he said. 1.-THE fact that with
in less than two years more than
100000 persons have supplied mil
lions of financial backing for our
new motor companies proves that
industry can be Independent of Wal
street."
Durant says he has not declared
war on Henry Ford in the low-price6
automobile field.
Says Auto Field Is Linitless
eve put the price Of our new car
at the Ford level because we found
it could be DONE" he said. "But ]
have no thought of a price war. II
wouldn't disturb me if Ford pro
duced car selling as cheaply as
sewing machines. I will never GU
into his business. He will sell more
and more year by year-and so vii
We.
1.-THE automobile field is so limit
less than there is room for both
even though we will build ,00(
low-priced cars this coming year.
''The one problem that must BIZ
solved is that of traffic. Highways
are being built exactly parallel tt
railroad development; two, three
and four-road systems are already
beginning, and I see in the future {
network of highways with separat.
sections for passenger cars arc
trucks, each WITH one-way divisions
THUS America can absorb many
times the 100000 machines tina
are now in use. The greater prob
lem is in the cities. Perhaps dou
hle-deck streets will be the soiu
ton"
Durant, following up this subject
has just written to the merchants
association, of New York, urging
the appointment of a commission t.
study the traffic problem. He warn:
merchants everywhere that unless {
solution is found there will be sucf
rapid growth of suburban and com
munity center stores that dowr.
town groups of mercantile shop!
will not be able to survive compe
| titiOO killed Inv tro ffio concession