The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-01-06
FORD NOW
IS RICHEST
MAN IN U.S.
Jitney Maker Is Americas First
sBiIIion aire-Has OodIes
Of Cash.
BY ALLAN l.. BENSON.


Copyright, 1922, by International News
DETROIT, Jan. 6.-Henry Ford
begins the new year with the
greatest amount Of cash in bank
that any human being ever had.
A few years ago, Russell Sage,
with ten or fifteen millions in ready
cash, used to have that distinction.
Two days ago the General Motors
Company announced it had In
bank SAL 900, 600. g.. .. .-
Henry Ford's bank balance today Is
in excess Of 1921 10000. He himself
does not know within $5,000,00 or
$40 100000 of how much actual cash
he has at the moment. because he has
not taken the trouble to inquire of his
son, Edsel, the treasurer. since the
foregoing figures were given to him
few weeks ago.
$135, ,0O0, 900 and $l45, ,000, 900 Balance.
Our balance today" said Mr.. Ford,
''is probably between s135.000, 900 and
S145, ,000, 900, 900"
Henry Ford is a billionaire. In re-
ply to a question, he told me today
that he had no doubt that his hold
ings, based upon their earnings, could
he capitalized and sold for a billion
dollars.
Mr.. Ford gave me this information
because l asked for 1t. Neither his
mind nor his conversation runs to
money. I am sure money means less
TO him than to any other rich man
whom l ever knew.
MY property" he continued. "con-
,AVth nf
buildings, $1O0,0O0,000 worth of ma
chinery, and something more than
800 900 900 in cash. AS going
concern, ! have no doubt that these
assets could be capitalized and sold
for 81 ,0OO, 900, 900. But this $l2l ,0O0,-
900, or whatever 1t is that we have
in the bank, means nothing to me
except n tool with which to work.
l might liken II TO the flywheel on
an engine, the belt from a motor to
a machine, or to the wire that feeds
electricity to trolley car.
'Keeps Wheels Going"
"A big balance is required to keep
our wheels going. We pay wages
amounting to 100000 a day. and
our materials cost us $500 a day.
Our bank balance is therefore suffi-
cient to pay our operating expenses
:or only about 100 days.
IAN the money that comes to me
goes into new industries. I never
invest money in bonds or anything
Of the kind. What I want Is to make
this a better country for all Of us
20 live in.
.hance to go to work at Muscle Shoals
see the Government Is going to have
\ third bid for Muscle Shoals. BY
he way, I wonder If the politicians
IRE playing their old game OF compli.
ating a situation for the purpose OF
Hing a plan by delaying action upon
It?
Has Eye on Mississippi.
well, II they keep me out of
Muscle Shoals, ! will try to get a
.hance to put some dams on the
Mississippi. They cannot ba, me out
+ all the water power sit. in the
COUNTRY. I am going to g.t in a
lumber of places. 1t Is to the public
lterest that the wasted waterpower
{ this country should be saved
;nough waterpower is going to waste
heat, cook, and furnish light for
Il the people in the country.
But l don't want Muscle Shoals or
ny other big power site for the pur.
ose of owning II. II get Muscle
:hoals shall contrive a plan by
vhich 1t will eventually become the
ropcrty of the Government without
rst and serve the people forever
VIE bringing profit to the Govern.
,napt"