The Birmingham age-herald., 1924-03-16
ANNUAL REPORT
 WHITE MOTORS
Shows Best Year in History. Rapid Expansion Is
 VisuaIized

The annual report of The White Motor company fer 1923 shows. that the company experienced the best year in its long history, and further strength ened it's position as the leading manu- fncturer of high-grade trucks and busses- TS.
 The rapid expansion of the use of trucks and busses as. essential units in the nations transportation system is yisualised by the White report The company's gross sales for the year totaled $4S, ,S76y y6O6, an increase of $11,- 6O8, ,3SO, or 31 per cent, over the 1922 record, and materially exceeded the sales Oe any competitiSe producer.
 Whites 1923 net profits amounted to $6,964, ,665. Deducting $2O0O, ,O00 paid in dividends-which have not been interrupted since the company's or ganization-a balance of $4, ,964 .665 was carried to surplus, increasing this item to s730, slightly larger than in 1920. .s,e
 The cash petition of W.ite is shown to be exceptionally good. Notes pay able for borrowed money were reduced from $2OOO.OO in 1922 to $1 yOOO, 900 as of December 31, 1923. Cash stood at $2S47 .401, and notes and accounts receivable at $9,749,a2O The com pany continues to carry it's notes re- ceivable, none having been discount ed The. ratio of current assets to current liabilities is six to one
 Tke yalne of the cOmpany's finished trurkA. finished parts. materials in process, and raw materials and sur plies was placed at $14. 4.668.O33 at tke end of the year, an increase of $3.527 ,5S2 over the 1922 figure and this inventory puts the company in an advantageous position to meet the heavy demands of spring business.
 Additions of $6S2, sos were made to the cOmpany's capital account during the year, including the purchase of service station land. new machinery, and erection of new buildings at the great Cleveland plant which now covers 31 acres. With g direct factory branches and service stations in this country and Canada, and hundreds of dealers service stations, Whites worldwide organization has exception al service facilities.
 Leaders in the autOmOtive industry express the opinion that the commercial car field will show a continued growth, and that this is the belief of officials of White Motor is revealed by the announcement of the company's build ing program for the current year. New buildings for the parts department, the Cleveland repair department. the engi- neering and engineering research depart ments, and a receiving building with in- creased switch track facilities, are to be erected. This will release the space BOW occupied by these depart. ments for regular manufaeturinx uro- eeSseS.
 nual roll call of White fleets of ten or more trucks showed a gain of 15O names of new owners and $500 trucks during 1923, and the hundred thousand miles record comprised 2362 White trucks which had operated more than 100000 miles.
 White Motor is not interested di- rectly5 or indirectly in passenger Car production. the report states. The company left this field six years ago.
 Attention is called by the report to the progress in reasonable legislation relating to the motor bus and truck, and the better coordination of rail roads, electric lines, WateFways and motorized highwayS
 The number of costly delays in trans. portatiOn, and the ultimate cost of dis trlbution, which directly effects living expense, will inevitably be reduced by the development of standard practices in application, operation, and main teEanee of motor trucks and busSes, '' the report concludes