Evening star., 1924-07-21
FORD MAY SUPPORT
BIG FOREIGN LOAN
Part of s3oo,o0o,ooo in
Cash Ready for Use-Auto
King Studies Foreign Affairs.
BY j. L. ROYLE.
Special Dispatch to The Star,

Special Dispatch to The Star
NEW YORK, July 21.-Progress
made at the interallied conference in
London looking toward placing the
dawes plan for the payment of Ger
man reparationS in operation has
taken on new significance for the
business and financial interests of the
United States. This has come about
through well authenticated reports
OF the possibility that part of the
S5oooOO,OO0 cash surplus of the Ford
motor Company might be invested in
me International loan proposed under
the Dawes plan to put Europe back
on Its industrial feet.
Reports circulated here that the
foro money would go into the es-
tabllshment of a Ford bank in Wall
street, in which either Henry Ford
or ms son Edsel would be the dom
thhat,hs !.hniis factor are characterized as
DUNK IN dispatches received today
from reliable and we'll Informed
oanklng circles in Detroit in close
touch with the Ford investment pro-
Gram. p
Fords Study Dawes Plan.
IT is known. however. that the
Fords have been making a close in
Nestlga ton of the entire Dawes nIsn
and its provisions. and that thev hava
consulted the banking group headed
ny Percy Rockefeller, asking their
opinion of the Dawes plan. This in
vestsatlon, it is said in Detroit has
oeeh made with the idea of preparing
an analysis of the Dawes plan to be
published in the Dearborn Independ-
ent' "hlch has always been regarded
as the mouthpiece Of the Ford in
1t is known that Mr.. Ford long has
nad Keen interest in the develop
ments OF the situation in Germany.
Last Year his name was freouentlv
mentioned in connection with some of
the German political deyelopmentS
and, while it was clearly established
that he had nothing whatever to do
with the financing of any political
movements in that country, his
10 nave been extensive.
Ford Sales Bound Upward,
unprecedented heights in the last
year: The year 1928 was a record
breaker. in which the originator of
the fiVver" made and sold cars and
trucks AT record breaking speed Up
10 the first of this month he had sold
TINS year 1.h38,97S cars and trucks in
the United States alone. not counting
Canadian or Mexican sales or those
TO countries across the seas
This was an increase of l33o95
year. In June his sales reached 17O,-
l47 vehicles.
Only executives of the Ford Com
pany know exactly the margin of
pront on each car, but whatever its
size, it was sufficient to pile up a cash
surplus of over S200,0O0,000 early in
1928 and there is every indication
that this sum has increased by one
third since that time. There is no
question but that the sum has grown
so large as to be extremely hurdeD-
some. Banks will accept only a GER
tain amount subject to Immediate
withdrawal and payment of interest
on time accounts by the banks has
been held down by low money rates.
Always Follows World Affairs.
Possibilities of the financial power
which might be welded in this coun-
try through the deposit, withdra wa
or investment of such huge sums as
Mr.. Ford controls have been widely |
discussed. but there has never been !
any indication on the part of the De- |
troit manufacturer of a desire to eX- |
ercise any such influence. However,
he always has been deeply concerned
in world affairs.
Furthermore, it will be remembered
that Mr.. Ford, although counted as a
Democrat, has offered Endorsement
of the candidacy of Mr.. Coolidge.
Furthermore of the operation of the
Dawes plan which bears the name
and the imprint of the influence of
the Presidents running mate, could
scarcely be regarded as an unWel-
come campaign contribution by the
Republican managers.
In the meantime the Ford factories
are turning out 35 900 cars a week on
five-day schedule. Some slight
changes are being made in the car
and OUTPUT is expected to be moved
up again some time in August.