The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-07-27
AUTO MAKERS
WILL PRESENT
new MODELS
Increased Profits Shown;
Retail Sales Reported
on Decrease.
BIZ United Prcss

% ~ tHtttu I - SC
DETROIT, July 26.-With retail
sales of new and used automobiles
dropping sharply last week, the
statement of Henry Ford that he
favors complete elimination of the
tariff on automobiles was regarded
with intense interest by manufac-
turers who hope the foreign market
will be a future outlet for their sur
plus. Other manufacturers disagree
with Ford.
New model of Chrysler and Buick
cars are ready to make their APP
pearance during the otherwise dull
summer months, which find most
dealers amply stocked with cars,
both new and used Already on
the market are the new Oakland
brougham and the fordor model "a"
Fords.
Chrysler directors declared regu-
lar quarterly dividend of rs cents
share on common stock. Net
profit for the quarter ended June
30 was S9,257066, compared with
So, 838,173 for the first quarter end
ed March 81. In 1923 profits for
the second quarter were $6,988,013
Net profits for the first six months
of 1928 were S11,690,479. This year
they were $18,095,237.
Hudson Assets Increase
The Hudson company report for
the first half Of the year shows total
assets increased from $68, 258,084 to
$8I ,427,093
General Motors earnings for the
six months ended June 30 we're
$751; ,860,310, compared with $751;
267, 974 for the same period year
ago.
Development of the export field
by United States automobile manu-
facturers in the next three years is
dependent on the tariff restrictions
of foreign governments, Alvan Mac
Auley, president of the Packard Mo-
tor Car Company and president of
the National Automobile Chamber
of Commerce, declared in an inter
view today.
Despite present high duties i'm
posed by many foreign governments
on American manufactured cars, eX-
ports are increasing steadily and will
continue to rise unless prohibitive
import duties are assessed by govern
ments overanxious to develop their
own motor car industries or jealous
of the United States, MacAuley said.
THE American export trade of
$4,000 units last year will be in
creased to 100000 this year" Mac
Auley asserted, land even greater
increases will be made in the future
unless high tariffs make our cars too
expensive overseas"
MacAuley believes development of
the automotive industry abroad will
result in worldwide promotion of
peace, as we'll as material benefits.
Wants Duty Cut
1.-THE Civil war never would have
occurred if we had the same num-
Der of automobiles then that we
have now" he declared,
People who visit their neighbors,
like northern tourists, who now go
below the Mason and Dixon line,
learn too much about the other
fellow to fight.
South and Central Americans
should travel and visit neighboring
countries to avoid disputes such as
the Tacna AFRICA conflict between
Peru and Chile"
MacAuley repeated his suggestions
to the senate finance subcommittee
that the present United States i'm
port duty should be lowered from 25
per cent to a minimum of 10 per cent,
but is positive that 10 per cent is
safe minimum for the United
States, with countervailing duties as
high as any country.