The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-07-26
AUTO MAKERS
WILL PRESENT
new MODELS
Increased Profits Shown;
Retail Sales Reported
on Decrease.
BIZ United Press

BIZ United Press
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 Cllrysler and Buick
cars are ready to make their ap-
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
80 was S9,257,O66, compared with
S8,838,173 for the first quarter, end
ed March 81. In 1928 profits for
the second quarter were $6.988. 013.
Net profits for the first six months
OF 1928 were $11,69O, Ate. 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 sos, 258,084 to
$81 ,427 ,093.
General Motors earnings for the
six months ended June 80 were
$151, 860,310, compared with $751;
267 ,974 for the same period a 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
iroCy1c+1-inc or loo lnI1c
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. and 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.
"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 60
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"
Wants Duty Cut
MacAuley repeated his suggestions
to the senate finance subcommittee
that the present United States i'm
port duty should be lowered from Is
per cent to a minimum of 10 per cent
but is positive that 10 per cent is
q safe minimum for the United
States, with counteryailing duties as
high as any country.
America is logically the motor
manufacturer Of the world Mac
AuIey said. There is no large
home market in Europe to provide
for mass production economies at
present. Ultimately, Russia, China
Europe and South America will
have large home markets, but until
then the United States manufac-
turer with his mass production cut
ting costs. can supply better cars at
lower cost.