Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-30
AUTOMOBILE TRADE
GAIN IS REPORTED.
Sudden Rise in Stock and
i Commodity Prices Aids
9 Motor Sales.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, June 3o.-While 1t Is
still too early to trace the real effect on
business Of the improved sentiment
here and abroad since the announce
ment of President doover,s war debt
proposal nevertheless 1t Is interesting
to hear from automobile manufacturers
that the sudden rise in the stock ana
commodity markets has revived the de.
mand for low priced automobiles ana
for accessories.
Many people who had given up plans
for Summer touring are now tnquiring
tor new cars, according to dealers. There
is also a more optimistic attitude IN
the banks toward automobile dealers,
who are now able to arrange lines OF
credit denied to them for some time.
The result of the change may be that
there will be a greater number OF new
models in the Fall than anticipated.
Those companies which supply the au-
tomobile manufacturers with materials
are expecting larger orders.
In the automobile world there Is con-
siderable interest in the race between
General Motors and Ford. The new pas
senger car registration figures show that
in the first four months Of this year
Ford registrations were 218,708. or 80
per cent of the 727, 492 total. General
Motors registrations for the same period
were 295, 024, or 40 per cent of the total
Other makes represented 80 per cent OF
the total.
Reports Business Gain.
In the first four months Of 1880 Ford
registrations were 428,242, or 40 per
cent of the total, which was 1.047.626.
General Motors registrations were 362,-
800, or "a per cent Of the total, leaving
26 per cent to other manufacturers.
These figures are only for passenger
ears.
H. j. Klinger, vice president and
general sales manager OF the Chew
rolet Motor Co., declares that his COM
pany is doing more business along the
North Atlantic seaboard than ever be-
fore. He says that area is the bright
est spot in the country right now,
adding that. while 1t was the first to
feel the effects Of the stock market
slump, 1t is the first 10 recover. Mr..
show that the current month Is ahead
of June, 1880. and that he expects
every remaining month this year to
show a gain over the corresponding
month of $780,
That American automobile manufac-
turers may expect plenty OF COMPETE
ton in foreign markets from foreign
connection it is interesting to note
that an important concentration in
the motor industry has just been put
through in CZechoslovakfa, where a
new corporation has been organized
along the lines of General Motors.
Three of the leading automobile con-
Germs in Czechoslovakia. the Skoda
Works, the Ceskomoravska- kolben-
Danek Co. and the Tatra Works, have
formed a common organization for
the manufacture and sales OF the
"Skoda,' "Praga" and "Tatra" cars.
The new arrangement will result in
a naturalization of output and big
saving of production costs and the
elimination of home competition. The
new organization will take the form OF
a joint stock company with probably
some 100 million crowns capital.
Merger Reported Near.
The merger Of Sears-Roebuck & Co.
and MONTGOMERY Ward g. Co.. the two
most important mail order houses in
this country, so long discussed, Is be-
lieved to be nearer today than ever. 1t
is understood that the merger has the
tentative approval of the Federal Trade
Commission. There are several other
large mail order houses in competition
with the two companies mentioned, so
that 1t Is believed that such a merger
could not rightfully be called mo-
nopoly.
Bank Directors.
The surprising ignorance Of the OBJ
legations and responsibilities of their
position shown by certain bank direc-
tors in recent court trials has created
an indignant demand from the public
that banks select men to direct them
who know their jobs and have ability.
Some critics have gone so far as to
suggest that bank directors be paid SAL
aries, as they are in Germany. Here a
bank director gets a fee at each meet
ing ranging from $40 to $50. In Ger
many there are professional bank d.
rectors, who are hired and fired when
they fall down on the job.
The average bank director on the
board of an American bank knows very
little about the running of a bank. He
attends the meetings and o. KS any
thing suggested by the officers of the
bank. He never expects to have to DO
any work for the bank. American bank
directors are selected because they are
prominent IN some other industry or
because they are prominent socially.
This subject was brought up at the
convention Of the New York State
Bankers Association last week.
Oil Shipments.
It cannot be said that the American
oil industry is at all alarmed over re-
ports that Russian oil Is being shipped
to Detroit to be dumped at -unfavorable
prices.
Important oil men yesterday refused
to believe that the reds were shipping
oil here and added that, If the stories
are true, it could only be a gesture to
brighten the American people or an at
tempt to feel out the American market.
The oil is supposed TO be on its way
here in tankers, and is expected to ar
rive today or tomorrow.
A careful check-up failed to disclose
that there had been any charters of oil
tankers from the Black Sea to Montreal.
It is not believed that the Russians
have Oil tankers Of their own. There
was an inquiry in shipping circles from
England as to the rates from the Black
Sea to Montreal, but nothing more.
Detroit Is the last place the Russians
should attempt to land oil if they. are
going to figure expenses. 1t could be
landed much more cheaply in New York
or Philadelphia. An ocean-going tanker
could not get through the Lachine
Canal on It's way to Montreal. II the
oil came to New York, it could be loaded
on barges to be reshipped to Detroit, or
IT, could be reshipped on tank cars.
This is very expensive transport.
The American company supposed to
be importing the Russian oil is the
sunny Service Oil Co. 1t is supposed
to receive 100000 barrels, SOC, 900 gal
lons-of Sovist gasoline from Baku
The company is also supposed to be ne.
gotiating for an additional Shipment
from Russia of 100000 barrels, or 3d.
100000 gallons.
Now the Sunny Service Oil Co. has
only one balk plant and eight service