Ford Co. Statement

The statement of the Ford Motor Co. for the year ending June 30,1923, reflects a twelve-month of great prosperity. The Company's total assets are now $597,339,236 compared with $409,820,133 a year ago; its cash is (including good-will and trade marks) $230,000,000 against $145,000,000 last year; its surplus has grown from $289,000,000 to $414,000,000. In addition, a reserve of $62,000,000 has been set up for plant depreciation.

The cash position of the Company challenges comparison with any company in the world on the basis of the latest statements; but how much good-will and trade marks are valued at, and how large a part of this cash item they constitute, cannot be determined.

For all the Company's huge gross earnings of $160,000,000 during the last year, they fell below the gross of $190,000,000 established the preceding year; profits also fell some $10,000,000 below those of last year. This decrease is mainly due to the reduction upon the profit obtained per car, which dropped from $90 a year ago to $43 this year. During the latest period, the concern produced 1,833,812 cars, trucks, tractors and Lincolns, compared with a total of 1,080,000 vehicles the preceding year.