Automobiles

With record production, record sales, the U. S. automotive trade continued, last week, to head the list of prospering industries. From each of the four leading units came reports of progress, plans.

General Motors. Publication of the complete balance sheet of General Motors Corp. for the first six months of 1928 revealed a jump in assets of over $107,000,000, from $1,098,477,576 to $1,205,747,797. Surplus mounted from $187,819,083 to $262,320,716.

Ford. Stirred by rumors that he would shut down his plant, redesign his new model, Henry Ford boasted, last week: "Our daily production is now 3,500 increasing by several hundred a day. Our present goal is 10,000 daily. When we will reach it I don't know. What we are doing is building for a long run. I am entirely satisfied with the way things are going."

Chrysler-Dodge. In a dull market, common stock of the Chrysler Corp. and preference stock of Dodge Bros., Inc. assumed leadership, soared 10 points in a single session to new high levels for all time. Wall Street debated: Could the Chrysler-Dodge combine threaten General Motors supremacy? Commenting on results of the merger, E. F. Hutton & Co. noted: "Chrysler obtains a second dealer organization of 6,000. It thus becomes the only automobile company in a position to compete with General Motors in the latter's highly successful plan of a separate dealer organization for cars selling in different price groups.

"Chrysler obtains the third largest and one of the most profitable commercial car businesses in the world.

"Finally, additional plant capacity of at least 350,000 cars a year is secured at a time when Chrysler cannot build cars fast enough to meet demand."

Studebaker-Pierce Arrow. Stockholders of Pierce Arrow Motor Car Co. met, last week, to approve plans for an alignment (not a merger) with Studebaker Corp., bringing together companies with total assets of $200,000,000, making the fourth largest manufacturing unit in the industry. Studebaker will invest $2,000,000 in a reorganized Pierce Arrow company, call upon its selling organization to increase Pierce Arrow production to 15,000 cars yearly.