Indianapolis Times, Indianapolis, Marion County, 17 December 1948 — Page 31

7, 1948

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Studebaker Averages $78.26 on Each Sale

By EARL RICHERT Seripps-Howard Staff Writer WASTINGTON, Dec. 17—The Studebaker Corp. says it now makes an average profit of $78.26 on each auto it sells to dist¥butors. In 1940, it made $17.78 profit per car. . The South Bend, Ind., auto company this year is selling 230,000 autos as compared with 119, 000 in 1940—which, with the increased profit per car, accounts for the firm's rise in profits from

mated $18 million this year. Distinguished - looking H. 8. Vance, chairman and president of the Studebaker Corp., presented the congressional subcommittee studying corporation profits with the clearest statistics yet given showing why corporation profits have been rising by leaps and) bounds. To break even during the first nine months of this year, he said, his company had to make and sell 7788 autos or trucks a month. But company sales in that period were averaging 18,953 autos and trucks a month, leaving 11,165 profit-making units, Increased Volume

In the similar 1940 period, the

FRIDAY, DEC. 17, 1048 yy

$2.1 million in 1940 to an esti-|

company’s breakeven point was almost the same as now (7834 a! month), but the firm was sell-| ing only 9959 autos and trucks monthly, slightly more than half of the current rate, Mr. Vance said these figures| showed the company’s increased profits were due chiefly .to increased volum

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profits were too fo company in prewar years deliberately had sacrificed profit m Hoar) gin to improve its competitive position against the “big three,” General Motors, Ford and Chrysler.

His company, he said, is now producing 4! per cent of the auto industry’s total output and before the war it did only 2% per cent of the total. Long, Hard Pull Mr. Vance recalled the company had gome into receivership in March, 1933, and had a long, hard pull to come back. He said all profits earned until the end of 1942 were retained in the business or were to retire debt. He said an excess profits tax— such as many Democrats now favor restoring—would have curtailed, if not made impossible, Studebaker's post war growth. Since the beginning of 1945, Studebaker has made $26 million profits and plowed more than $20 million of it back into the business. On top of that, the firm has had to borrow $18 million to expand,

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THE INDIANAPOLIS TIMES PAGE nn

British Labor Government Reported Worried About Slashes In Marshall Plan Aid To England

nalizing ste {the disfuption of the two queens, taken on a Monday. The fire es In that case, it was the shoes on have no rallying point. Repre-| Mr. Lie has heen in falling 1 Loni bag will Mary pre | Elizabeth. It has been capes were covered with the Mon-|the feet of the strikers that drew sentatives have been cautiously health for about three years. It draft its program for the “next a mess. |day wash, {the “oBHs" and “aahs” of envy feeling out sentiment In high has. meant a curtailment of sofive years” at its whitstntide, " w «| Clothing starved Russians audi- from the Russians, American circles to see if some cial activities, After a few weeks conference in the spring. The Russian ovement with- ences gasped and exclaimed “Look Ns method can be found for the in Paris at the beginning > the Bottlenecks caused by the drew within ‘a week, its propa- at the abundance of clothing”! A “third force” composed of United States to extend suppott recent United Nations Sensi Bd o “Sir Stafford Cripps 1s telling hi trike ana|Sanda film based on a play that And the reaction was, of course, middle-of-the-roaders in China isto a program that would unity ady ice of doctors, she went cl friends New York bankers American shipping 's {was critical of the American|the opposite to that intended by. seeking to attract the sympathy the group and make it effective.'to New York where she now listened very attentively and the European fogs are preventing the Soviet propagandists. land attention of America. Y6u can knock right flat on its trying to recover her health. were “very flice” when he many Americans from getting Reason: An American newsreel It is recalled an earlier inci Members of this Sropp are de- face the -crack that the Trygve, One of thelr daughters wr answered their questions as to home for Christmas. Many per-|shot that was included in the dent when an American strike scribed as being as “numerous Lie's ‘are splitting. Mr. Lie's pri-' mained in Paris to serve as why the British Socialist Govern-! sons are without WestHis due to film to show New York slumg was. scene was shown in the newsreels. as ‘the sands.” " Trouble is they vate life wouldn't upset a bishop. Jde's hostess.

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