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About The Omaha morning bee. (Omaha [Neb.]) 1922-1927 | View Entire Issue (March 16, 1924)
Popular Issue of Studebaker Stock Planned Proposal to Put Out $40 a Share Common to Attract Purchaser of Small Means. South Bend. Ind., March 15.—Di rectors of the Studebaker corporation have called a special meeting of the stockholders April 1 to approve an In crease of capital from $76,000,000 stock of $100 par to 2,500,000 shares, no par, and to distribute two and one half shares for each present share. The call for the meeting followed a special session of the directorate In South Bend. The stockholders will meet at Jersey City, N. J. It Is pro posed to place the new stock on a $40 basis. Immediately after the close of the meeting of the directors A. R. Er skine, president of the Studebaker corporation, Issued the following statement: *'A special meeting of the .stock holders of the Studebaker corporation has been called at Jersey City, N. J., April 1, by the directors who held a special meeting at South Bend, to ap prove their recommendation that the charter of the corporation be amended to change the character of the out standing common stock from $100 par value to $40 no par value, which would mean that present common stockholders would receive two and one-half shares of new stock for each share of old stock now outstanding. .*■’ 2,500,000 Shares Proposed. "It Is Intended to Increase the au thorized common capital stock to 2,500,000 shares, although only 1,875, 000 shares will be needed to retire the present outstanding common stock of TBf.000 shares. The remaining 625,000 shares of new stock will not be issued at present. "The object In reducing the stock to • $40 basis Is to permit broader Investment In It by Studebaker em ployes, dealers and car owners, and generally to give It a wider distribu tion. "Under tho present 10 per cent common dividend rate, each new share of common stock will receive divi dends of $1 quarterly, or $4 per an jium. $100 Shares Hard to Sell. "Stockholders are aware of diffi culties attendant on a wide distribu tion of high priced common stocks selling in the market above $100 a share. “While Studebaker common stock Is fairly well distributed the directors feel that a much wider distribution among employes, dealers, car owners and investors generally will follow the splitting up of the stock and this feel ing is responsible for the plan which they now recommend to the stock holders." Flint Production Stepped Up. The Flint Motor company reports that the combined production of the two big plants has been stepped up ** over one-third In volume since Decem ber 1. Overland Officials Here Monday John N. Wlllys, president, and I< G. Peed, general sales manager of the Wlllys-Overland, Inc., Toledo, O., will arrive In Omaha Monday to at tend the dealers’ meeting and lunch eon at the Hotel Fontenelle at noon It is expected that there will be 200 dealers of the Omaha branch from Nebraska anad western Iowa, In at tendance at this luncheon. The Overland factory at Toledo Is running at practically full capacity and went into’the beginning of March with a large number of unfilled or ders on hand. Chase Bandits With Fords One of Hte armored Ford ears used as bandit eliasers by the Philadelphia police department and (insert) Gen. Sniedley I). Butler, commissioner of public safety. Armored Ford cars as bandit mas ers are the latest police innovation. Gen. Smedley D. Butler, Philadel phia's commissioner of public safety, Is the man who Introduced them. Before he took office a few weeks hack, the Philadelphia city council voted General Butler $5,000 with which to purchase an automobile for his personal use. But, when salesmen for high-priced cars appeared and tried to ■ Interest him, he made It plain that he Intend ed to spend the money in purchasing small, light cars for use as bandit chasers by the police department. Philadelphia police have six of these armored Ford cars and tinder ueneral HUtier s plan ms numoer win shortly be augmented until there will be 90 auch bandit chasers in service. The entire shell of the body is lined with 1-8-inch special steel and the space between the nrmor plating and the outside of the car is packed with loose cotton and coarse hair to retard the velocity of bullets. Armor plate also covers the cowl and runs up as high as the lower portion of the wind shield. The upper portion is in two sections of bullet proof glass and wind-wings have been provided on gither side, these also of bullet proof g!as%. The Ford engines are specially equipped to afford increased speed. Guaranteed Upkeep. Labor and Parte for 1 Year S25 CHAMPION Now Reduced to j.o.h.^Toledo Woriel's Lowest Priced Closed Car with Doors Front and Rear. ^ Order Now for Earliest Possible Delivery! % t W1LLYS-OVERLAND, Inc. 2S62 Farnom St. Phone HA rney 0353 Factory Branch—Open Eveninga CITY DEALERS Folaom Auto Co. Wickland Motor Co. Opocenaky Broa. S915 Military Ave. 2918 Sherman Ave. 5134 South 24th St. Council Bluffa Overland Co. , 602 Eaat Broadway •MOST CAR IN THE WORLD FOR THE MONEY" In on# test to show acceleration and power developed for hill climbing. ■ mile wa* covered In 1 minute and 61 second# from a standing start. On s country road, ths car attained a speed of mors than 60 miles an hour and In a city street test covered 2.626 feet at a speed of approximately TO miles an hour. New Dort Coupe Sells for $1,385 4 ' — " Accommodations Provided for Five Persons—3 Doors Add to Convenience. Dort has Just brought out a new low priced utility coupe -which sells for 61,383 at factory. This new car is smart looking and is aa sturdily built a3 the other members of the Dort family. It is an automobile that will make a great appeal to the farmer and business man as well as to those who desire a beautiful car for pleasure driving. This coupe is roomy to the last degree. It accommodates five per sons comfortably and there is ample space to store produce or salesmen's material. It has three doors instead of two. * - There Is a spacious trunk in the rear and other equipment includes tire carrier Irons and straps, rain visor, cowl ventilator, drum type head lamps, leather upholstery, artillery type wheels, gasoline gauge on dash, nickeled radiator and cord tires. The body Is the regular Dort coupe type with ttle exception that It Is painted entirely black Instead of blue and black. Hudson Dealer Finds Big Demand Spring Business Starts With Rush—Name Coach Is Officially Recognized. "This Is the season of the year,'* de clares \V. H. Wetherell of the Omaha Hudson Essex company, Hudson Essex distributor, "for robins, light overcoats and the spring rush for motor ca^s. "In my entire experience as a dis tributor, I never before have liad so many unfilled order* for cars. This is despite the fact that we have done a wonderful business right through the winter, so that our orders now are by no means an accumulation. "It Is the coach—the Hudson and Essex coach—which lias brought this alvout. The coach Is right now the biggest selling factor In the automo bile buslnea*. The public wants an enclosed.car at a moderate price. "The name coach Is now official. For a long time some persons Insisted that there was no such thing as a coach: It was simply a sort of sedan. Now the Society of Automobile Engi neers has recognized the coach, and has defined it as Just the sort of l>ody which Hudson Essex originated and which now makes up 75 per cent, or more of Hudson-Essex business." Chrysler Six Output Now 100 Cars a Day J. E. Fields, general sales manager of the Chrysler Motor corporation, Detroit, has announced that produc tion on the Chrysler six has reached more than 100 cars a day. The Chrysler was not Introduced to the public until early In January. Production then went steadily ahead and waa well under way by the latter part of that month. Since then ttie Chrysler plant each week has met the schedules for Chrysler manufac ture, which were laid out more than six months ago. Sales reports from all sections of the country and from virtually every automobile show which has been held in the United States indicate that even the present high sihedulea at tained in building tne Chrysler six will not satisfy buying demand, and Mr. Fields believes he ia making a conservative statement when he sajs that the car is certain to be oversold throughout 1924. Council Minutes Found. Denver. March 15.—Swept away tn a flood and missing since 18*2, the minute book of the Denver city coun cil, containing official minutes of the cily for 1860 and 1861, has been dis covered hy a book dealer In New York and returned to the city's archives. An excerpt of notes of a meeting of the city council on October 8. 1860, when Denver had a population of ap proximately 2.000, contains a petition which roads: "To the Legislative Council of the City of Denver: "We, the merchants doing business on Wake street, petition your honor able body to prohibit from the streets and sidewalks all gambling and selling of llrjuor." Olds Sells Accessories. Certified accessories mad# especial ly to fit the new Oldsmoblla six are l-elng supplied all authorized Oldsmo blle dealers by the Olds motor works. The accessories are sold at a flat rate net pi Ice, w hich Includes all attach rnents This Innovation Is In line with the recently announced plan of the Olds motor works to supply all repair parts, freight and war tax free, at a standard price anywhere In the country. Used Car Sale. The u*e«l car an I* that haw hern conducted l>v the J. If. Hanaen Cadil lac company In Hloux City han hern very nucceasful, according to Mr llnnftrn, who han Junt returned after -pending the laat week in Hinux City. The sale han been a nucrena in npite ;>f the fact that the went her han been linmurnglng to folk who are waiting uni 11 later In the apring to buy. Production Is Increased. An Increase of nearly 72 per cent In Apperson miles has followed the In troduction of thn lu-w Appereon six i')'Under car and the adoption of s new cooperatives sates policy. As a result Apperson Bros.' factory has «on# on an Increased production basis to keep pace with general eulcs, an nouneed President Don C. McCord. Willys-Knight j r Doubles Sales Production of 50,000 Cars in 1923 Raises the Total to 129.837. With a production of more than 50.000 Willy* Knight motor cara dur ing the laat it months Wlllys-Over iand brought up Its total to 129,837, which Is practically as great as the entire Knight-motored production of the rest of the world. Rut during 1924 Wlllys-Overland plans to build more than 100,000 Willys-Knight cars. Preparations are progressing apace for the erection of new buildings, both at the Toledo and Pontiac plants, whereby the facilities for its production will lie more than doubled. One and one-half million dollars will he spent before spring in new plant buildings and equipment at the Wilson Foundry company of Pontiac, Mich , where Willys Knight motors are built. This year the Willys Knight cele brates its ninth birthday. But back of the impetus given its production is the story of the faith of two men and how Willys-Knight motor cars have carried that faith to the public. Some nine years ago John N. Willys met Charles Y. Knight, inventor of the Knight motor, aboard a steamer bound for the near east. Knight had seen his motor accepted by the Daim ler Motor company of England; had seen It meet every test known to the automotive engineers of the Royal Automobile club of Great Britain. 1 et he wished to see the motor in production In his own country— America. John N. Willys, without the knowl edge of Knight, went to England and made a secret crosscountry driving test of the Daimler car. He studied the motor and was convinced that its design, which eliminated the clashing valve parts of the poppet-valve motor, would do away with the most trou bles of the motorist. And so he took the franchlnse for the use of the Knight principles and upon his return to America set his engineers to build ing a new motor, to be known as the Willys-Knight motor. The first Willys Knight cars ap peared in 1915. In that year acme 5.000 were produced. With the end of 1922 Mr. Willys. saw his best production records more than doubled and now at the close of .923 he has seen a total production of more than 50,000 Willys-Knight cars. Test Brakes on Tee. ‘‘Four wheel brakes, tested from practically every angle by A. E. Clark, distributor of Bulck cars, were given their most severe trial at Sea side park, when several of the 1924 model Buicks were driven on the ice pond and after attaining varying speeds the brakes were suddenly ap plied." says the Times of Bridgeport, Conn. "The test was successful. At 25 miles per hour a car stopped on the slippery ice within a short dls lance. At 38 miles per hour a stop v. as made at a comparatively shorter distance." Visitor* Insprrt Rco. Forty-three elates In the union and IS foreign countries were represented •n the list of people who visited the ■hops of the Reo Motor Car company In Lansing during the last year. Realdenta of flva continent* were con ducted through the varlou* depart ment* In which Heo part* are made and along the a**embly line* where the varlou* unit* are coordinated In the paaaenger car* and apeed wagon* which make up the Reo line. _-A-— “Stronphcart” Own» Buick. "fHn»r*hMrt,M tha QtrmtB polfca flog who conionda for hoBOfi aa tha moat popular actor In tha •movtaa,” tjw na, according to tha racorda, a b#w Buick ail touring car. ■1' ■ **"am * A New 4-Passenber Coupe ♦ This car is Dodge Brothers response v to a definite demand— • A high grade coupe of moderate weight and size that will seat four adult passengers in genuine comfort. The body is an admirable example of fine coach building. Low, graceful, smartly upholstered and attractively finished in Dodge Brothers blue, it reflects dignity and distinction in every line. Above all, the 4-passenger coupe is characteristically a Dodge Brothers product. It possesses all the attri butes of construction and low-cost service for which more than a million Dod ge Brothers Motor Cars are f avor ably known throughout the world. $137S f. o. b. Detroit; $1530 delivered O’BRIEN-DAVIS AUTO CO. . 28th and Harney Sti. HA rney 0123 Sale* and Service Branche* at Council Bluff*, la. Deniion, la. I “Even better than □y fomer Essex" And Costs *170 Loss Built by Hudson Under Hudson Patents Advantages of both Hudson and the former Essex are combined in the new Essex Coach. And with finer body and a 6-cylinder motor, built on Hudson patents, it*' cost is >170 less than Essex closed car comforts ever sold for. It continues the famous Essex quali ties of performance, economy and , reliability. It adds a smoothness of flowing power heretofore exclusive to Hudson. Both cars are alike in all details that count for long satisfac tory service at low operating cost. Steering is like guiding a bicycle* Gears shift easily. Care of the car calls for little more thah keeping it lubricated. Its economy includes not only ex ceptional gas, oil and tire mileage, but a policy of minimum mainte nance cost with parts prices that will astonish you. Tom ring MtrJrl SS50, freight mnj fn mmtrm ESSEX COACH *975 /V»J»Al mmj Tmn Ka*m I “Steers as Easy as a Bicycle” I bar* driven the new Sii Eaaes Coach fourteen hundred miler in four different etatee near all kind* of read*, many ml them being dolour* aad astremelr bad. There wai never the (lighted auggedion ml inf trouble with the car aad it withdeod the nod aeeere tecta. The extreme eaae with which the car mar be guided, and it* eaar ridiag qualitiea make it ideal for long trip* and fee aaa aa a ledr'a car. J. L. BILLINGSLEY Miami. Florida -Some Territory Open for Responsible Dealers OMAHA HUDSON-ESSEX CO. Harney at 26th Street Tel- AT lantic 5065 Killy Motor Co., Associate Dealer