Show STUDEBAKER TO 1 I PUSH BIG PLAN PLANA I l OF EXPANSION A An- An president Erskine A. A v Methods for t F. F Financing b J f r t t The he Studebaker corporation c through US u president 7 nt A. A I Ii n has lust r r- r Us plan of or expansion l Ji ring MUO oC ur T 7 per pee cent sp- sp sot so- so t rial notes to be bo offered to tho public y the tho next few days bs will not only all nIl outstandinG bank losing loans r but provide prO aa as well for a i t considerable n. n 1 expansion o oJ of iho tho mal I ties ot of the corporation Mr 1110 1 f s Is' authority for tho ho statement that thal hit his all alt plans company compau Is making necessary i to provide pro for Cor an annual production of oC automobiles b by tho the summer of or 1920 1990 This means of course COUlse that thal there will bo he a n very cn noteworthy orth increase in to tho number ot of at t tho Studebaker Stude- Stude baker haker factories With tho iho Increased fa- fa it will require aL least ulI art art- 1 I workers wo for or tho South Bend plants alone making the tot total l number I of or Studebaker employees in all an plants well above the hc marls mark i In a a. cr very resume o oC of the thc principal events o In the evolution of oC t tho the Studebaker corporation from a n nt t roadside bl shop to the largest lart t v manufacturers S o of vehicles in tho tiro world I v i T r Mr Erskine Er S says 1 Y Tho business was first 1 at South fiend Bend Ind In 1552 11 lJ by II II and 1 C. C Studebaker who operated as n a firm until 1865 and antI cuc- cuc c eroded b by S Studebaker u baler brother 1 c factoring con conan company an which with Ever Ever- Itt Flanders company y ns TJ Jn merged into the er corporation corpora corpora- j tion ns nt of oC January 1 1 1911 Tho Thu ho corporations corporation's cor cor- I s inh plants lo- lo f led at at- South U Bend nd Olt Detroit Chicago o and Ontario Cl Canada a cov- cov cr cr is 18 acres x con contain rain square I feet of or floor space p are arc equipped with about and employ over r p persons person The rhe business of or tho tiro corporation n 1 Is the manufacture and 1 sale of or automobiles horse drawn ve ve- ve hicle harness sl and automobile and nUll vehicle parts of all kinds s and da crip- crip These product b bearing the name dame are arc marketed In all 11 civilized ci countries countries- I Tho The combined sales of or the dent lont firms and aUlI companies durin during fifty fifty- I t- t years to Janul January 1 I 1911 4 amounted t cl to 1 while th the sale of oC the thc present St cor- cor 1 1 In th the next seven en years ears were covering 05 automo automo- lilies hues 11 drawn horse rawn vehicles and r large e quantities of or harness and ind autor automobile auto- auto r mobile mo and md vehicle parts part Il T. A c s The Tic to total l tangible tans assets of or tho the T 1 corporation at tho the date dateo o of r r the tho organization of tho corporation Amounted to j of ot which was t represented b by pl plants and property and 30 b by net quick assets asset As of or October 1 I Ins 1915 these net tangible as assets had Increased l to of ot which lG Q V as n represented b by plants and p OP l nn and 2 b by not quick quick- ast ns- ns t r fl pets lt th the increase of oC U O 10 re- r i from Crom surplus net profits left In tho the busness busnes t Upon completion of ot present J the tIle outstanding ca t- t lion of the Corporation will ho as is s foli lIl lows low Fund Funded d debt 7 per por cent serial l gold fold ld notes thin hi present issue c Of 0 capital clock 7 j per cent tivo tl 6 preferred stock 1 common common com- com I mon stock The notes will be a a. direct obliga- obliga t lion tion of or this corporation dated Jahu- Jahu ary r l I 1 1919 1 nn and mature maturo In series series' oz oo 00 January 1 I 1021 to January 1 1 1029 1920 In inThe in- in has lias no J. J The Tho corporation no bonds dc- dc I or long true obligations ns out- out v standing lauding j I t On 1 1912 the tho corporation rf 1 Issued of 3 Z per cent ten- ten year C car serial gold notes note payable ablo l sei from 1012 1912 to 1922 2 but hut t through h h largo large increase of oC profits re reductions rc- rc in vehicle Inventories Inventories' and other Income Incont It is-as is is po possible In 1913 1915 9 to tn anticipate payment of or o over or r on one one- laIC of oC these serial notes and lud in Fob looh lG to anticipate and retire rth them altogether six years before final I maturity n j This new plant which It la is T x- xi i I y petted peeled will Rio fio o finished 1 by 1920 lO will r f s A have a L capacity ot or cars jl per r ant ant an- an anI I t t num num and with tho of the tho the corporations corporation's Detroit plant of o mars per annum will trill double our ca capacity capacity ca- ca and give ive u us mami mant torturing fa facilities fa- fa unexcelled in this country from I I tho standpoint st of or efficiency and economical economical eco ceo manufacture The net of or the tho corporation an and its subsidiary com corn companies companies for the seven years ears ending Dc- Dc n 31 31 1917 after aHer charging off art l depreciation lion were an average crae of oC per year Notwithstanding Not Not- withstanding the tho curtailment ny nv our war operation an and the tho restrictions ns on 01 automobile production the tho tc l net profits for 1018 1918 alter after making provision provision pro pro- vision for a Waxes axes and depreciation oll will amount approximately to Wo Ye expect to be hc back Jack In ht full Culi quan quantity Uty production of oC vehicles by b- January Janu Janu- al' al ary I 1919 and of oC automobiles b by Match March In 1919 an and 1 next year car our profits should be be- considerably be-considerably larger Jar I while v. thereafter er cr with ou our plant enlargements completed completed com com- IJ Ie led wo the Col greater ca er profits tl than an wo we have h c ever cr r experienced |