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Show FORD SAYS PLANS ARE 1TIEKLESS Auto Manufacturer Comments Com-ments on Injunction Suit of Dodge Brothers. DETROIT, Nov. 4. Henry Ford, in a statement made public here today, denied that his plans for greatly expanding ex-panding the Ford Motor company's business could be considered ' ' reckless and unwise." ITis statement was in reply to the temporary injunction which Horace and John F. Dodge, automobile automo-bile manufacturers, obtained against the Ford company last Thursday, restraining re-straining the company from lining its assets to develop its business along lines recently announced by Mr. 1'onl! In their injunction petition the Dodge brothers, who own 10 per cent of the Ford Motor Car company's stock, demanded that most of the company's immense surplus should be paid out" in dividends to stockholders. They allege that Mr. Ford's plans to buy iron mines, establish blast furnaces on' the Detroit river near here and double or treble the capacity of the Ford plant in Detroit De-troit were "reckless and unwise." Mr. Ford declared that the keynote of his company's success has been its ability to sell a tremendous number of automobiles at a small margin of profit on each car. This idea, he said, was to! be carried out in his expansion plan, j Speaking of the Dodge brothers' asser-; tion that the proposed plan would bring ' financial injury to them, Mr. Ford said: They own 10 per cent of the stock and I own about 53 per cent. I can't injure them $10 worth without with-out at the same time injurying myself my-self $58. The injunction case is to be heard here on November 1. It has temporarily tempo-rarily tied up about $52,000,000 and seeks to compel Mr. Ford to distribute about 39,000,000 of this amount in dividends. |