Show TO CHEm NOT AlARMING N No Danger While e Wages Wage Are Plentiful B STO Feb 12 While some Bome bankers bank bank- ers r 1 dr are showing concern over th the growing grow grow- ing ng tendency to buy automobiles on credit and to and to to lengthen the period durIng during dur dur- ing log which partial payments payment may be made n there are other othere equally well Informed Informed In Informed In- In formed who say ay that this ibis situation need give Rive no O present cause canoe for alarm They declare that ot there Is bound tobe tobe to tobe be trouble should credit extension extensions be bernadA marlA on on- unsafe terms and for periods But Is I true they i pay ay y of ot an any credit risk sa says s the Boston News Bureau iv i-iv sJ New reY York k banker who has hae given the he he automobile v Industry particular udy and who ha for years been ac- ac ely tl interested In motor Investments says eay I- I With our present growing volume f credit pressing for employment and with with- ordinary business prudence exercised exercised exer exer- deed there need neld b be n n cause cauce for apprehension hension if It of automobile purchasers purchasers' ar paper Is le outstanding so co long lone longas as 8 the coun country's wago fund Is maintained main main- tamed at anything like Its present pro pro- portions o While I have heard that some come automobile auto auto- mobile mobile- dealers are giving their customers custo custo- mers eighteen months month and two years In I which t to complete payments y ts of p purchased pur pur- mt chased s cars car a I believe le such auch cases are I exceptional and by no means symptomatic matic of ot conditions generally pre prevailing prevail prevail- va ing in this Industry When more than thana thana a a years year's time Is 13 given for the payment of a a. pleasure car there Is III Injected an element of ot unsafe banking unless the financial standing of the maker of the note Is very ery much above the average of those purchasing and dealing in to automobiles automobiles auto auto- mobiles today auto I I t take no stock whatever In the t talk that the e automobile 0 saturation at I i point pont Is close clos at hand Who can say Ray what this point Is Some ome will wilt affirm I that this saturation point will wilt have arrived arrived ar arrived ar- ar rived when the total number of cars carll on tho the road Is equivalent to one one- oneto to a 8 fam fans ily fly That has Isas a sort of ot convincing sound cound but look about and see the num- num i ber bel of ot families that already have ha two 1 I or r more cars In their possession The lowly flivver la Is II essentially a a utility In thousands of Instances and supplements the more pretentious automobile in the came ame am family amly Unless there thee should be a 8 business reaction ct n el in p this country t he throwing r g gb ga many a out of employment pm m there need b be no cause cauce caule for anxiety with wih respect to the automobile Industry The wage ace earners are lire the buyers of cars cara today and 1024 1034 give given every evidence of being as good gooda 00 a year for tor the tha Wage wale worker as aa was 1023 and In my opinion It will be better beter wi The po o called conservative banker has baa hI nothing to lose by talking conservatism con con con- and and of course coure it Is ii always the automobile which Is b the first point pint of ot attack But hut there is nothing unsound un un- un- un sound round In the present J methods of financIng In ing the purchaser of ot and dealer In automobile auto auto- mobile If I the generally r recognized banking practise of ot those thosa familiar with this lne line of or credit era are are not observed red wih and competition t l for business le leads lead to un unwarranted un- un r f warranted laxity bt's that is a fair subject bj ol OX o criticism but It i Is II no more true of ot I the automobile Industry than It Is of ot I any other an rt f r ha have heard many fal false e alarms sounded In recent years year over the terrible things which were ere going to overtake Out our automobile o economic gI but situation tUt tho t business because r se has of s sur eui the ved despite all al the and and will survive i until unsound and discreditable wi banking method methods not now no in general practise creep into use us |