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Show ; r-BSTRY SEES ; -uopEFUL SIGNS, ! BANKERS TOLD IWinterThnU-st .BUC FALLING OFF !v;rtMrn,uc";r,r- ! 0'M"nu,-cturer j TH Financier. ' r.MlTlXCi that transportation Stormot automobiles now : Uf the American pub-v" pub-v" fke million "oar-years bo- " that this "0,lc ' '"UuJlly have to be made ?.hd H. Grant, vice pres.-' pres.-' ; ike General Motors Corpo-' Corpo-' reoeny told the American iV, usoclatlon convention i , eaploymeut in his. company ' jhirMter this winter than 'SymeM during the winter I Tu lsa very Important thing. i 1 Grant said- "So far as our cor-. cor-. m is concerned. In Novem-December. Novem-December. January and ieb-Yil ieb-Yil be employing at least !;;sny and probably more' men ! a, did this past year." , taorJerto gauge the outlook for L. war's market his corporation, :B:1 attempts to set up sales !'..-.a based on Intensive sclen-: sclen-: Studies la addition to observa- i and common sense. ! "Ve are In the habit of looking ; -ot an automobile not merely as I a automobile but as transporta- l3," he said. "VSe ngure eacn 'taiaobile produced as six years I j transportation. Then by follow-i follow-i up records of production yearly, i pi a graph which Indicates j iLit ought to be a normal Inven-' Inven-' a; ot transportation in the hands i tta American people, and wheth- llere are more or less .miles ! u might be expected. According t our figures, there are about lidre million years less transpor-rnin transpor-rnin la this Inventory at the pres-ut pres-ut tims than ha3 been considered kxiI since 1925. Hit Outlook for Businesi . "Coueojiently, it we retain the urn purchasing power in this jOTiitry, it is quite evident that on lit trst upturn of business there I liil be a rush to replace that in- mtory. In developing this graph, II las come out very strongly that wery third year is a big automo-Kle automo-Kle year. The biggest automobile liar was 1929 when 4,100,000 cars lets produced for American con-mption. con-mption. This year the industry rill produce somewhere between WOO and 1,900,000 cars. As lil! is three years after 1929, If Konomlc conditions were normal n could be sure we would do a temendous business, because the third year Is the time when the fclk ot the replacing takes place." He added that there are factors it wort that make it uncertain how lit the year will be, instancing that "nosey is being hoardeu from lack 1 confidence and this takes away one purchasing power that we would otherwise have, while family Wgets are being cut on account I changes in income conditions, which again means that purchasing Power tor the automobile, like a food many other , things, will be locked down." As a result, he "id, It was necessary to measure hat statistically would be a' big I8" against a practical considera-sn considera-sn of the curtailment ot expendl-'res expendl-'res which U going on and deter-! deter-! how big the year will be unto un-to these circumstances. "From a long haul standpoint, re-KrdlesB re-KrdlesB of how many automobiles Mt ld in 1932, we are storing up l ik business for the future," Mr. Oram said. "There will be fewer 'Womoblles sold in 1931 than will .? to the scrap heap. With 12,-"W),000 12,-"W),000 car-years out of the inven-nine inven-nine percent more gasoline 'used up to August 1, 1931, than " used In 1930. With fewer au- tnrnr,VM- --""mb, tne people must have M running them faster and otlK to consume the additional "'aline. This means that we have 22,000,000 people working tit make flne Buslneaa for , "ittstry when ther is an eco-10alc eco-10alc recovery. No Falie Optimism ' m not attempting to create any optimism I am not speaking "l0 a statistical background. ! the best sense we can, we ' drawn conclusion, from the was we have, and I am willing the statement that as far the conduct of our business for first half of 1932 is concerned, ' "hall aet the indices somewhat than the actualities of 1931. u ,re willing to set our advertiB- budgets and our selling expense ornl klnd 01 lndices. With eco-iinc eco-iinc condit'ons as tkey are, and 9 the obsolescence is so great , 8 have sunk so low in this " sales, we figure that the first kattn must necessarily be than was the first half of |