FORD’S GREAT RECOVERY.
Henjry Ford may be a dreamer and a visionary, “but there is nothing very visionary about a £7,500,000 gain in assets in a bad year,” obtserves the New York World.”t
According to statements filed in Massachtsetts, the Ford Motor Company “repoi'ts total assets of £69,000,000 on April 30, compared with £61,500,000 a year ago. Profit and loss surplus increased from £33,000,000 to £36,000,000, and cash and debjts receivable from £12,000,.000 to £17,300i,000.”
On the face of it, comments the New York daily, the Ford method was simply common-sense application of business principles. Henry Ford “was one of the first automobile manufacturers to cut prices, and he made the best of the depression and overcame it,” and “the example is there for anyone to emulate.” The Ford recovery, we read in the Wall Street Journal, was probably the most inspiring event possible to the motor (industry. Little more than six months ago Henry ; Ford seemed to be in desperate .need to borrow £15,000,000 to meet piessing obligations. Unsold cars weie piled high in the factory and choking salerooms all over the country, and nobody was buying cars Yet Fora did not borrow from the banks, but paid them up, and to-day his sales are the greatest in history.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/FRTIM19211021.2.33
Bibliographic details
Franklin Times, Volume 9, Issue 676, 21 October 1921, Page 7
Word Count
210FORD’S GREAT RECOVERY. Franklin Times, Volume 9, Issue 676, 21 October 1921, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Franklin Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in