INDUSTRY IN U.S.A.

Sun (Auckland), Volume I, Issue 302, 13 March 1928, Page 8

INDUSTRY IN U.S.A.

EMPLOYS 4.000,000 PERSONS The prosperity of the motor-car industry is the prosperity of the United States, according to Alfred P. Sloan, jun., president of the General Motors Corporation, and the Rev. D. Chapin, president of the National Automobile Chamber of Commerce, who spoke be-

fore more than 1,000 members of the Merchants’ Association at a luncheon at the Hotel Astor incident to the National Automobile Show, New York. Mr. Sloan said that the automotive industry is now the greatest in the United States in volume of business, having passed steel and steel products about two years ago and now doing 5,000,000,000 dollars a year. Mr. Chapin said there are more than 4,000,000 persons employed, directly or indirectly, in the making of automobiles, while Mr. Sloan, taking into ac-

count the families and other dependents, said he thought it conservative to state that at least 10 per cent, of the population of the United States is linked directly with the industry. Look for Increased Business Both speakers agreed that the lack of Ford production adversely affected business last year, and that the resumption of operations at the Ford plants in 1928 will mean a big stimulus to prosperity in 1928.

‘I believe it perfectly logical to assume,” Mr. Sloan said, “that the pur-

chasing power held back in 1927 v.if "become available in 1928. Therefor? I think we can logically look forward to a prosperous immediate future." Ralph Budd, president of ths Grp Northern Railway, spoke at the Society’s annual banquet of the root'rcar and the railroad as transport £*" torst stating that, while the railro had lost many passengers to the aupmobile in recent years, rail transporttion would never be superseded long-distance passenger and freis traffic.