The Oregon statesman. (Salem, Or.) 1916-1980, March 16, 1924, Page 17, Image 17

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."L '.
Detroit Expert Claims
Four Billion Owed oh Autos
granted in any year. Is approxi
mately $1,584,000,000.
A Detroit company which, locally
handles 90 per cent of the Ford
time sales paper finds the average
loan on a Ford car is S3 30, and
that fully 80 per cent of sales are
the time basis. This would mean
that 1,600,000 of the 2,000,000
Cars Bought "On, Tick" at Retail Cast Year
, Are Estimated at $2,650,000,000 Whole- Ford, 19f3.,w,enre BOld
I sale CFedits Add $1,500,000,000 How
k Business Is Handled Adds to Uiving Cost.
The automobile time payment
situation is at present subject of
discussion in Detroit. It is in the
forefront because one or two en
terprising automobile concerns, in
an effort to dispose of accumulat
ed second hand cars, have been re
cently offering unusually long time
payment terms.
It is current rumor also, that
several companies, It any slump in
sates should occur, are ready to of
fer a time payment plan on sale
of new cars of one-fourth .down
and two years on. the remainder. '
But inquiry among leading re
tail establishments does not reveal
any general tendency toward ex
tending standard time payment
terms, which on new cars are 1-3
down,) balance 12 months; on second-hind
cars, 1-3 down, balance
10 months..
These terms are the crystallza
tion of experience of several years
handling time payment sales; they
represent what can safely be ex
pected if rom the average car pur
chaser. They are to the finance
companies what the American granted in connection with sales
mortality experience table is to the of all other makes there is an ap-
life insurance companies.
Salary Forms Factor
But these standard forms are by
no means followed in all instances.
leading Detroit company re-
parent new credit of $1,056,000.
000 last year. And by adding half
of that amount as total unpaid
balance of previously granted cre
dits, oltstanding total becomes $1,-
584.000.000. To this should be i
quires, for example, a 40 per cent added another large amount repre
down payment in all Ford " and sentlng unsecured credits advanced
Chevrolet purchases where tne ectly by the commercial banks
credit applicant's weekly income to buyers who pay cash. All Items
llJivuuiMcig 't
is less than his monthly payment
under the base plan, says the Wall
Street Journal Bureau. And even
this rule is subject to further
change if the applicant's total in
come is out of proportion to the
size of his obligation. Often an
indorser is required.
As a matter of fact, longer time
payment terms than 10 to 12
months defeat their own ends. If
terms and payments are such that
at all times during the contract's
on time payments; at 1330 a
the total of credits granted on
Ford sales last year was $528,000.-
Puts Credits at $1,000,000,000
By adding an equal amount as
representing the total credits I
1. Silvjer Creek Falls 25 miles good gravel and dirt roads
east from Salem.
2. Taylor's Grove near village of Meharaa 25 miles south
east of Salem paved, gravel, and good dirt roads picnic
grounds and fishing.
3. Through Rosedale district 10 miles south of Salem
orchards and farms rolling hills paved and fairly good gravel
4. Through Polk county orchard and farm district west
from Salem along Willamette river going north passing tulip
farm where are planted 1,000,000 tulips on west farther is
scenic view of Willamette valley.
5. Wilhoit Springs 40 miles northeast from Salem mineral
springs and scenery hotel accommodations paved, gravel,
and dirt roads good in summer.
6. North from Salem through Keiser orchard district to
Spong's landing where is found bathing and picnic grounds
and through Chemawa, largest Indian school in United States.
7- To Albany along Pacific Highway all paved 28 miles
through scenic low mountains and green hills.
added (show
900.000,000 as the grand total of
outstanding credits furnished to
retail purchasers of automobiles.
The above estimate seems low
as no allowance is made for
wholesale financing or the large
volume of used car business. It is
estimated that approximately 6,-
500,000 new and used cars were
sold in 1923. On the basis that 75
per cent of these acrs were sold on
terms, the financial accommoda
tion for both wholesale and retail
Advice on Overhauling
Automobile Is Given By
Local Supply House
life the purchaser has an equity in purchases iast year may have ex
his car, it is almost never reposs- -opd-a 11. ooo.000.000. A fairlv
essea. ui just as soon as me pur- rellable basig for estimating ere
chaser's equity disappears and he
gets into financial straits, he is
willing to have his car repossessed.
Tor that reason many applica
tions are refused where no person
al worth appears in addition to the
car itself.
The chief difference between
dit requirements is to be had from
operations of General Motors Ac-
i ceptance corporation, which in
1923 granted credit on retail new
and used acr purchases covering
186,887 vehicles totaling $102,
050,000. If the same ratio be ap
plied to an estimated -4,875,000
commercial banks and some of the cars sold on credit during the
more .conservative automobile fin
ance companies is that the latter
year, the retail requirements of
the Industry is handling both new
part are specialists in a particular I and used cars could be placed at
kind of credit.
The present tendency is a tight
ening of credits and terms. It Is
this tightening by the more con
servative companies that has I
has moved some of the dealers to !
$2,650,000,000. At least another
$1,000,000,000 to $1500,000.000
might be added to this figure as
representing the amount required
OH wholesale purchases, - bringing
the total credit requirements of
covered sleeping passengers with
the burning liquid. A stampede
to adjoining cars ensued and in
the crush of frantic passengers
many were seriously burned and
otherwise injured.
(By Mail)
BERLIN, Feb. 25. The actors'
Association has issued a warning
to theatrical performers against
going to the United States unless
they have sufficient funds to tide
them over several months. The
warning followed the receipt of
many hard luck' letters frdm Ger
man actors now in the United
States and unable to get work.
He anxiety with respect to this di
sease is Wing capitalised as never
before by quacks and charlatans,
it is timely to have this latest pro
nouncement with respect to the
cancer problem from this organlza
tion of -physicians .and scientist
especially . formed to study this di
sease and to make known to -the
public the tacts as discovered.'
extend more liberal terms on their the industry last year to between
; Without the strength of car-
' cassV ' tread and sidewalk
wherein would you expect
maximum tire mileage under
all road conditions?
i In addition to the better ma
terials, expert hand-crafts-
' maasnip and improved com
pounding in these big oversize
C-T-C low inflation cords
there U heavier and etWmger body
. to withstand the road hocks.
. Tiara tl aba ft C-T-C kaatf-bailt Bat-
laaa tlra to Utnai bf iatUttoa.
vfcfcfc ftta aar rtiaaaid wheel aaa Tim.
C-T-C Take MM mOemf U alaMrt any
own account. Nearly every one of
the leading national automobile
finance companies represented in
Detroit disclaims knowledge of
any intention of liberalizing time
payment terms.
About three-quarters of all sales
are on tlme payments. "You would
be surprised," says the head of a
large finance concern, "to see the
class of people who pay tor their
cars on the time basis. We are
more apt to receive cash from the
workingman buying a second-hand
ear at $150 than we are to receive
cash from the relatively high-salaried
man buying a new S1500
"Many purchasers," says this
executive, "have no intention of
being entirely out of debt for their
initial cost of an automobile as a
$3,650,000,000 and $4,200,000,-
Regardless of the volume of fin
ancing required, the acid tesa of
the soundness of automobile credit
rests in the experience of well-
managed companies.
They Gain Ten Per Cent in Last
Four Tears
Of the 104 kinds of cars listed
in the curent trade papers, 68 are
Six-cylinder cars, or 65.4 per cent,
compared with 54.8 per cent in
1920, a gain of more than 10 per
In 1920 there were 146 kinds
fixed monthly charge in their liv
ing expenses, the same as groceries
and rent."
In the view of a Detroit' bank
president there has been little
Marlon 'Automobile Co.
Salem Automobile Co.
Valley Motor Co.
Ira Jorgenson.
Vick Bros. I
Columbia Tire Corporation.
Factory Branch, 477 Court St.
rf all trnoo Tkli finira nnm
Thejr have come to view the prJsed 52 fou 80 ,,xe8 n eights
and three 12. In the last four
years the total has been reduced to
104, consisting of 24 fours, 68
sixes, 10 eights (V-type) and two
straight eights. The 12-cylinder
hoa Maead ha TriOYiitnVT?n Tar1
change in the percentage of carsl... Tww .nnr
bought on a time payment basis. n. tlia ni.v " wh,pH Wo
He says: "Before the finance com- KMn . - m r.m o. 1Q,ft
panies began to function, the banks
carried the load. The same bankers
who complained about excess of re
tail automobile credits before the
war, are now buying corporate
notes and other obligations indir
ectly secured by automobiles."
Estimates of the amount of cre
dit which the automobile industry
used last year vary, with authori
ties showing wide divergence of
opinion on the subject. One es
timate places new credits granted
to motor car purchasers in 1923
by finance companies in excess of
$1,056,000,000. Total outstand
ing credits, figuring aggregate bal
ance of unpaid contracts as equal
at any time to approximately one
half the amount of new credits
only 12. were sixes, while 28 were
four-cylinder cars, comprising 15
per cent and 52 per cent, respect
ively, of the total makes of each
, Seven companies now make a
six and four, and four companies
produce both; a eix and an eight.
Of the 22 companies that have
been manufacturing motor cars 20
years or more, 14 are producing
sixes today, two are producing
fours, one is producing an eight,
two have both a four and a six,
and three manufactre both a six
and an eight.
Spring is near at hand. Many
motorists are having their cars
overhauled and repainted at this
time of the year. Others are do
ing the work themselves in the odd
moments that they can find over
the week ends. W. F. Watson, lo
cal manager of the Western Auto
supply company, has outlined a
procedure for the back yard me
chanic who plans to do his own
"spring cleaning" in his own gar
"With the proper tools and
equipment it is an easy matter for
the motorist to make the numer
ous adjustments and minor repairs
that his car should receive before
the summer months. With the
many special tools that are now
offered, many car owners do their
own valve grinding, bearing tight
ening and all other similar opera
tions," says Mr. Watson.
Mechanical Work First
"To do a complete overhauling
job, the mechanical labor should
be done first. A thorough inspec
tion of the chassis should follow;
tightening of bolts and inserting
lock washers where needed. It is
often necessary that the radiator
hose should be Inspected, and new
equipment will prevent much trou
ble. "After the mechanical and
tightening process are completed
a thorough greasing should fol
low. If the shackles are clogged
they should be removed and clean
ed. Springs should be thorough
ly lubricated and a general greas
ing should be given where needed.
If the car is equipped with wood
en wheels, close inspection should
be given them, as the spokes may
have worked loose and will re
quire tightening. This may be
remedied by squirting a few drops
of "Spoketite" in the fellows of the
wheel and at the points where the
spokes enter the hubs.
"The car should then be given a
steam cleaning and complete wash
ing to prepare it for the paint job,
There has been such demand for
prepared automobile paints for
home consumption that we have
made up a regular painting outfit
for the man who aspires to do his
own painting, this outfit con-1
tains everything for a first -lass j
job. It contains a large can of
body and fender enamel, a can of
gear and wheel paint, a can of top
dressing, engine enamel and two
brushes and a pack of steel wool.
The painting should be done in a
dust proof room, allowing about 48
hours between coats of paint.
Top nnd Cushions
"After the body painting is com
pleted the top and cushions should
be treated with special paint pre
pared for them. This paint keeps
the leather soft and liable, rather
than hardening it.
In Oregon in 1923, 1974 auto
mobiles of various makes were sold
during the month of January,
while in January of this year there
were 1872 cars sold. This shows
102 fewer sold this year than last
There were 197 trucks sold in Ore
gon last year against 90 this year.
First North Sea Train Ferry
Soon Will Be in Operation
(By Mail)
HARWICH, Eng., Feb. 26.-
The first North Sea train ferry
will soon be running from this port
to Zeebrugge, a distance of 84
miles, in nine hours. It is planned
to run three boats, each of which
will accommodate 5 4 railway
trucks standing side by side on two
sets of rails.
The cost of loading and unload
ing each boat is estimated at four
shillings per ton of merchandise,
as compared with 15 to 25 shill
ings per ton when the contents of
each individual trucks have to be
transferred between train and
Six Lose Lives in Old Acci
t dent on Tsinan-Tsingtao
(By Mail)
TSINGTAO, Feb. 10. Four men
were roasted alive in a blazing
coach of a moving train on the
Tsinan-Tsingtao railway recently.
Two others to escape being burned
leaped irom the train and were
The train was running at high,
speed when a carelessly dropped
lighted match in a third class
coach ignited a can of alcohol.
The accident happened: at mid
night and the resultant explosion
NEW YORK, March 14. That
the best course to follow when at
tacked by cancer is to make intelli
gent use of every help which scl
ence and experience show to be of
value rather than rely upon sec
ret, proprietary, and sensational
cures is the announcement made
by the American Society for the
Control of Cancer following a con
ference of experts in this disease
held under the auspices of the So
ciety at its annual meeting just
concluded in New York City.
In making the above announce
ment Dr. George A. Soper, Manag.
ing Director of the Society said,
"The most helpful fact thus far
established in the organized fight
which is being waged against the
cancer menace Is that many cases
of this disease can be cured and
some prevented through intelligent
cooperation between qualified
physicians and those persons who
think they may have cancer.
"The Society recommends," said
Dr. Soper. "that all persons who
think they have cancer to go to a
competent physician and receive
such treatment as he advises. The
form of treatment will necessarily
depend" he continued, "upon the
kind of cancer, its location, stage
of development and other factors.
Surgery and radiation by radium
or X-ray are valuable methods of
dealing with cancer cases, but,"
cautioned Dr. Soper, "radiation
should be regarded as a tool which,
in the hands of skillful persons
may accomplish good results, but
when administered by those who
are not -thoroughly familiar with
it, may aggravate the disease."
At a time when the public is be
coming alarmed by the reports of
the increasing prevalence and mor
tality from cancer; and when pub-
If You Are
to Buy a Coupe
Here is a description
of one of the most
popular coupes
the Oldsmobile Six.
Body by Fisher: Big, roomy, staunchly
built. Velour upholstery, heater, dome -light,
satin-silvered fittings, door locks,'
cowl ventilator.
Wonderful Chassis: 40 H. P. Six engine,
smooth and quiet. Delco ignition, Borg &
Beck clutch, Alenute lubrication, cord tires,
86' spring length with 110' wheel base. ;
Don't buy any car until you get'oo
quainted with the Oldsmobile SixCoupe
219 North Commercial
Roadster ... 785 Cob j'MS
Touring ... 795 Coupe . . 1075
Sport Touring 915 Sedan 1135
Th Q. M. A. C extended payment ttan maket httybtg Mt
All price f. c b. Landng. Spare tin mnd tax extra.
Announce that on April 1st they will open a first class grease
rack in connection with their storage garage and wash rack;
Gasoline and oils will also be handled.
Prompt and Efficient Service
544 Ferry St.
. i
The 1DO. i
"batnDedmyoumteer - make road turn dear'
KavomeAWvcr)clewfiyaiiomobtlQ A
naratfacturers did not provide proper Jijnts?
Have xxi ewer bought spotlights and
orious other kinds of lltits;hoptnj to
tf you own a carxxtr answer to all three
Questions will undoubtedly be.5fes'
T7& problem is raw solved-onier 8
mounted on the front frame of your car
and connected with a control rod to our
seerir post in a scidaulJsiant canner,
w. wa enjoy a ugni wai win'
m wheels.M a perfect Ititwfierott is
2. (teamttotwiffpenetratakMaifo.
3. SeAeysirMtioaastammistamamry
V hay Installed ,
nVi'trt fits 'otmkrias ynu sfoer
.. l ICG-zOlLB aalesjoaaimadbar'
Issex. Dort.maxmJ!.Aubum. tiasb.
Cole a. Oakand Maris. CtevnXsC. Fixd.
- and many others.
Corner Court and High
PHOENIX, March 16. The Au
tomobile Clnb of Arizona reports
Arizona roads very good at pres
ent, though generally dry and
dusty, a condition that may be
changed by local showers noted
throughout the state. All cross
ings of the Colorado river are In
use, as well as the Gillespie dam
crossing of the Gila river, west of
Phoenix. On all roads leading
westward from this city are stret
ches of chucky road, bt the going
generally Is good. To the east
ward, as far as the New Mexican
line, the Borderland, Central and
Old Trails highways are verlable
The car manufacturer equips the
automobile with tires the correct
size and type for the car's weight
and carrying capacity, and, at the
same time, the tire are classed by
the tire manufacturer with a spec
ified inflation capacity.
, "If," says a tire service bulletin,
"you expect to carry excess pan-
sengers occasionally or invest In
numerous accessories, and if easy
riding is a special desidenUum,
oversize tires should by all tieans
be specified, otherwise your tires
will not give you the service 6rdi
narily expected." Automobile Di
A Complete
De Luxe Beauty
THERE'S a sparkle an dash in
every line smart style com
plete equipment. But it s more than
a boulevard beauty it's a husky
six, not a "light" six. Fifty horse
powerthink of that! Amazing
performance flexible marvelous
pick-up a wonder on hills. Ask any
Jewett owner. Then drive this car.
Gome in today!
(By Mail)
OWSCHLAG. Holsteln. Feb. 24.
( Jurgen Schnack and his wife re
cently celebrated the 70th anni
versary of their wedding. Schnack
1 90 years old, and his wife, 85, are
both, la excellent health, - j
Tearing . . . $1065 DeLaxe Roadster $1195
BroDfhftm . . 1325 Da Luxe Toarinf . 1220
Sedan .... 195 De Laze Sedan . 1695
trio el DetrtU. Tes txtre.
349 N. Commercial , . Phone 959
Hagen Bros., Associate Dealers, Silverlon
, 'THE ability, of Kelljr-Springfield
$ cords to stand a tremendous
amount of punishment without
; giving trouble is only; one of the
features that have won for them
their great popularity. They also
give as nearly perfect - protection
against skidding as any tire can
give and deliver mileage which
alone would make their purchase
It costs no more to buy a Kelly
Our stock of Kelly-Springfield tires is complete
235 South Commercial St.: