THURSDAY, SEPTEMBER 17, 1931.
ROLLS-ROYCE.
A Successful Enterprise.
CAR “OFF COLOUR
Little Attentions That Pay.
A study of the financial position When slogging steadily up a hill. of Rolls-Royce, Ltd., reveals the with the engine working at its fact that equally sound and care-hardest, have you ever been passed ful attention is given to the com- party's finances us to its products, A position of considerable strength has been built up and the liquid ity of the assets is a feature of the balance-sheet,"
THE
CHINA
MAIL.
MORE SMALL CARS.
All-Popular Low-Priced
"Babies,"
The end of the year, so far, as the motor car manufacturers are 'con- by an exnetly similar make and cerned is already in sight, if it has similar model to your own and not actually arrived. Within a very wondered why? asks the Light short time the new models-1932 Car and Cyclecur, and have you models they will be called-will ever summed up the situation by saying, "Well, don't know, but it make their appearance. The issued tapital of the com- appears to me that some of these pany amounts to £825,813 in £1models are much faster than
shares out of an authorised total of 1,000,000, including £38,637 held by the company's workers. Both classes rank equally as re- gards dividend and capital.
Ou the formation of the under- taking" in 1906 the capital was in- creased from 20,000 to £200,000, and in 1918 the prosperity of the war years enabled the company to distribute a share-for-share 'bonus
Later in the same year the capita. was raised to its present amount.
others?"?
Wäturally there is a good deal of specification as to what these new
are to be-smail, or Probably you have; in fact, moat çars
large, of us have, but few of us arrive at giants or inties, tuxury or very in- the conclusion which is correct in expensive vehicles. Those who pro nine caves out of ten-namely, that fess to know the secrets of every the ear we are driving is suffering" from a loss of power due. to causea factory are probably, able now to which are fairly easily tapable of reveal the thief, features of all the correction. In certain cases, of new models. I am afraid (says a course, the car that passes na may Motoring Correspondent at Home) be quite defintely. "hotted up"; it is more probable, however, that ita can lay claim to having no such owner is one who takes a pride in pacial knowledge.
s performance and who
udging from never
present markel neglects to go over the chassis tendencies, however, I Venture to periodically in order to make sure predict that by far the largest pro. that it is giving of its best. The purtion of the new cars that are. owner who pays regular attention "un the stocks," so to speak, are. to those little points mentioned in "babies." I have heard it said that the marker landbook is alwaya 1930-31 has been the "baby" car Recent earnings, of course, have well repaid for his trouble and gets year, because since September 1930 been affected by the depression in infinitely better results than the more vehicles of that type haze Industry and contraction of pur-motorist who regards his car as been bought by the public than ever chasing power. Last year's profits his slave and treata it accordingly, before. I firmly believe that 1931- were £147,171, 'as compared with
32 will see a still larger number of
mall cars old.
Dividends and Earnings. For the last four years dividents of 10 per cent. have been paid each time, the rate having been ruised in 1927 from the 8 per cent which hath been forthcoming for a long period.
$201.706 for the previous period of
14 months, equal to £142,881 per annum.
"The sum available for dividends.
however, was over 12 per cent, on the Ordinary capital, so that the 10 per cent. dividend was still moderately well covered.
Sound Assets Position.
It is in the balance-sheet that the strength of the company be comes apparent. The statement at the end of 1930 showed invest- ments at cost of £272,680, of which all but £30,090 consisted of British Government securities; and there was a cash balance of £374,411. Reserve funds amount to £710,000. or not far short of the capital total.
Surplus liquid assets, after de. ducting current liabilities, reach the satisfactory figure of £1,179.- 000, and net assets available for the shares. are in excess of £1,600,000. Goodwill, which must be immensely valuable. was written off in 1913.
Debtors and creditors, both of which were substantially reduced last year, roughly balance, and stock and work in progress has been maintained at a fairly con- sistent figure owing to the steady demand for the company's cars and aero engines,
..
DRUNKENNESS TEST
What New York Police
drunk or
F
May Use.
་
"
Those manufacturers who do not as yet make a car of 10 hp. or less
ventely been
looking with rather envious eyes at the active factories of the firms which had the foresight to go into this market
Under new regulations just isened, the problem of determining in earnest several years ago. They whether motor-car driver is feel. I am perfectly certain, that sober "should be easier they have "missed the coat." The for New York traffic policemen. Aresult is that there is going to be suspect may now be required" to " perfect scramble to get a share of touch his nose with his forefinger this market.
"I never thought it possible for a car to travel so fast, and yet pull up so quickly and gently."
"Well, Sir, Buick had a 25-year reputation to maintain when it built this eight - in - a-line – and had to keep faith with those tens of thousands of people who buy Buicks year after year because of their confidence in Buick's performance.”
THE new Buick is characteristically Buick in all those qualities which have contributed so materially to Buick leadership for a quarter of a century.
Buick has won public confidence on the sheer merit of its products year after year. Thousands of motor car buyers buy Buicks without even asking for a demonstration,
The new Buick, in all series, reflects even more than any-previous Buick has the supreme value" for the money that only an organisation like Buick and General Motors could possibly give.
2
Why not let us demonstrate the new Buick to you to-day 7
114" Wheelbase Buick Models
118" Wheelbase Buick Models
H.K.$6,955 to H.K.$ 7,525 H.K.$8,275 to H.K.$ 8,775
124" Wheelbase Buick Models, H.K.$9,820 to H.K.$ 9,980 132" Wheelbase Buick Models H.K.$9,820 to H.K.$12,295
THE DRAGON MOTOR CAR CO., LTD.
Telephone, 30228.
33, "WONG NEI CHUNG ROAD, HAPPY VALLEY.
for several minutes with his eyes with his eyes closed, to stand erect Inexpensive But Not Cheap.
It is a profitable market, too, closed, or to pick up a coln from once you are turning out the right the pavement.
type of car and everything is going If still in doubt a policeman may well with production. The "baby" ask the suspect to walk a straight ear is inexpensive, I agree, but line, to tell the time quickly and ac- would not call it particularly cheap. curately, or to sign hie name to For what it is, it is relatively dear- correspond with that on his driver's er than some of the "full-sized" | licence. The general co-ordination models. of movements may be noted,
I hope one or two of the manu- gether with the general mental atfacturers who contemplate catering titude.
for the man who wants a very panies declaring war on the British Having served a summons, the small car of about 8 h.p. will have "baby" car in the world markets, policeman will be-required to make the courage to try something un- and it has been suggested that thou his statements under oath before conventional and his captain. The Court of Appeal in New York has held that careful observation may establish intoxica- tion, and that expert testimony is
unnecessary.
the
not to copy sands of dollars are being spent on slavishly the big cars they now turn experiments and research in Amer out. No one Austin Seven was an Austin Twelve production of one or more models
can say that theican factories with a view to thei on a smaller scale. Yel look at the of about 800 c.c. which will be enormous success it has enjoyed.
What is wanted, is an equally tractive figure.,
offered to the world at a very at. clear-cut break with big ear ideas. do not mean that there is room well-earned reputation for quality.for any fantastic, experimental de- They have a leading position in signs the public will not stand for the home market for high-powered that sort of thing-but rather the The company owns the entire is-luxury cars, although the smaller adoption of some such idea as front- sued capital of Automobiles Rolls models are meeting with a grow. wheel drive or a rear-engined car Royce (France); the investment ining appreciation.
In spite of the difficulties of the export trade the proportion of the company's exports to home sales was maintained during 1930,
Other Interests.
A small loss was sustained by the French company last year,
In 1919 Rolls-Royce of America
་་
High-Class Products. Rolls-Royce products have a
with streamlined body.
competition is keenest it is inevit able that prices will have to be on a very competitive level. After all, the new-comers will have to make
atory, for the simple reason that I am not at all Impressed by this the motor manufacturers, in, the United States never produce a car which is not likely to have a big vogue in the home market. anyone suggest that a "baby" car is likely to have sufficient anle in
Does
A
accounts the number is not suff- ciently large to make the rest of the manufacturers turn to that parti- cular type as the salvation of their -present dificulties.
the subsidiary amounting to Royal Air Force orders and in- If my estimate of the position is, the United States to justify one of £20,000 was written off in 1921. quiries for foreign governments correct, and the next three months the largest manufacturers laying keep the aero engine works well see several new small cars put on down special plant for its manufac occupied, and the fact that the the market, then it can be confident- ture? So far no small car bas ap- Rolls-Royce engines figure in many fly assumed that prices will come peal to the American motorist. was formed, the English undertak- important events, such 45 the down. In some cases the reduc-few have been sold, but from all ing receiving the majority of the Schneider Trophy Race, is a testi- tions may not be much, but where common stock for the goodwill.mony to the high reputation which This, company has not been very has steadily been built up since successful, and for 1930, the sub-the company's Inception. stantial deficit of $1,769,000 was Rolls-Royce shares have fluc- reported.
tuated considerably in price this a footing for, themselves,, and one. It la contended that the success" The holding in the American year, having been up to 40s. and of the obvious ways is to appeal to of the British small car in the over- undertaking does πότ appear as low as 27s, They are now the motorist on a price basin
sea Murkets has taken the Amer among the assets of Rolls-Royce quoted around 35s., at which they American Manufacturers Activities icans by surprise, and made them as the value at present, is not de- return nearly 5 per cent on the There has been a lot of talk, I consider the advisability of con- terminable.
basis of last year's dividend.notice, about one of the biggest centrating on similar types. But I (Continued at foot of next Column.) Evening Standard.
American motor producing. com-doubt whether any United States manufacturer would consider him- self much better of if he could turn out a car to sell in the various ex- port markets in which he is inter- ested in as, large, numbers as, say, the Austin Sevěn
SPRING FLOODS IN POLAND
City of Vitos, had more than one hundred homes destroyed and nearly two thousand persone made hometsas when the "Kosherga River overflowed its banka,^3/wo÷army, Bulake and jan şaselent, Cadillac tako government oficials on a tour of inspection.
The point to remember is that where we think In terms of hun- dreds of curs, the American manu- facturer thinks in thousands.
As for the British home market, I am convinced that it is now secure from any threatened invasion either |-from---America-or-anywhere else, unless, of course, there is some ill- advised tampering with the import | duties.
MOTOR RADIO SETS.
With the more general use of automobile radio, the Lincoln Motor Company announces that Lincoln cars are now. chainga-bafite: to! facilitate the use of compact radio „sets, such ma" are now being mark- Red for automobile use. The wire mesh which supports the roof. materialgia, insulated against grounding permitting it to serve as" an serial for the automobile radio, if desired.
The
BUICK 8
The Eights with Buicks Prestige
Beautiful Cars
GOOD CARS
BUILT TO LAST A
Advancing Traditional Excaliones
LONGER WHEELBASES give gracious riding comfort. and smart, fleet appearance--DOUBLE-DROP FRAME, box-type, provider low.swung grace and great strength of chassis-ADVANCED PERFORMANCE from engines
of greater power and greater efficiency-MONO-PIECE STEEL BODIES, înmulated, jointless and squeakles, ex- tremely strangs with exceptional upholstery and other fine Appointment-INTERNAL EXPANDING HYDRAU LIC BRAKES, weatherproof, positive, self-cqualizing, ·
A LONG, LONG TIME
THE New. Dodge Six and Eight are designed and built on the principle that whatever will make for greater satisfaction to owners will add to Dodge Brothers good will and prestige. 1 Dodge engineers deliberately set their standards higher than is ordinarily considered necessary. A finer material-a closer limit of precisión-a more careful operation-a-mofé exacting test-these are the reasons why Dödġe cart can be driven with pleasure for a long, long time. And the beauty of the New Dodge Six and Fight con tributes so lasting satisfaction, for their harmony of line; balance and proportion assures that their style will be good style for many seasons.
DODGE BROTHERS
STX AND El 6 H T
SOUTH CHINA MOTOR CAR CO.
Tel 25644.
33, Des Voeux Road Central.
**Tel 25644.