Auburn Getaway?

Steady but slow has been the 1931 march of the motormakers. They do not expect this year to be great; they maintain it will be satisfactory. No fanfares and banners have heralded any attempt to invade once more the rich territory of Tremendous Profits from which they retreated in such confusion last year.

Last week, however, one of the marching motormakers suddenly became conspicuous. He was 36-year-old President Errett Lobban Cord of Auburn Automobile Co. and Cord Corp. Abruptly he burst from the slow-moving ranks, raced down the road with unprecedented speed, shouted great tidings of Auburn prosperity.

Even before President Cord's sprint became noticeable, Auburn stock on the New York Stock Exchange had begun to move. Bears short of it became uneasy when from a low of $88 1/2 in December and $60 3/8 in November it rose to $100, bounded on through $125, neared $150 in a mad display last week. In the commission houses there was talk of a "technical corner." Speculators pointed to the fact that Auburn has only 187,533 shares outstanding, that probably 90,000 are held by Cord Corp. If a strong bull pool cracked the whip, Auburn bears could easily be made to grunt. It was even said that President Cord's bullish utterances were timed to help a pool he ran.

Such reports did not dampen Mr. Cord's enthusiasm. Said he: "There has been no supporting group in this stock to my knowledge since last July. The whole activity ... is the result of what our company has been doing in the way of production. . . . Our schedule has been increased to 19,900 cars up to May i." In all 1930, only 13,000 Auburns were made. For 1931, 40,000 are predicted by Mr. Cord.

Datelined Auburn, Ind., but postmarked Chicago, where the company's publicity agents work, a happy fusillade of Auburn statements accompanied the reported Auburn boom. Vice President Roy H. Faulkner announced: "We are exerting every effort to meet this situation and are gearing our plants up as fast as is humanly possible with the hope that within 30 days we will be able to supply the demand. In this we are asking the public and our dealer organization to bear with us."

Another statement was that Auburn plants were running on a six-day basis, some departments with night and Sunday shifts. Ninety firms supplying parts for Auburns were electrified by the following telegram from Mr. Faulkner: WE WANT TO IMPRESS UPON YOU THE FACT THAT OUR LINE HAS MET WITH PHENOMENAL ACCEPTANCE AND ORDERS ARE COMING IN SO RAPIDLY THAT THE SITUATION WILL BE SERIOUS IF WE ARE UNABLE TO MAKE DELIVERIES DUE TO SHORTAGE OF MATERIALS.

Bed Car. Motormakers last week had another thing to discuss. It was a new Durant line of sedans with a "Pullman attachment" as standard equipment. Owners of these new Durants will not have to get out of their cars when they wish to stretch themselves out full length. At the press of a little lever, the back of the front seat gives way, a "reclining couch" comes into being. Durant advertisements pointed out the many uses of this "roadside resting or sleeping room." It "makes traveling with children delightful," enables businessmen to "keep going as long and as far as they like," furnishes "a hotel wherever you are." "AN INTERIOR ATTRACTION THAT BEATS THE RADIO" was the Durant slogan.

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