MORE PRODUCTION
GENERAL MOTORS
OPTIMISTIC OUTLOOK
(Received October 19, 2.30 pan.) NEW YORK, October 18.
The General Motors Corporation hat. announced that it is revising the production schedule upward, and is to give (employment to 35;000 additional men within a fortnight, restoring salaries to the levels existing before the reduc-/ tion on February 28. ' • ; Mr. A. P. Sloan, president of the corporation, said that the company believed the business outlook justified ' the step. J «We intend to build up substantial inventories in excess of .the. retail de- • mand during the winter so as to meet an increase of business in the spring. The announcement ' has caused General Motors to resume the leadership on the stock market. General Motors and Chrysler stocks have : reached new high levels, .and Packard; and Studebaker stocks have spurted, Wall Street apparently regarding th« = ; announcement as a* tonic which .ibm market needed. - - .- : , ;'.;■.• ■'•(.
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https://paperspast.natlib.govt.nz/newspapers/EP19381019.2.140
Bibliographic details
Evening Post, Volume CXXVI, Issue 95, 19 October 1938, Page 15
Word Count
146MORE PRODUCTION Evening Post, Volume CXXVI, Issue 95, 19 October 1938, Page 15
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