FORD’S FLEET.

Hawera Star, Volume XLVIII, 4 April 1925, Page 5

FORD’S FLEET.

MAGNATE’S MANY ACTIVITIES

“MIDAS TOUCH.”

NEW YORK, Feb. 16. With his countless enterprisese already 7 yielding a fabulous income, the Midas touch of Henry Ford continues constant extension to new industries and departments.

Ford now employs 100,000 persons and has created a vast, interlocking commercial empire. His plans oal| for an Allantic fleet, besides his railroad. He has become one of the richest men on earth. He pays £3,800,000 income tax.

Ford’s Atlantic fleet, if the plan is expanded, will demand part of *his attention, Init he also is interested in the establishment of plants in rnra] communities. Seven such plants already have been completed along the banks of the Rouge River. , His idea in the rural development system is to develop a programme whereby his employees, if they desire, can work on the farms during the off season. With this in view he may begin to acquire vast tracts of land. Ford’s interest include a newspaper, a commercial air field, extensive fram lands, rubber plantations, power plants a commercial air field, extensive farm glass to cement. All rare yielding, prosperous, sound investments.

Railroad magnates shook their heads when Ford acquired the limping, rundown Detroit, Toledo and Ironton railroad, but they reckoned without including in.their perspective the canny genius of the manufacturer.

Detroit needed money for municipal enterprises and appealed to the great financial, institutions of the country. Finally Ford volunteered to become a banker. He loaned the citv £1,000,000 at 3 per cent. —an action ivhicli aroused the wrath of the institutions demanding a higher rate and which on the surface appeared to lie philanthropic. Again, however, the manufacturer’s business sagacity was attested, He had no need for the sum at the time and was able to exempt it from taxation, which enhanced the actual net yield of the loan.

Now there is speculation and conjecturing as to where this sixty-year-old genius will next direct his enger.v. Temporarily at least his Mussel Shoals plans have been blocked and abandoned. There are daily requests for bis financial backing and the assistance of hip guiding hand. He has been asked to fhinnce a counter revolution in Russia and to alleviate the housing situation of the national capital by undertaking n gigantic building project.