MOTOR TRADE BUOYANT.
MORE MEN EMPLOYED. NEW YORK, Oct. 18. The General Motors Corporation has 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 reduction on February 28. Mr A. P. Sloan, president of the coroporation, said that the company believed the business outlook justified the step. “We intend to build up substantial inventories in excess of the retail demand during the winter so as to meet an increase of business in the spring,” he said The annoucement 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 the announcement as a tonic which the market needed.
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Manawatu Standard, Volume LVIII, Issue 276, 20 October 1938, Page 12
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140MOTOR TRADE BUOYANT. Manawatu Standard, Volume LVIII, Issue 276, 20 October 1938, Page 12
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