In making an analysis of this subject an expose along the following lines will disclose a definite basis upon which to make a survey of the history of past activity in the securities of a given industry, comparisons with other parallel industries, the present condition of markets for securities of these industries, and a forecast of what the general tendencies are likely to be.
The securities of the companies manufacturing automobiles, automobile accessories, and tires which have been traded in on the New York Stock Exchange for the years 1906, 1909, 1912 and 1916 are shown in the following tabulation, which gives an interesting exhibit from which it is readily seen how this young giant of modern industry is the product of comparatively recent growth:
| 1916 | 1912 | ||||
|---|---|---|---|---|---|
| Name | High | Low | High | Low | |
Ajax Rubber Co. |
891⁄8 | 63 | ..... | ..... | |
Chandler Motor Co. |
131 | 88 | ..... | ..... | |
General Motors Co. |
(C) | 850 | 405 | 427⁄8 | 30 |
| (P) | 1281⁄2 | 108 | 823⁄4 | 701⁄4 | |
B. F. Goodrich Co. |
(C) | 80 | 571⁄8 | 81 | 601⁄4 |
| (P) | 1163⁄4 | 110 | 1091⁄2 | 105 | |
Kelly-Springfield Tire Co. |
(C) | 851⁄4 | 56 | ..... | ..... |
| (P) | 101 | 953⁄8 | ..... | ..... | |
Lee Tire & Rubber Co. |
561⁄2 | 251⁄8 | ..... | ..... | |
Maxwell Motors |
( C) | 99 | 44 | ..... | ..... |
| (1-P) | 93 | 65 | ..... | ..... | |
| (2-P) | 607⁄8 | 32 | ..... | ..... | |
Saxon Motors Co. |
843⁄4 | 637⁄8 | ..... | ..... | |
Stutz Motor Co. |
791⁄2 | 481⁄2 | ..... | ..... | |
Studebaker Motor Co. |
(C) | 167 | 1001⁄8 | 491⁄2 | 30 |
| (P) | 114 | 1081⁄4 | 981⁄8 | 901⁄2 | |
U. S. Rubber Co. |
(C) | 703⁄4 | 473⁄4 | 677⁄8 | 451⁄4 |
| (P) | 1151⁄4 | 1061⁄8 | 116 | 1055⁄8 | |
| ..... | ..... | 851⁄2 | 75 | ||
White Motor Co. |
593⁄8 | 45 | ..... | ..... | |
Willys-Overland Co. |
(C) | 811⁄4 | 34 | ..... | ..... |
| (P) | 117 | 94 | ..... | ..... | |
Rubber Goods Mfg. Co. |
..... | ..... | 107 | 105 | |
| ..... | ..... | ..... | |||
| 1909 | 1906 | ||||
|---|---|---|---|---|---|
| High | Low | High | Low | ||
| Ajax Rubber Co. | ..... | ..... | ..... | ..... | |
| Chandler Motor Co. | ..... | ..... | ..... | ..... | |
| General Motors Co. | (C) | ..... | ..... | ..... | ..... |
| (P) | ..... | ..... | ..... | ..... | |
| B. F. Goodrich Co. | (C) | ..... | ..... | ..... | ..... |
| (P) | ..... | ..... | ..... | ..... | |
| Kelly-Springfield Tire Co. | (C) | ..... | ..... | ..... | ..... |
| (P) | ..... | ..... | ..... | ..... | |
| Lee Tire & Rubber Co. | ..... | ..... | ..... | ..... | |
| Maxwell Motors | ( C) | ..... | ..... | ..... | ..... |
| (1-P) | ..... | ..... | ..... | ..... | |
| (2-P) | ..... | ..... | ..... | ..... | |
| Saxon Motors Co. | ..... | ..... | ..... | ..... | |
| Stutz Motor Co. | ..... | ..... | ..... | ..... | |
| Studebaker Motor Co. | (C) | ..... | ..... | ..... | ..... |
| (P) | ..... | ..... | ..... | ..... | |
| U. S. Rubber Co. | (C) | 575⁄8 | 27 | 591⁄2 | 38 |
| (P) | 1231⁄2 | 98 | 115 | 1043⁄4 | |
| 891⁄2 | 671⁄2 | 871⁄2 | 75 | ||
| White Motor Co. | ..... | ..... | ..... | ..... | |
| Willys-Overland Co. | (C) | ..... | ..... | ..... | ..... |
| (P) | ..... | ..... | ..... | ..... | |
| Rubber Goods Mfg. Co. | 105 | 105 | 43 | 42 | |
| ..... | ..... | 1081⁄2 | 100 | ||
| Name | Dividends Paid | Bonds Outstanding | Sales in 1,000 1916 |
High 1916 |
Low 1916 |
|
|---|---|---|---|---|---|---|
Ajax Rubber Co. |
1916—10 % | None | ..... | ..... | ||
Chandler Motor Co. |
1916— 7 % | None | ..... | ..... | ||
General Motors Co. |
(C) | 1915—50 % | ||||
| 1916—25 % | ||||||
| 1909—150 % Stk. Div. | ||||||
| (P) | 1911 to 1916 (inc.)—7% | None | ||||
B. P. Goodrich Co. |
(C) | 1912—2 % | ||||
| 1916—4 % | ||||||
| (P) | 1912—31⁄2% | |||||
| 1913 to 1916 (inc.)—7% | None | |||||
Kelly-Springfield Tire Co. |
(C) | 1915— 6 % | ||||
| 1916—16 % | $270,000 | |||||
| (1-P) | 1914—3% | |||||
| 1915-6 6 % | ||||||
Lee Tire & Rubber Co. |
1916—$2.25 per share | None | ||||
Maxwell Motors |
(C) | 1916—21⁄2 % | ||||
| (1-P) | 1915—5 % | |||||
| 1916—7 % | ||||||
| (2-P) | 1916—11⁄2% | None | ||||
| Saxon Motors Co. | 1916— 31⁄4% | |||||
Stutz Motor Co. |
1916— $1.25 per share | None | ||||
Studebaker Motor Co. |
(C) | 1915— 5% | ||||
| 1916— 10% | ||||||
| (P) | 1912 to 1916 (inc.)— 7% | None | ||||
U. S. Rubber Co. |
(C) | 1911— 1% | ||||
| 1912— 4% | ||||||
| 1913— 51⁄2% | ||||||
| 1914— 6% | ||||||
| 1915— 3% | $69,000,000—5% | ..... | ..... | ..... | ||
| (1-P) | 1906-16 (inc.)— 8% | 16,500,000—6% | 1782 | 1031⁄2 | 1013⁄4 | |
| (2-P) | 1906-16 (inc.)— 6% | |||||
White Motor Co. |
1916— 51⁄4% | None | ||||
Willys-Overland Co. |
(C) | 1913— 11% | ||||
| 1914— 6% | ||||||
| 1915— 11% | ||||||
| 1916— 14% | ||||||
| (P) | 1913 to 1916 (inc.)— 7% | None | ||||
Rubber Goods Mfg. Co. |
None | |||||
| Stocks | Shares Traded in | Shares Traded in | |||
|---|---|---|---|---|---|
| Name | Outstanding | 1916 | 1912 | 1909 | 1906 |
| Chalmers Motor Co. | $ 464,000 | 36,566 | ..... | ..... | ..... |
| Chevrolet Motor Co. | 23,909,000 | 660,550 | ..... | ..... | ..... |
| Emerson Motor Co. | 7,000,000 | 116,990 | ..... | ..... | ..... |
| Falls Motor Co. | 24,850 | ..... | ..... | ..... | |
| Grant Motor Co. | 2,000,000 | 93,240 | ..... | ..... | ..... |
| Preferred | 1,000,000 | ........ | ..... | ..... | ..... |
| Hupp Motor Co. | 5,000,000 | 130,130 | ..... | ..... | ..... |
| Preferred | 1,500,000 | ........ | ..... | ..... | ..... |
| Imperial Carbon Chaser Co. | 1,000,000 | 637,850 | ..... | ..... | ..... |
| Keystone Tire & Rubber Co. | 1,000,000 | 137,200 | ..... | ..... | ..... |
| Preferred | 500,000 | 33,800 | ..... | ..... | ..... |
| Mitchell Motor Co. | 125,000 | 80,495 | ..... | ..... | ..... |
| National Auto Corporation | 61,865 | ..... | ..... | ..... | |
| Peerless Motor Co. | 10,000,000 | 135,263 | ..... | ..... | ..... |
| Pierce Arrow Motor Co. | 250,000 | 52,300 | ..... | ..... | ..... |
| Preferred | 10,000,000 | 1,600 | ..... | ..... | ..... |
| Republic Motor Truck Co. | 62,500 | 20,870 | ..... | ..... | ..... |
| Scripps Booth Co. | 70,000 | 27,725 | ..... | ..... | ..... |
| Smith Motor Truck Co. | 10,000,000 | 39,500 | ..... | ..... | ..... |
| Springfield Body Co. | 1,750,000 | 26,481 | ..... | ..... | ..... |
| Preferred | 750,000 | 11,461 | ..... | ..... | ..... |
| Standard Motor Co. | 1,800,000 | 47,490 | ..... | ..... | ..... |
| Stromberg Carburetor Co. | 50,000 | 72,050 | ..... | ..... | ..... |
| United Motors | 1,195,000 | 1,297,355 | ..... | ..... | ..... |
| Studebaker Co. | ......... | ......... | 16,973 | ..... | ..... |
| Preferred | ......... | ......... | 4,717 | ..... | ..... |
| U. S. Motors Co. | ......... | ......... | 53,393 | ..... | ..... |
| Preferred | ......... | ......... | 54,433 | ..... | ..... |
| Willys-Overland Co. | ......... | 2,570 | 13,045 | ..... | ..... |
| Preferred | ......... | 4,350 | 11,045 | ..... | ..... |
| Goodrich B. F. Co. | ......... | ......... | 40,846 | ..... | ..... |
| Preferred | ......... | ......... | 32,211 | ..... | ..... |
| General Motors Co. | ......... | ......... | ..... | 1,406 | ..... |
| Consolidated Rubber Tire Co. | ......... | ......... | ..... | ..... | 2,843 |
| Preferred | ......... | ......... | ..... | ..... | 410 |
| Ajax Rubber Tire Co. | ......... | 102,065 | ..... | ..... | ..... |
| Alliance Rubber Tire Co. | ......... | 14,400 | ..... | ..... | ..... |
| Preferred | ......... | 3,200 | ..... | ..... | ..... |
| Electric Vehicle Co. | ......... | ......... | ..... | ..... | 1,000 |
| Preferred | ......... | ......... | ..... | ..... | 3,705 |
| American Motor Co. | ......... | 24,500 | ..... | ..... | ..... |
| Pope Mfg. Co. | ......... | ......... | ..... | ..... | 1,250 |
| 1st preferred | ......... | ......... | ..... | ..... | 3,790 |
| 2nd preferred | ......... | ......... | ..... | ..... | 5,450 |
| Chandler Motor Co. | ......... | 40,985 | ..... | ..... | ..... |
| Enger Motor Car Co. | ......... | 7,456 | ..... | ..... | ..... |
| Essex Motor Co. | ......... | 9,950 | ..... | ..... | ..... |
| Fisk Tire Co. | 8,000,000 | 1,695 | ..... | ..... | ..... |
| Fisher Body Corporation | 200,000 | 20,130 | ..... | ..... | ..... |
| Preferred | 5,000,000 | 3,900 | ..... | ..... | ..... |
| General Motor Co. | ......... | 89,250 | ..... | ..... | ..... |
| Preferred | ......... | 13,416 | ..... | ..... | ..... |
| Intereon Rubber Co. | ......... | 76,848 | ..... | ..... | ..... |
| International Motors Co. | ......... | 8,441 | ..... | ..... | ..... |
| Preferred | ......... | 3,626 | ..... | ..... | ..... |
| Kelly-Springfield | ......... | 435 | ..... | ..... | ..... |
| Kelsey Wheel | ......... | 4,500 | ..... | ..... | ..... |
| Lee Tire | ......... | 41,175 | ..... | ..... | ..... |
| Met. Motors Co. | ......... | 2,825 | ..... | ..... | ..... |
| Motor Products Co. | 100,000 | 17,370 | ..... | ..... | ..... |
| Perlman Rim | 100,000 | 119,780 | ..... | ..... | ..... |
| Princess Motor Co. | ......... | 6,362 | ..... | ..... | ..... |
| Republic Motor Truck Co. preferred | ......... | 300 | ..... | ..... | ..... |
| Saxon Motor Car Co. | ......... | 102,226 | ..... | ..... | ..... |
| Stutz Motor Co. | ......... | 200,245 | ..... | ..... | ..... |
| Times Sq. Auto Sup. | ......... | 13,750 | ..... | ..... | ..... |
| Universal Motor Co. | ......... | 68,450 | ..... | ..... | ..... |
| White Motor Co. | ......... | 626,220 | ..... | ..... | ..... |