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Henry Ford Tells How H Paid His Way Out. By James Sweinhart. On a late January afternoon .winter," a high powered motor, rolled up to the door of He Ford's home, in Dearborn, and stepped a banker, formerly of : troit, now connected with one of . biggest banks ,on Broadway. In answer to his ring the c swung wide and, a moment' la ; he was shaking hands with the nu manufacturer. This, banker according to Ford's associates, was the offi emissary of a group of wall sta banking interests, come to offer manufacturer a loan. '.'But I do . not need to bon money," Mr. Ford is reported have told him. "I can finance, my company's operations myself "I think not," the banker cor dently went on . "We know, y obligations, we know your cash : serves and we know you need mon Now I have written out here a p by . which we can assist y ot. I wo like to read it to you." The manufacturer is reported have told him his efforts would a waste of time and breath, but, he still wished to read his propositi he might do so-the manufactuj would do him the courtesy of liste ing. The reading went on for seve; minutes, then the banker, suddei breaking off asked: "Who's going to be the new trea ur er of your company?" The fora; treasurer had recently resigned. Ford and the Banker. "That makes no difference to yt does it?" the" manufacturer a ' swered. "Oh yes it does," the banker cai back. "We'll have to have some s as to who the new treasurer shall be That remark closed the intervi? "I handed him his hat ", says M Ford, "showed him where the do was and told him to take his thin, and get out'right quick. The ne time I saw Edsel I told him that, the future he was to be the treasur as well as president of the Foi Motor Cc." That meeting was the show.do-w in a situation which, developing f< months, had been watched with ir tense interest by industrial Americ During the previous summer and fa industry generally, the country ove had been gradually slowing down.*l Detroit, plant after plant had close down or reduced production to minimum. The number of unimploy ed was rising steadily. Everywher trrc^y - ? ss there ' w?s" "talk '?T**?Tr'r*bl?ck<' winter; Only.1 at the Ford Motor -Go. - produc ;\ tion rushed on unabated. With fu forces and three shifts a day it wa the "wonder plant" not only of De troit but of the whole country. ] engendered a strong feeling of con fidence in the community. Then in September the countr; was startled and electrified by an nouncement of a big cut in the prie of the Ford car. The company an . ! nounced that it made the cut in,an ticipation of lowered prices of ra-v materials in the future, that for ; time it must manufacture at a loss but that in the hope of hastening ? general return to the basic prices o: peace times, it would take its los: now-and it charged off to loa $17,000,000. That is it put a value of $88,000,000 on stock, raw ant manufactured, that had cost it $105,. 000,000, and continued full produc, tion on the new basis. Shutdowns Everywhere. In the weeks following Ford busi ness was appreciably stimulated, bul generally speaking, on both the lo cal and national basis, the closing down of industry went steadily on. N Then suddenly, oyen night it seemed, sprang up a host of rumors that even the Ford company was affected. Vague, intangible reports spread over the country that, due to the cut in price and other causes, grave financial problems now confronted the Ford company and, shortly, ' it must close down or go bankrupt or both. Reports ostensibly emanating in New York, Chicago, .London and about every place else except the South Sea Islands, and always "on highly credible authority," had it that Mr. Ford, his back to the wall, ' was making a supreme effort, using every resource at his command, to borrow money in every market at home and abroad-but always in vain; the end was not to be far off. And when early in December came an official announcement that, on Dec. 23, the great plant at Highland Park would close down "two weeks for inventory," in the popular mind, confirmation was given the rumors and, with a hundred variations, there seemed to be sufficient of fact behind them to get themon the news wires and thus they were carried to the ends *of the earth. Even sober, level-headed, businss men began to believe that within the Ford organ, izaation something fundamental was wrong. Two weeks passed but no re opening; and then announcement that . the time of resumption of operations was "indefinite." Wall Street ch ored that Ford was "broke" and i If the plant ever opened up ag they would be in new hands; 1 "Mr. Ford was ready to retire." Wall Street Learns. Just at this junction, according Mr. Ford's associates, different Y. banking groups sent represen tives to Detroit offering loans different terms. According to Ford, only one of these represen tives ever discussed such an ofi H e was the gentleman who i shown the door. In 20 minutes Vt Street found out very d?finit whether. Mr. Ford needed fu: Within ten days after that meeti post cards went out from the off calling 10,000 men back to their n chines. Within six weeks . more plant was again in full operati Since that time, with production 3 cords smashed almost weekly, company's increasing sales ?nd pi duction have become the marvel the industrial world. On July 4,461 cars were turned out in single day, total production for Ji will be close to 109,000 cars-a still, Mr. Ford says, production is i behind orders. What wrought this change? The answer is in two words quidation and economy. Ford did to his business what man prostrated by over-eating a ?drinking-he administered a ste regimen of fasting and diet. He sto ped buying. Then by turning all 1 stock on hand, rough and manufa tured, into cash and by eliminati every elentent and unit, throughc the whole vast organization, that c not produce, he forced his industi for a time, te live off its own fi He met his obligations, not by bo rowing money* and thus perpetuate numberless extravagances that h crept in during the war, but by d vising new methods of efficiency buying, in distribution, in admini tration and accounting and by elir inating waste. ,; Tell of the Storm. * The story of how Henry and E< sel Ford, with methods long planm to meet the coming storm, enginee: ed their industry into a position sui that there never was a mome: when it was pressed for ready cai for its needs, and thus, to the amaz< ment of Wall Street, "turned tl corner," is a kind ,of business ai industrial epic. Out at the plant of the Dearboi Independent, the other day,. M Ford |sat, coat 'off, watching a nev< ending procession, moving along tl roadway just outside, of mower hau?e?t by'tr??t?rs, orilth?ir ~way 1 and from the "harvest fields of h estate. The day was hot. He was re luctant to talk. "I'm thinking now of present an future," he said. "That financin matter is a thing of the past-let ; stay there." . ''But," some one suggested, "thei are. other plants, big and Ktth throughout the country, that to.da face the same problems you had they might be benefited by your ex perience." His* face brightened, then brok into a smile, as he said: . "Now you've said something, may be it would be worth while." Sf he sent for a lot of records an data illuminative of what was don by the company in the ten month just passed, and with this before hir said: "If there's anything in my expe. rience during the last year that wi] help anybody, they can have it righ off. My father used too say to me 'Never buy things until you nee? them; if you've got anything lyinj around that you don't need, sell it. I used to laugh at him-but now ] know he was right. Then, too, ther< are ways of meeting financial obli. g?tions other than borrowing money Increasing efficiency to gefr de. creased manufacturing costs, anc thus turning waste into dollars, that's one of them. As a general proposi tion, the time when you need it is a poor time to 'borrow money-tht man with the money can demand toe high terms." "Is there any one thing," I asked Mr. Ford, "to which you can ascribe your success in mastering all your problems-^- any basic formula or principle that I could express in a few words." Faith, the Solution. . "Oh, yes there is,"said the manu facturer, sitting up in his chair, very much interested now, and point ing his finger in emphasis. "Yes there is-you'll find the central idea of the whole thing in the Bible, in Hebrews, ll, 1 -Faith. 'Faith is the evidence of things hoped for- the evidence of things not seen., Faith is the thing that makes reality of what a man hopes for. I had faith that the country and conditions in our industrial world right themselves -- and they are doing it every day." The manufacturer gazed out of the window a moment, and then: "Our difficulties." he went on, "like those of other great plants, were a heritage of the war. War is VALVE-IN-HEAD (^Announcing The New Buick "Four" -A Thoroughbred Four, Completing the Famed Buick Line The "Buick Valve in-Head Engine A Vower "Plant Thai Has Proved itself 'Mle Y ' ' ' '.r,;-, i4 Great Car, Prices Make It An Even GreaterValue Prices 22-34 Two Passenger Roadster S 935 22-35 Five Passenger Touring - 975 22-36 Three Passenger Coupe - 1475 22-37 Five Passenger Sedan - - 1650 AU Pr?eu F. O. B. Flint, Michigan Cord Tires Standard Equipment en ail Models See Us for Sp?cifications and Delivery Dates The' new Four-Cylinder Buick, here announced, is a thoroughbred-a pedigreed car well worthy of its name. Down to the very last detail, this new model possesses every quality of enduring serviceability, complete comfort, and distinctive appearance that have always characterized Buick automobiles. The advent of this new Four makes the Buick 1922 line complete. It offers to purchasers of a car of this size all the quality and service that go to make up the name "Buick." The engine, of course, is of the time-testea1 Buick Valve-in-Head type. The year-after-year concentra tion of'Buick's engineering skill and experience in building,Valve-in-Head motors assures the highest standard of performance obtainable today. Every other unit is of a quality equal to the power plant. The whole assembly constitutes a perfectly balanced chassis which is bf typical Buick construction." The equipment of Cord Tires is merely evidence of the quality which characterizes the entire car. Two open and two closed body types mounted on the Buick built chassis comprise the new series. Even the most casual inspection of the details of design ' and workmanship will reveal that full measure of qual ity which motoristshave learned toassociate with Buick. Obvious^ a high grade automobile-a genuine Buick production-the prices listed below make this great Four even greater. A value such as this is possible only because of the combination of Buick engineer ing skill devoted to the one ideal of quality, Buick production facilities developed over nearly a quarter of a century, and Buick's nation-wide distribution and service organization. The Buick Motor Company is proud of the Buick Four. It has the faith of long experience in this newest addition to its line. It places upon it unre servedly the Buick guarantee carried by every Buick automobile produced. That its confidence is well placed is manifested not only by the keen interest with which motorists have awaited this announce ment, but also the advance orders placed by distri butors, dealers, and the general public. W. J. HATCHER Johnston, S. C. WHEN, BATTER AUTOMOBILES ARE BUILT-BUICK WILL BUILD THEM not only damnable for the lives it costs, but also for its after effects on society, on civilization. Every form of human activity is stimulated artificially. _ "Drink makes a man's senses keener-he sees, hears, and feels things that are not real, but abnor mal; he bases his actions on thoughts, ideas" annd impulses that are not sound. That's just what war does to business and industry. The banker, suddenly handling millions where be fore he handled but thousands, be comes loose and takes chances which formally he would have thought un sound. The manufacturer, faced by ever rising costs of materials, comes to take little heed to expenses and seeks only to make his price higher and higher to make profits over costs Labor, getting unprecedented wages, instead of increasing effort and pro duction reduces it, trying to get still higher wages. War, by its unwhole some stimulation, undermines every., thing. "Our organization suffered along with the rest. We took a lot of war work-Eagle boats, motors, helmets, tanks and other things. This opened up holes in our organization. W< needed help, office and shop, yet ir employing we could not be as fin el j j discriminating as we had been ir I peace times. An immensely increased [overhead expense was built up j stressed conditions seemed to compel ' it. In peace times it would be a dead weight, utterly useless. Consequent ly, with the war over, we knew that as the country settled back to peace conditions some stern readjustments would be necessary. It must come and we were on the lookout for its ?beginning. The Great Value of Milk to th? Human Family. Milk is the best food we have. .There is no substitute. Save on other things if you must, but not on milk. You cannot afford to do with out it-growing children especially need milk. Buy n+, least half a pint sf milk a day foi- each person in the household. No other food can take its place. Use it all; do not waste a drop. Milk looks like a simple fluid, but really it is very complex. A glass of milk contains a mixture of all the important things that maka up a mixed diet. One can get the same nourishment from milk as from a meal made up of meats and eggs, sugar and cereals, oils and fats, with salt and water. Milk is good fuel, because it contains fat and sugar. The body needs fuel to keep it warm and to make it move and work and play, just as the steam engine needs coal or the automobile needs gasoline. One quart of milk is about equal in fuel value to any of the following: 2 pounds salt codfish; 3 pounds fresh codfish; 4 pounds beets; 5 pounds turnips; 1/g pound bunter; % pound wheat flour; % pound cheese; % pound lean round beef; 2 pounds po tatoes; 6 pounds spinach; 7 pounds lettuce; 4 pounds cabbage; 8 eggs. One ordinary glass of milk is about equal in fuel value to: 2 large eggs;, 1 large serving of lean meat; 2mod_ erate sized potatoes; 5 tablespoons of cooked cereal; 3 tablespoons of boiled rice, or 2 slices of bread. This is a paragraph from a booklet on milk which is being distributed to the readers of the newspapers carrying che Haskin service. For years Mr. Haskin has been trying to get some one to finance the publi cation of such a book. For no other reason than to promote education, the Metropolitan Life Insurance com. pany has paid the cost of printing millions of booklets. It hos been prepared by Dr. Milton J. Rosenau, the man who is probably the worlds greatest authority on the subject. He was formally director of the hy_ genie laboratory of the United States Public Health Service, and is now. Professor of Preventive Medicine and Hygiene at Harvard University. The booklet can be secured by sending 2 cents in stamps to Mr. Haskin, at Washington, D. C.-Au gusta Chronicle. Hemstreet & Alexander 647 Broad Street Augusta, Ga. ' Dealers in Guns, Revolvers and Fishing Tackle. ' Repairing of Fire Arms, Bicycles,. Safes; etc Key Fitting a Specialty. Telephone 679 ? ' i ' i .