Business: Ford & Soviet

With international financial circles still agitated over last week's agreement between Ford of Germany and the German I. G. F. Dye Trust, Continentalist Ford announced a $30,000,000 deal with Soviet Russia. Soviet and Ford representatives signed a contract providing that a Ford plant with a capacity of 100,000 cars a year should be built at Nizhniy Novgorod (between Leningrad and Moscow) and that $30,000,000 of Ford products should be purchased within the next four years. Thus Ford-General Motors competition has been extended to Russia (and Asia) where the Ford Novgorod plant will compete with General Motors establishments at Warsaw, Stockholm...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!