Business: Studebaker

The Studebaker Corporation for the year ending Dec. 31, 1923, did very well by itself. Net sales were about $33,000,000 greater than in 1922, though expense, depreciation, etc., grew almost as much; the result was that net earning last year were $20,307,804, compared with $20,043,957 the year before, and $23.60 per share as against $23.21.

In his report, President A. R. Erskine called attention to the steady increase in sales of Studebaker cars: 39,356 in 1919; 51,474 in 1920; 66,643 in 1921; 110,269 in 1922; 145,167 in 1923.

The common stock, consisting of 750,000 shares,...

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