Business: Stewart-Warner-Alemite

To the motoring public Stewart-Warner used to mean only two things—speedometers and vacuum tanks. As patents expired and vacuum tanks gave way to fuel pumps, the name Stewart-Warner began to mean radios, refrigerators and cinema equipment. Depression stifled the market for these new products no less than for automobile accessories. By last year the outlook for Stewart-Warner was dismal indeed. Last week the company published its annual report for 1933 revealing a thoroughgoing house cleaning from products to personnel. While Stewart-Warner was slowly slipping, one of its subsidiaries, which is better...