Business & Finance: Old Timers

Along Washington's Constitution Avenue last week chugged a strange procession of autos. Spectators gawked at their acetylene lamps, buggy whips and duster-clad drivers. The parade of 212 ancient chariots, lovingly preserved by old-car buffs, was the American Automobile Association's way of celebrating its golden jubilee, and its growth from just nine motor clubs in 1902 to today's 750 clubs and 3,700,000 members. Among the standout cars:

¶The first Cadillac, with a one-cylinder, watercooled engine. It sold for $850 in 1903, less than a Ford at the time.

¶The 1903 Oldsmobile, with a snappy curved...

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