CORPORATION IN STRAITS |
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| Topics: International Motor Company
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The Washington Herald
October 7, 1913
International Motor Company Wants Additional Working Capital.
New York, Oct. 6.—Stockholders of the International Motor Co. will be asked to decide whether the company shall be permitted to raise $1,200,000 additional working capital, either by means of a mortgage or through an issue of debentures.
"Unless the money is raised," said John Calder, president of the company, "it probably will mean that the company will have to cut down its operations, or perhaps in the end go into liquidation."
Mr. Calder indicated that earnings had fallen off considerably in the past year. The dividend on the company's preferred stock was passed some time ago.