HUDSON MOTOR CO. PROFITS
The New York Times
December 28, 1922
Net Income for Year Ended Nov. 30 Is Shown as $7,242,677.
The Hudson Motor Car Company for the year ended Nov. 30, 1922, reports gross profits of $12,631,276, and net income, after depreciation, interest and taxes, of $7,242,677. This is equal to $6.03 a share earned on the 1,200,000 shares of no par value stock outstanding.
Roy D. Chapin, President of the company, in his remarks to stockholders said in part:
"The fiscal year 1922 has been the most successful in our history. This applies not only to earnings, but to the development of our product to a high point, and to its manufacture on a basis of unusual value to the buyer. Our sales for the year show a total of 26,271 Hudson cars and 34,962 Essex cars. Our cars are being shipped to all parts of the world.
"In May last the company was reorganized to permit of public participation in a certain portion of its stock. We now have a large number of stockholders spread throughout the United States, thus insuring an additional friendly interest everywhere in the Hudson and Essex products."
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