Print, Photographic

Black and white photographic print of a Packard Motor Car Co. newspaper clipping, dated 4-24-34. The article reads as follows:
"Detroit - Packard Motor Car Co. reports for quarter ended March 31, 1934, net loss of $1,257,021 after taxes, depreciation, etc., against net loss of $1,131,823 in first quarter of 1933.
A substantial part of the March quarter's loss was due to the increasingly extensive program of experimentation and development undertaken for the purpose of broadening the Packard market and proving fuller use for the manufacturing facilities of the plant. This is planned in order to take advantage of the increasing demand for cars in the low-priced brackets which is apparent during and subsequent to periods of business depression. Development work on the new car for the lower-priced field non-competitive in price with the established Packard car is continuing actively, but no introduction date has been forecast."