Other Annual Reports

[kaiserfrazerlibrary]

These are the rest of the annual reports covering the passenger car years.  1954 was the last Annual Report to present the automobile operations as a stand-alone business; 1955 was the first year of Willys Motors (a couple pages) in the first of the Kaiser Industries annual reports.

[Gordie]

For some reason 1951 seem to be the hardest one to find.  My 1945 issue has Joseph Frazer's business card stapled to it.  Ray Tomb's literature list has some different types listed.

[kaiserfrazerlibrary]

I've been collecting things K-F and a limited amount of Willys material for 40+ years.  While the 1951 Annual Report is hard to find, the hardest one to find (and the priceist of the lot) was the 1947 Annual Report.  I am guessing that the business about getting ready to release a third offering of new stock got a lot of potential investors interested to see just what the outside CPA's had to say about some of the company's astronomical profit statements covering the 4th quarter of calendar 1947.

According to court documents, it turned out that the outside CPA firm acknowledged that even they could not figure out what it was costing K-F to build cars in 1947 due in part to the reverse depreciation on equipment and other financial manuvering which was common in American industry during late 1946 and throughout 1947 due to postwar inflation.