BUSINESS PURCHASE.
DEAL BY MR. HENRY FORD. REPLY TO THE STOCKHOLDERS. A. and N.Z. DETROIT. Nov. 38. In a statement Mr. Edsell Ford denies that his father, Mr. Henry Ford, promised the stockholders in the original Lincoln Motor Company to reimburse them for the losses suffered when Mr. Henry Ford bought the firm in 1922 for £1.600.000. The. statement says: ''We bought the assets of the old Lincoln Company from the receiver appointed by the United States District Court. No conditions were attached to the transaction, and- no obligations were imposed upon us to pay the stockholders or the creditors of the old concern. " A fair value waS paid to the receiver for the property, and we voluntarily paid all the general creditors, involving an additional amount of over £BOO,OOO, purely out of generosity." Two thousand stockholders in the old Lincoln Motor-car Company sued Mr. Henry Ford for £1,200,000, alleging that lie failed to keep a verbal promise to buy their stock when he bought the company from the Federal Court Receiver in 1922.
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https://paperspast.natlib.govt.nz/newspapers/NZH19271121.2.68
Bibliographic details
New Zealand Herald, Volume LXIV, Issue 19799, 21 November 1927, Page 9
Word Count
174BUSINESS PURCHASE. New Zealand Herald, Volume LXIV, Issue 19799, 21 November 1927, Page 9
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