MR WILLIAM C. DURANT
Rec. 8 p.m NEW YORK, Mar. 18. The death has occurred of Mr William Crapo Durant, founder of the Durant Dort Carriage Company in 1886. He also organised the Buick Motor Car Company, and by 1909 he had secured the controlling interest of General Motors Company. At one time Mr Durant had accumulated 90,000,000 dollars, but he lost almost all in the stock market panics of 1910, 1920, and 1929. His bankruptcy petition in 1936 listed his: assets at 250 dollars and his liabilities at 914,231 dollars. In the ,'.slump,. General Motors stock tumbled from 400 to 12 dollars a share. Mr Durant’s resignation followed after he had spent 90,000,000 dollars in a vain effort to halt the plunge. When he heard that Mr David Buick, the designer of the Buick car, had been shelved without compensation, he gave him a cheque for 10,000,000 dollars.
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Otago Daily Times, Issue 26415, 20 March 1947, Page 8
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149MR WILLIAM C. DURANT Otago Daily Times, Issue 26415, 20 March 1947, Page 8
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