MILLIONAIRE BANKRUPT
ASSETS ONLY £SO | NEW YORK, Fob. 10. j Mr. William Durant, one of America’s greatest captains of industry, who made | and lost fabulous fortunes in the motor ; car trade and stock market speculations, filed his petition in bankruptcy yes ter- 1 day. He admitted that his only re- ' maining assets consisted of £SO worth of wearing apparel. j Ilis liabilities are given as approxi- I mately £200,000, mostly obligations to stock brokerage firms. '- . i' Mr. Durant, who is 74, started in life, as a grocery clerk. He was one of the ■ first men who foresaw the coming popu- ,: laxity of the “horseless carriage,’’ and ’ in 1905 organised the Buick Company, i in later years acquiring control of the mighty General Motors Corporation, of which the Buick is now an associate company. Twice he was wiped out by the 1 market and twice he staged astonishing comebacks. By 1929 he had become one of the richest men in the country. I
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Bibliographic details
Poverty Bay Herald, Volume LXIII, Issue 18975, 27 March 1936, Page 16
Word Count
162MILLIONAIRE BANKRUPT Poverty Bay Herald, Volume LXIII, Issue 18975, 27 March 1936, Page 16
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