PROFIT FROM RAILWAYS
HENRY i'CHIPS VENTURE WASHINGTON, Jam 8. Henry Ford’s only venture int 0 the railroad business brought .him a profit of U2.vSUO.tKXI. the Senate Rail Inquiry Committee was informed yesterday as. the motor magnate’s son, Mr Kdsel Ford, who also was in on tiie de.n, appeared to recount events preceding the sale. The Ferds bought the then dilapidated Detroit, Toledo andi Iron toil Railroad at • a receivership sale in 1920, paying £2.600,000 for ‘ it, and nine years later, after spending £l,800,000 to put it on a paving basis, sold it to the Penn road Corporation for £7,200,000.
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https://paperspast.natlib.govt.nz/newspapers/OPNEWS19380318.2.4
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Opotiki News, Volume I, Issue 12, 18 March 1938, Page 1
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99PROFIT FROM RAILWAYS Opotiki News, Volume I, Issue 12, 18 March 1938, Page 1
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