FORD STOCKHOLDERS

Shannon News, 1 March 1927, Page 4

FORD STOCKHOLDERS

STATE CLAIMS £6,000,000 TAXES ALLEGED TO BE DUE On Tuesday the United States Government will open a suit for the purpose of collecting £6,000,000, alleged to be overdue profit taxes from nine eriginal stockholders in Eord Motoss, who sold their holdings to Henry Ford himself in 1919 for £15,000,000. No legai action ever launched in America approaches this case for the vastness of the financial, political and human drama to be unfolded. The colossal sum involved reflects the amazing success of the Ford Corporation with a capital of £20,000,000 of which only a quarter is paid up. These nine shareholders have already paid £4,000,000 in taxes. The pnesent action tave been brought to secure the claimed balances over a period of years. From Senator Couzens, who was Ford's head accountant in the earliest years, the Government claims a sum of £2,000,000. In this, the biggest tax case ever known, Mr. Alexander Gregg t aged 27, is to be the leading counsel for the Government, and he will be opposed by the most trillianx lawyers available in America Mr. Couzen s originally invested £3,000, and collected dividends exceeding £2,000,000. He sold out to Henry Ford for £5,600,000. Mr. Couzens had a sister, Rozetta Hauss, and her investment of £IOO had unparalleled results. She backed Henry Ford's wild dreamy clinging to her single share through thick and thin. The Government collected £36,000 in taxes from her, and demands £16,000 more. From Mrs. John Dodge, now Mrs. Wilson, the richest woman in the world, the Government seeks an additional £1,000,l>oo. . ....;,._, L^L