HENRY FORD SUED
CLAIM FOR £1,500,000 AFFAIRS OF MOTOR COMPANY By Cable.—Press Association.—Copyright Reed. 10.8 a.m. NEW YORK, Tues. A message from Pontiac, Michigan, says that 2,000 stockholders in the old Lincoln Motor-Car Company, sued Henry Ford for £1,500,000, alleging that he failed to keep a verbal promise to buy their stock when he bought the company from the Federal Court receiver in 1922. The suit was filed by Henry Leland and his son, Wilfrid Leland, president
and vice-president of the original Lincoln firm, who were granted power of attorney by the stockholders to proceed against Ford. The complaint alleged that Ford bought out the Leland’s after a period of business depression, and agreed to co-operate with the elder Leland in reorganising the corporation, but instead it is alleged that Ford bought out the other stockholders, giving him control of the company, and then repudiated all agreements both with the Lelands and the minority stockholders. —A. and N.Z.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19271116.2.14
Bibliographic details
Sun (Auckland), Volume I, Issue 203, 16 November 1927, Page 1
Word Count
158HENRY FORD SUED Sun (Auckland), Volume I, Issue 203, 16 November 1927, Page 1
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