Business & Finance: Willys-Overland Settlement

The contest (TIME, July 16) between a bank creditors' committee and the group headed by T. H. Tracy to secure the 739,866 shares of Willys-Overland common stock placed on sale through the receivership proceedings over the Willys Holding Company, has resulted in a victory for Mr. Tracy. His bid of $3,500,000 for the shares was accepted by Judge Knox, of the Federal District Court, largely because of clauses to the purchase which should protect other interested parties, such as the preferred stockholders and the Willys Holding Company.


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