In 1920, the Dodge brothers (John, who skippered yachts; Horace, who played the violin and the organ) died almost simultaneously, and the great Dodge Brothers Automobile Co. was inherited by their widows. The latter awaited a favorable opportunity to sell it. They insisted on payment in cash. General Motors, through J. P. Morgan & Co., offered $124,650,000 worth of that commodity. But a banking syndicate headed by Dillon, Read & Co. of Manhattan offered $146,000,000 and the widows promptly accepted. The transaction is said to be the largest single cash transfer of...
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