Just before Reo Motor Car Co.'s annual meeting three years ago an Independent Stockholders' Committee started a proxy battle to oust the management because of mounting deficits. The attack fizzled when Reo's onetime President Richard Hugh Scott decided that he wanted no feud with old Chairman Ransom Eli Olds. In 1935, increased success with Speed Wagons and heavy duty trucks enabled Reo to finish the year with a deficit of only $220,000, a reduction of $738,000 from 1934. But last year the deficit swelled to $1,399,000. This included $605,000 for extraordinary expenses occasioned...
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