Business: Universal Finance Co.

To discount the promissory notes of Ford motor car buyers, as General Motors Acceptance Corp. has discounted billions of dollars of G. M. C.-made cars, Detroit bankers were busy last week organizing the Universal Finance Co. It will get its chattel money from and through the Guardian Trust Co. of Detroit and its affiliated Guardian Detroit Bank (in Detroit) and Guardian Detroit Co. (security house in Manhattan). Among directors of the Guardian Trust of Detroit are potent motor car makers:

Edsel Ford, president, Ford;

Alvan Macauley, president, Packard;

Frederick J. Fisher, vice president, General Motors;

Roy Dikeman Chapin, chairman, Hudson;

William Ledyard Mitchell, general manager,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!