AUTOS: K-F Takes Over

The automaking partnership between the Kaiser-Frazer Corp. and the Graham-Paige Motors Corp. was lopsided from the start. Newborn K-F quickly raised $53,000,000 in two stock issues. But old, financially queasy Graham floated only $11,500,000 in bonds to finance its part of the venture. By last week production delays had so cut into this cash that Graham could not go on without help.

The help came from K-F. Under a plan which Graham stockholders are expected to approve, K-F will take over Graham's bonded indebtedness, most of its assets and its automaking (i.e., production of the Frazer). Graham will make only...

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