Business & Finance: Dodge Motors

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...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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