Business & Finance: Studebaker Up & Out

Studebaker Corp. was not the first motor casualty of Depression but it was by far the biggest. The venerable South Bend, Ind. concern which Clem and Harry Studebaker founded as a wagon works in 1852, was brought low not by the usual affliction of reduced sales, but by a legal snarl over a mid-Depression effort to expand. In 1932 Studebaker purchased White Motor Co. (trucks) only to have the deal blocked by minority White stockholders. Upshot was a receivership. Last week it looked as if Studebaker would be both the first motor maker to...

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