(3 of 3)
A family company for years, Studebaker is now widely owned. Its first financing was handled by Goldman, Sachs & Co., and now a member of Lehman Brothers sits on its board. Best known members of the profuse Studebaker family at present are Col. George Studebaker, son of Founder Clement Studebaker, and his brother Clement. Neither is connected with the company. Wealthy Col. Studebaker founded South Bend Watch Co., Studebaker Mail Order Co. (watches) and has been "angel" to Colin B. Kennedy Corp. (radio). His brother showed a flair for utilities, is president of North American Light & Power Co. (Insull sub-sidiary—See below).
*Widely rumored last week was a manufacturing and sales agreement between International Harvester's truck department and Willys-Overland Co. Possible result: a $400 car to sell to farmers through International Harvester's 200 branches.