Word: edsels
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...While his son Edsel was making banking news last week (see p. 42), Henry...
...banks never should have been closed, that they were and still are solvent, that Manhattan bankers, Senator Couzens, the R. F. C. or rival motor makers had stupidly if not maliciously kept Detroit from getting back her banks. Three weeks ago the one-man grand jury recessed to give Edsel Ford a chance to negotiate in peace for formation of a new bank. Last week it recessed again with news that he had virtually succeeded...
...then to have put up $8,250,000 and with the aid of bank loans from Manhattan and R. F. C. replaced closed First National and Guardian with two new banks. That plan failed because Manhattan refused to do its part. Last week's plan was less ambitious. Edsel Ford and associates raised capital with which to merge four suburban banks (Highland Park State Bank, Peoples Wayne County Bank, Guardian Bank of Dearborn, Dearborn State Bank). The R. F. C. agreed to lend $17,000,000 on the assets of the four banks, also to lend...
...Currency. John Ballantyne, one-time chairman of the First National, was selected as president. The board of directors included Alex Dow, president of Detroit Edison Co., George R. Fink, president of National Steel (maker of much automobile steel), Murray W. Sales, Wesson Seyburn, Clifford B. Longley (Ford attorney) and Edsel Ford. Many a time in the past has Henry Ford, dissatisfied with purchasing this material or that, undertaken to manufacture it himself. Often has he expressed his dissatisfaction with bankers-as tyrants over business, as reckless wasters of their depositors' money. On the new bank board Henry Ford...
Next to Henry and Edsel Ford, the Czechoslovak family of Bat'a (pro- nounced Bahtya) continue to be the world's most vigorous "Fordizers." Fifty-seven years ago the spouse of a poor cobbler in Zlin bore Thomas Bat'a. In a heroic life of mechanized striving he made Zlin the "Shoe Capital" of Europe. Because, like Henry Ford, he profoundly mistrusted financiers, Thomas Bat'a took fanatical care to remain the First Working Partner in a partnership which embraced all his employes. No one outside the partnership may own Bat'a stock. In Zlin...