A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors


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  Part III-Chapter 13 : Automobile and Aviation  > W. C. Durant  :     Previous   1 - 2 - 3 - 4 - 5 - 6 - 7 - 8 - 9 - 10
                                                                                                                                                     
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   William Crapo Durant - losing control to bankers

Page entitled : Durant lost control of GM to banking syndicate in 1910

Content of this page is about :
How a syndicate of four banks led by James J. Storrow of Lee, Higginson & Co proposed a rescue loan to General Motors and imposed a steering committee


Extract :
... After a lengthy discussion, from which Durant was excluded (but not Wilfred Leland), J. & W. Seligman (New York) and Lee, Higginson & Co (Boston) syndicated a $15 million loan for General Motors ...

 

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