GENERAL MOTORS FINANCES
|Topics: General Motors, Chevrolet
The New York Times
February 24, 1918
Plan for Absorbing Chevrolet Company Indicated.
The plan under which the General Motors Corporation will absorb the Chevrolet Motor Company includes the sale of the 450,000 General Motors shares now held in the Chevrolet treasury. This was indicated yesterday by this announcement on the weekly bulletin of the Stock Exchange:
As required at the time of listing of the General Motors Corporation stocks, in the matter of the holding by the Chevrolet Motor Company of General Motor Corporation common stock, the following notice has been received:
"In accordance with the agreement entered into between Chevrolet Motor Company and the New York Stock Exchange, relative to giving sixty days' notice of the company's intention to dispose of General Motors common stock owned by it, notice is hereby given of the company's intention to dispose of the same in whole or in part.
"CHEVROLET MOTOR COMPANY,
"John F. Smith, Secretary."
The method of disposing of the shares could not be learned. The purchase by General Motors of the Chevrolet included, as announced Thursday, only the plants and other assets.
|Connect with The Crittenden Automotive Library|