OPPOSE FORD RAIL LEASE.
|Topics: Ford Motor Company
The New York Times
December 6, 1922
Decision Reserved In Action to Hear Stockholders Before Suit.
Justice Gavegan in special term of the Supreme Court yesterday reserved decision in the application of Leon Tanenbaum, representing minority stockholders in the Detroit, Toledo & Ironton Railroad, for an examination prior to the trial of a suit against Henry Ford to restrain the company from executing a lease for seventy-five years to the Detroit & Ironton Railroad. This latter company was organized under the laws of Delaware by Henry and Edsel Ford, who own almost the entire stock.
Tanenbaum, who alleges that he invested $10,000 in the old company, charges that the lease to Ford interests would deprive the minority stockholders from sharing in any of the profits that might be derived from the lease.
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