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STUDEBAKER NOW
BANKRUPT
Tragic Fall of Huge
Fortune
(Special to 'The Daily News)
NEW YORK. November 1.
Colonel George Studebaker has filed
a petition in bankruptcy, showing the
rise and tragic fall of one of Ame
rica's great fortunes.
The forbears of the ureseirt fainilv
started with a small waggon factory 100
years ago in Southbend, Indiana. The
millions made in the famous motor cars
finally vanished during the last three
years.
The family was recently caught in the
terrific collapse of the Insull Utilities.
The bankruptcy petition shows his lia
bilities as 2 million dollars (£400.000),
with the assets only 35 dollars cash.
$