HENRY M. LELAND - DOCUMENT SIGNED 03/08/1921 CO-SIGNED BY: WILFRED C. LELAND, WILLIAM T NASH, WILLIAM H. MURPHY - HFSID 284933

HENRY M. LELAND AND THE SALE OF LINCOLN MOTOR CAR COMPANY
(1843-1932) American automobile manufacturer, designer and engineer, a founder and first president of Cadillac and a critical element in obtaining bank financing for fledgling General Motors. Leland also introduced the first electric starter. In 1917, Leland and a group of investors founded Lincoln, building highly-engineered, solid cars which unfortunately bore outdated styling and were difficult to sell in a recession. By 1920 the board was facing the dissolution of the firm. We offer what could be considered the beginning of the end for Henry Leland and his company, a letter from the board of Lincoln advising their representative to approach William C. "Billy" Durant, the founder of General Motors (whom Leland had saved years earlier), to purchase their firm. The 1p. 4to. letter is on William H. Murphy letterhead, Detroit, Mar. 8, 1921, addressed to JOHN H. EMMERT. It reads, in full: "We hereby authorize you to take up with Mr. W. C. Durant the question of sale of control of the Lincoln Motor Company (a Delaware Corporation) and agree to be bound by any arrangement you make with him according to the understanding we have had with you". At bottom the directors sign, including HENRY M. LELAND, his son WILFRED C. LELAND, longtime Cadillac and Lincoln financial officer WILLIAM T. NASH, investor WILLIAM H. MURPHY who in 1902 had hired Leland to assess young Henry Ford's Henry Ford Company, resulting in Ford's resignation in disgust and a change of name to Cadillac, and two others. Very good to fine condition. Of course, Durant and G.M. declined the offer, and within months Lincoln was in receivership. Now Henry ford saw his opportunity to not only obtain a bargain but to wreak revenge as well. He purchased the company for a pittance, promising to keep the Lelands in control. Yet two weeks later, on Henry's 79th birthday, Ford men started their "remodeling" of the plant by dismantling the Lelands' executive offices, implemented the use of parts previously rejected as substandard, and demanded the Lelands' resignations. It was only after the Lelands were dispatched and Edsel Ford took over that the line was restored to some semblance of its former quality.
1 page, 8½x11. Horizontal and vertical fold creases. Corners worn. Lightly toned and soiled. Otherwise, fine condition.