JOHN J. RASKOB - AUTOGRAPH 1935 - HFSID 23451
Price: $100.00
JOHN J. RASKOB
Ink signature on a slip of paper
Signature: "John J. Raskob/1935", 5x2¾. Ink caption (unknown
hand). John Jakob Raskob (1879-1950) was hired by Pierre DuPont in 1901 as a
personal secretary, and became DuPont Treasurer in 1914. Without leaving
DuPont, he became General Motors' VP for Finance in 1918. (DuPont then
owned 43% of GM's stock.) He created the General Motors Acceptance
Corporation (GMAC) to finance car purchases. Extremely bullish on the stock
market throughout the 1920s, Raskob declared that every American could get rich
by investing $15 per month in common stocks. In 1928 Raskob, a strong
supporter of New York Governor Alfred E. Smith's Presidential bid, became
Chairman of the Democratic National Committee. GM President Alfred Sloan, a
Hoover supporter, then demanded Raskob's resignation from GM. Franklin Roosevelt
replaced Raskob as Party Chairman, and Raskob - like Al Smith - became a
vocal opponent of Roosevelt's New Deal. Raskob's next project was
completing and running the Empire State Building, then the world's tallest
building, completed in 1931. Raskob remained with DuPont until his retirement in
1946. Toned at bottom edge. Bottom edge lightly frayed. Creased. Ink note
(unknown hand) above pencil signature. Otherwise, fine condition.
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