WILFRED C. LELAND - PROMISSORY NOTE SIGNED 03/29/1921 CO-SIGNED BY: HENRY M. LELAND - HFSID 250719
CADILLAC & LINCOLN CARS: WILFRED & HENRY LELAND Partly Printed DS: "W.C. Leland" as Vice President of Lincoln Motor Co. and "Wm. T. Nash" as Treasurer, 1 page, 8½x3½. Detroit, Michigan, 1921 March 29.
Sale Price $1,360.00
CADILLAC & LINCOLN CARS: WILFRED & HENRY LELAND
Partly Printed DS: "W.C. Leland" as Vice President of Lincoln Motor Co. and "Wm. T. Nash" as Treasurer, 1 page, 8½x3½. Detroit, Michigan, 1921 March 29. Promissory note for $250,000, payable to William H. Murphy. Due three months after date. Endorsed on verso: "Henry M. Leland", "W C. Leland", "Wm T. Nash", "John Trip", "Joseph Boyer" and "William H. Murphy". HENRY LELAND was well known in the automotive industry for his precision engines and his management of Cadillac Automobile. He started his association with Cadillac in 1902 and eventually took over its management. His only son WILFRED C. LELAND, who had hands on machinist experience, partnered with his father throughout the elder Leland's automotive career. In 1909, General Motors acquired Cadillac and made the elder Leland president of the division with his son a division executive. The Lelands left GM and established the Lincoln Motor Company in 1917 to build airplane engines for WWI fighter planes. After the war, the company converted production to the making of "precision-made Lincoln automobiles". Henry Leland named the company after his idol, President Abraham Lincoln. The postwar recession forced Leland to sell his Lincoln Motor Car Company in 1922 to Henry Ford, who had plans for it being the luxury car division of his product line. Henry Leland remained with the Lincoln Motor Company until later in 1922, resigning when Ford asked Leland's son, Wilfred, to leave. Lightly creased, soiled and worn. Nicked top edge with tape remnant on front. Lines drawn through endorsed signatures on verso. Revenue stamps on verso.
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