Ford vs. Leland

The supposedly friendly relations between Henry Ford and Col. Henry M. Leland were shown to be anything but amicable by a recent letter which Col. Leland has sent out to Lincoln Motor stockholders.

About two years ago, the Lincoln Motor Co., headed by Col. Leland, was forced into a receivership. After endeavoring to interest several wealthy interests, the Lelands at length went to Henry Ford. An agreement was arrived at between them, whereby Ford acquired the Lincoln plant, leaving Col. Leland in charge of it and apparently agreeing to indemnify approved creditors and stockholders.

Col. Leland now complains bitterly that Mr. Ford has not lived up to his part of this agreement. Leland's control of the plant, he declares, has been interfered with by Ford agents, and while Ford has paid $4,000,000 to the Lincoln's approved creditors, he has done nothing for the Company's stockholders.

Col. Leland's statement cites the many times he has tried in vain to see Mr. Ford to straighten out the tangle, and flatly declares that the latter has openly refused to fulfil his part of the agreement. This attitude on Mr. Ford's part is attributed by Col. Leland to a desire for revenge; in 1902 Henry Ford was dismissed from the Detroit Automobile Co., in which Col. Leland, a pioneer in the industry, was a prominent factor. Leland disclaims any part in Ford's dismissal, but he states that Ford had declared, "I wouldn't sell the Lincoln plant for $500,000,000. I had a purpose in acquiring that plant and I wouldn't think of letting it go." Ford's investment in the plant would not amount to more than $17,500,000, Leland declared, even if all creditors were paid off, and all qualifying stockholders settled with in full.

As yet Mr. Ford has not replied to Col. Leland's personal, attack upon him, and it is generally supposed that the veteran automobile maker will take his grievance to the courts, to force at settlement with the Fords.