Durant Drama

In April 1927, William Crapo Durant, founder and for two terms controlling power of General Motors, bought advertising space in the daily newspapers, published therein the statement that he had resigned from several directorates to devote his full time and attention to Durant Motors Inc.

Last week William Crapo Durant called to Manhattan 500 Durant dealers and distributors. "First," said he, ''Do you believe in W. C. Durant?" Five hundred men rose up, boomed loyally: "Yes." "Second, do you believe that W. C. Durant would be unfair or unjust ... to men who have been loyal to him for years . . . through every trial?" The Durant legion shouted denial. Then Mr. Durant announced he would quit the presidency (not his stock control) of Durant Motors.

The valedictory made provision for the future: "a new group of executives to become heavily interested financially, to take over complete management." The valedictory mentioned the need of recreation, leisure, mentioned mysteriously an engineering project at New Brunswick, N. J., a Durant-controlled rayon plant in Virginia, other "interests," in all, "35 times greater than Durant with all its plants."

In a pamphlet-message "to my many dealers, my many friends, and my loyal associates," Mr. Durant denied vigorously that the resignation from active management meant giving up financial control of Durant or any other motor company. Dealers, friends, etc., recalled that William Crapo Durant had only recently bought full control of Locomobile Co. of America, that only last week he had bought a large, but not quite controlling interest in Paramount Cab Manufacturing Co.