Ogden Standard-Examiner | 1923-07-24 | Page 2 | Willys Bids for Company

Will YS BIDS FOR COMPANY Stockholders Make Cash Offers for Overland Organization N Y July 24 24 Control of the Overland company was sought by two groups gro ot of stockholders In federal court Monday when bids were received by b Judge John C Knox for about shares of stock In the Willys corporation which is In the tho th hands hands 0 The highest cash bid was 3 3 but Judge Knox was also Interested In one for tor which provided certain advantages s for Cor the first preferred stockholders The bid of 3 BOO was from a 0 group of stockholders represented by a commission of bond creditors This offer otter was favored by laWers law era appearing for the credits The bid of and other consideration was made by Thomas ThomasH H Tracy on behalf of a group headed by John N Willys FAVOR WILLYS PLAN PL The hearing was adjourned with will decision decision by Judge Knox who saId the Tracy group would be given an opportunity to Increase the mount amount of cash otter offer In the Tracy bid of 3 3 3 It Is stipulated that all profits on the disposition of the tho stock In excess of 2 a share be b distributed among the cor- cor corporation corporation cor corporation stockholders and that the plan for the disposition of the l k be first approved by Joseph P Cot Cot- Cotton Cot Cotton ton tori counsel for the first preferred Willys corporation stockholder and by John N Willys and also approved by the district courts of I southern New York and northern distrIct of Ohio western division