GENERAL MOTORS PURCHASE

The New York Times
December 29, 1922

Acquires All Outstanding Stock of Brown-Lipe-Chapin Company.

The General Motors Corporation has acquired all the outstanding stock of the Brown-Lipe-Chapin Company of Syracuse, N. Y., according to a statement issued by Pierce S. du Pont, President of the General Motors Corporation.  The company, which is credited to be one of the largest manufacturers of differentials and gears in this country, was organized in 1910.  Since that date General Motors Corporation has held a considerable interest in the company.

H. W. Brown, who since the company started business has been the General Manager, has been elected President to succeed A. T. Brown.

The company has an authorized and outstanding capital stock of $1,500,000, all of which is now owned by General Motors.  It has no funded debt, and dividends ranging from 20 to 30 per cent. annually have been paid during recent years.