STUDEBAKER, SON OF FOUNDER, DIES
Was Colonel in Spanish War---Lost Fortune in Insull Crash
SOUTH BEND, Ind., Aug. 27.--Col. George M. Studebaker, son of one of the five brothers whose wagonmaking blacksmith shop expended into the city's largest industry as an automobile manufacturing concern, died here today after a long illness. He was 74 years old.
The son of Clement Studebaker, a founder of the Studebaker Bros. Manufacturing Company and what is now the Studebaker Automobile Corporation, Col. Studebaker died virtually penniless.
ONCE WORTH $3,500,000.
At one time secretary of the wagon and buggy manufacturing company and later vice-president of the the automobile corporation, his wealth increased until in the latter part of the 1920's his fortune was estimated at $3,500,000. When the Insull utility empire crashed he lost heavily and from that time on his riches swindled rapidly.
In 1933 he filed proceedings in bankruptcy, listing debts of $2,500,000 and assets of $5,000. Before this he was forced to close a 64-room mansion, costing several hundred thousand dollars.
LIVED in RENTED HOME.
In the intervening years he and his wife had lived in a rented cottage. Col. Studebaker won his military title in the Spanish-American War. He was instrumental in organizing the 157th Indiana infantry, which became known as Studebaker's Tigers.
Surviving are the widow [the former Ada Mar Lantz, daughter of William C. and Harriet E. Lantz] and son, George M. Studebaker, Jr.
SOURCE: The Indianapolis Star (Indianapolis, Indiana) Monday, August 28, 1939, page 1. Transcription and editorial notes [in brackets] by S.A.Studebaker 9/17/17.
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MILITARY HISTORY: Capt. Co. F, 3rd Inf. Aug. 6 1887; Major 3d Inf., Jan. 15, 1891; Lieut.-Col., Dec. 20, 1892; Col., Mar. 25, 1897.
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Was Colonel in Spanish War---Lost Fortune in Insull Crash
SOUTH BEND, Ind., Aug. 27.--Col. George M. Studebaker, son of one of the five brothers whose wagonmaking blacksmith shop expended into the city's largest industry as an automobile manufacturing concern, died here today after a long illness. He was 74 years old.
The son of Clement Studebaker, a founder of the Studebaker Bros. Manufacturing Company and what is now the Studebaker Automobile Corporation, Col. Studebaker died virtually penniless.
ONCE WORTH $3,500,000.
At one time secretary of the wagon and buggy manufacturing company and later vice-president of the the automobile corporation, his wealth increased until in the latter part of the 1920's his fortune was estimated at $3,500,000. When the Insull utility empire crashed he lost heavily and from that time on his riches swindled rapidly.
In 1933 he filed proceedings in bankruptcy, listing debts of $2,500,000 and assets of $5,000. Before this he was forced to close a 64-room mansion, costing several hundred thousand dollars.
LIVED in RENTED HOME.
In the intervening years he and his wife had lived in a rented cottage. Col. Studebaker won his military title in the Spanish-American War. He was instrumental in organizing the 157th Indiana infantry, which became known as Studebaker's Tigers.
Surviving are the widow [the former Ada Mar Lantz, daughter of William C. and Harriet E. Lantz] and son, George M. Studebaker, Jr.
SOURCE: The Indianapolis Star (Indianapolis, Indiana) Monday, August 28, 1939, page 1. Transcription and editorial notes [in brackets] by S.A.Studebaker 9/17/17.
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MILITARY HISTORY: Capt. Co. F, 3rd Inf. Aug. 6 1887; Major 3d Inf., Jan. 15, 1891; Lieut.-Col., Dec. 20, 1892; Col., Mar. 25, 1897.
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STUDEBAKER, SON OF FOUNDER, DIES
Was Colonel in Spanish War---Lost Fortune in Insull Crash
SOUTH BEND, Ind., Aug. 27.--Col. George M. Studebaker, son of one of the five brothers whose wagonmaking blacksmith shop expended into the city's largest industry as an automobile manufacturing concern, died here today after a long illness. He was 74 years old.
The son of Clement Studebaker, a founder of the Studebaker Bros. Manufacturing Company and what is now the Studebaker Automobile Corporation, Col. Studebaker died virtually penniless.
ONCE WORTH $3,500,000.
At one time secretary of the wagon and buggy manufacturing company and later vice-president of the the automobile corporation, his wealth increased until in the latter part of the 1920's his fortune was estimated at $3,500,000. When the Insull utility empire crashed he lost heavily and from that time on his riches swindled rapidly.
In 1933 he filed proceedings in bankruptcy, listing debts of $2,500,000 and assets of $5,000. Before this he was forced to close a 64-room mansion, costing several hundred thousand dollars.
LIVED in RENTED HOME.
In the intervening years he and his wife had lived in a rented cottage. Col. Studebaker won his military title in the Spanish-American War. He was instrumental in organizing the 157th Indiana infantry, which became known as Studebaker's Tigers.
Surviving are the widow [the former Ada Mar Lantz, daughter of William C. and Harriet E. Lantz] and son, George M. Studebaker, Jr.
SOURCE: The Indianapolis Star (Indianapolis, Indiana) Monday, August 28, 1939, page 1. Transcription and editorial notes [in brackets] by S.A.Studebaker 9/17/17.
* * * * * * * * * * * * * * * * * * * * * *
MILITARY HISTORY: Capt. Co. F, 3rd Inf. Aug. 6 1887; Major 3d Inf., Jan. 15, 1891; Lieut.-Col., Dec. 20, 1892; Col., Mar. 25, 1897.
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Was Colonel in Spanish War---Lost Fortune in Insull Crash
SOUTH BEND, Ind., Aug. 27.--Col. George M. Studebaker, son of one of the five brothers whose wagonmaking blacksmith shop expended into the city's largest industry as an automobile manufacturing concern, died here today after a long illness. He was 74 years old.
The son of Clement Studebaker, a founder of the Studebaker Bros. Manufacturing Company and what is now the Studebaker Automobile Corporation, Col. Studebaker died virtually penniless.
ONCE WORTH $3,500,000.
At one time secretary of the wagon and buggy manufacturing company and later vice-president of the the automobile corporation, his wealth increased until in the latter part of the 1920's his fortune was estimated at $3,500,000. When the Insull utility empire crashed he lost heavily and from that time on his riches swindled rapidly.
In 1933 he filed proceedings in bankruptcy, listing debts of $2,500,000 and assets of $5,000. Before this he was forced to close a 64-room mansion, costing several hundred thousand dollars.
LIVED in RENTED HOME.
In the intervening years he and his wife had lived in a rented cottage. Col. Studebaker won his military title in the Spanish-American War. He was instrumental in organizing the 157th Indiana infantry, which became known as Studebaker's Tigers.
Surviving are the widow [the former Ada Mar Lantz, daughter of William C. and Harriet E. Lantz] and son, George M. Studebaker, Jr.
SOURCE: The Indianapolis Star (Indianapolis, Indiana) Monday, August 28, 1939, page 1. Transcription and editorial notes [in brackets] by S.A.Studebaker 9/17/17.
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MILITARY HISTORY: Capt. Co. F, 3rd Inf. Aug. 6 1887; Major 3d Inf., Jan. 15, 1891; Lieut.-Col., Dec. 20, 1892; Col., Mar. 25, 1897.
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