|Company||Flint Motor Company
|Certificate Type||Common Stock
|Date Issued||July 7, 1924|
|Printer||E. A. Wright Bank Note Company
11 1/2" (w) by 8 3/4" (h)
||Show the exact certificate you will receive|
The Flint Motor Company was organized by William Durant and began as a division of Durant Motors.
Around 1922, Durant was forced to resign as president of General Motors. In an attempt to maintain General Motors’ worth, he bought most of the General Motors stock to prevent bankruptcy. Durant then purchased 100 acres on South Saginaw Street to build the “Flint Six” cars which included sedans, roadsters and touring cars. The 1.5 million square foot building, the largest of its kind in the world at that time, was finally completed in October of 1923; however, the first car was manufactured the first of October.
In the first eight months of operation, the value of the company rose from the initial $5 million to an estimated $18 million. By 1926, the building proved to be too large for manufacturing operations. The same year General Motors purchased the plant for $4 million and became the largest of the Fisher Body plants.
After the sale of his building, Durant moved the Flint Motor Company to Elizabeth, New Jersey in an attempt to bolster his failing Durant Motor Company. The depression of 1929 completely wiped out the last traces of Durant’s companies. As a result, Durant lost $40 million.
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