Living Through The Last Market Crash

He began working to help support the family when he was a teen-ager. As a young man he had to help support the family and worried about getting enough money to buy clothes for them. He said that despite hard times, a clothing store owner gave him a break.

"I told him i would need a lot of stuff and was trying to get money enough ahead . He said come and get whatever you want and pay me when you can," recounted Devereaux.

Several successful selling positions led him into the emerging automobile sales business.

At 21 he became one of the youngest chrysler car dealers in the country. But after the crash of 29 banks had little money to loan for new cars.

Said Devereaux: "Originally there was no money for financing an automobile and banks looked at you as if you were crazy if you wanted to borrow money for a car. That was a hard time in the automobile business."

To purchase a car during the Depression you needed up to a 50 percent down payment. Some people had to trade in their furniture for a down payment.

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