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the Cessna Company, with its new factory, was greatly in debt with no sales department. Cessna refused to give up and continued to sell a few planes occasionally. The glider movement showed some signs of life, so he brought out a simple, well-built primary type selling for $398.00. Company records for 1930 show that 84 of these were sold. At the same time Cessna developed a 2-seat, side-by-side, high-wing, light-sport monoplane, powered by Aeronca, 2-cylinder, 30-horsepower engine, but it was never put into production. The company continued through 1930, selling a few planes and gliders, but by January, 1931, they were in real financial difficulties and the Board of Directors met to decide about the future of the company. Cessna pleaded not to close the plant, but a new Board was elected and he was out of the firm. Heartbroken, he turned in his keys and left, but he was not through. With his son Eldon, a shop was established in Wichita, called the C.V. Cessna Aircraft Company, and there during 1931-1933 they built special racing planes to [[strikethrough]] the [[/strikethrough]] order [[strikethrough]] of [[/strikethrough]] for nationally; known pilots for competition flying. The original Cessna Aircraft Company had never formally gone into bankruptcy, but rented the buildings to keep the company solvent until they might be able to resume plane production. In 1933 Cessna's nephew, Dwane Wallace, a young graduate aeronautical engineer, approached him about reopening the plant to resume building planes. Cessna told him, "You get me back in as President and we will do it." After much manipulation Wallace succeeded in bringing about a new election of officers and on January 10, 1934, Cessna was reelected President. Roscoe Vaughn was Vice President, Dwight Wallace was Secretary and Treasurer, and Dwane Wallace was Plant Manager. New planes were designed and revisions made on some of their former types but business was slow and it was a tough, hard struggle through the next two 6
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