New-York tribune., 1910-03-11
OWN AUTO MAKERS
NEW Plan OF WALL
STREET MEN.
Company Formed to Build
Cars for Its 100 Members
and Nobody Else.

Every f1nancier his own automobile
manufacturer is the latest thing in Wall
Street. The first step In this direction
it became known yesterday, has been
taken by the formation of an automo-
bile manufacturing company by one
hundred of the leading bankers, brokers'
railroad and other men prominent in the
financial district to make cars only for
their persona, use.
The company is known as the Orson
Automobile Company. though why that
name was chosen could not be learned
II was incorporated under the laws OF
this state with nominal capital of SO.
600. The names OF ths officers have not
been made public but il is understood
they are not Wei; known in the financial
world and are or.y nominal.
The company will have n factory at
Springfield. Mass. and as soon as pos
sible one hundred machines Will he
turned out. to be purchased at the actual
cost OF manufa cture by the men asso-
ciated In the movement
After Ali Supplied. Whatf
What vii! happen to the company after
each of the hundred has obtained his
automobile has not been decided, &C
cording to one of the men interested
He said. however, that if the machines
turned out to be the success that was
expected there was probability that
their manufacture would he continued
for the benefit of others who might wish
to join the "every-financier- -his-ows- au-
tomobile- movement, ano
that when all of these had been supplied
il might be found desirable to continue
the manufacture of the cars for the
trade
Among the one hundred organizers OF
the company are Frank A. Vanderlip
president of the National City Bank
Alvin W. Krech, president of the Equi-
table Trust Company; Henry O. Have
meyer. jr., Charles G.. Gates, Percy A
Rockefeller, Richard Sutro, Myron /
Herrick, Horace NJ. Kilborn, Yice-presi-
dent of the National City Bank: William
H. Seaich, a director of the Fifth Ma
tional Bank, and John F. Harris, heac
of the Stock Exchange firm of Harris
Winthrop & Co.
The names of the others have not
been revealed, but it is said they include
members of the Standard Oil Company
bank presidents, governors of the StocF
Exchange and others of prominence IL
the financial district.
According to one of the men interest
cd, the idea of manufacturing their Owl
n ly1ly n
who had studied engineering and had I
desire to build II machine for himsel
after his own design. He happened t
mention his plan to some of his friends
and found that they and many other
we're anxious to do the same thing, an'
tho result was the formation OF tn
above mentioned company.
An automobile CONSTRUCTED after tn
design drawn up by the banker referred
to was completed as long ago as las
July and has been in active use eve
since 1t is A 40-hOrsepower maChin
and is said to have made seventy-thre'
miles an hour Another car built OF
similar lines is on exhibition in tn
basement of No. so Wall street
Sample Car Attracts Crowd.
1t was placed there so that the mel
who are interested in the company coul,
see what sort of automobile they 1r
tC get without having to journey L
Springfield and was not meant for tn
general public to see. Through an over
sight. however. the machine arrived a
it's destination at noon instead OF a
night. as had been intended. and tn
unusual sight Of an automobile bein;
takea into such a place attracted 81
much attention that the story Of TIL
formation OF the company, which it ha'
been intended TO keep secret for tn
present, became public. The automobil
or, view is a composite of all that va
considered best in the commercial ma
chimes and everything about it is tn
finest of its sort.
The company will make its own mo
tors. bu5 some parts Of the cars, it i
understood. will be purchased elseUher
and assembled al the factory. No ex
pense will be spared, it is said, to max
the machines superior to automobile
manufactured anywhere at any price.