The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-07-22
The Ford Company and Its Eight
Fortunate Stockholders
New York SUM

New Y
Such vision Of wealth as was re-
Gently spread before the eyes of the
people of Detroit-and the whole
world-suggests comparisons with
the Arabian Nights rather than the
actual happenings Of this world. Yet
It was the human qualities of deter
animation. perseverance. capacity to
realize an opportunity and business
ability that brought about the success
which had elimination the other
day when the stockholders of the
Ford Motor company voted to In :
crease the capital stock from $1,000
900 to s100.OO0.OO0 and at the same
time declared a stock dividend of $4S,-
100000 besides the usual cash divi-
dend.
But who rubbed this wonderful
lamp OF Aladdins? Who helped him =?
The story Of the company. common
place in the beginning, has flavor
of romance.
Dollars have been made to multiply
so that hundreds have become thou
sands and thousands millions. A girl
lent her brother 800 and through that
loan she became the possessor Of a
fortune. This Is no typographical err
ror-the original amount invested
was 800. Truly the Jim have not
been idle, but they have been Of the
entirely human kind. They are Henry
Ford and James Couzens-as wonder
full In their way as the spirits of Ara
bia.
Beginning Of Ford Company.
In the summer of 1902 Henry Ford
formed copartnershlp with A. Y.
Malcolmson, a coal dealer, for the
building Of motor vehicle. Prior to
that time nine years had elapsed since
the present automobile king had first
seen and operated vehicle propelled
by gasoline-nine years which gave
him experience but nothing more. The
NOHpuhiOo IA WHlIAl was AhLGiCStCu
as designer and inventor, the Henry
Ford Automobile company and the
Detroit Automobile company, had
"curled up and died." but the Ford
determination was still alive.
Mr., Malcolmson was to pay all the
expenses of the new company up to
$4,000; but this limit was soon passed
and the amount grew to $1,000 before
a satisfactory result was achieved
Then an attempt was made to form a
company to market Ford's car.
For the next two months many peo-
pie in Detroit heard opportunity
knocking at their door: but only a
very few answered. Finally a small
number were induced to invest money
In the enterprise and on June 10,
1908, the company was formed. Ford
and Malcolmson turned in their In
vention and rights for 81 per cent Of
the stock.
Nobody who made the financial
venture was at all enthusiastic. No
extraordinary results were looked for
even II the company managed to sur
vive. An investment with the usual
return of interest was about all that
was hoped for under the best OF con-
ditions.
Dodge Brothers Come In.
Contracts were made with Dodge
Bros, Of Detroit, who had operated
general machine shop, for $50 chas-
sis. Both John F. and Horace e.
Dodge subscribed for $4,000 of stock
In the new company. the money to be
paid out of the profits on the $50
chassis. Thus they became two of
the present eight shareholders in the
Ford Motor company
The Dodge brothers were hard
workers and fairly we'll off before the
days of the Ford company. They are
still hard workers and have built an
enormous automobile plant of their
own. They have also received $780,
900 each in dividends and will have
$2,600.O00 of the new stock.
Theirs has been the greatest pro-
portionate gain Of any Of those inter-
ested in the company, as until re-
Gently they did vast amount OF work
for the Ford company in their own
shops. They are generous and char
table. Yachting is their principal
pastime, and their palatial yacht the
Nokomis, is considered the finest on
the lakes
Lawyers Take Stock.
Anderson & Rackham, firm of
young attorneys who drew up the pa
pers when the company was organic
ed. This led to their becoming share
holders. They had decided TO put |
$4,000 each into the venture, but at
the last moment they increased the |
amount to $4,000 each.
Horace II. Raekham, like Mr. Ford, |
was farmers son. He had gone to
the city and studied law His health
was not robust and he purchased a
few acres of land on the outskirts of
the city. Half of this land he sold
for more than original purchase price.
Before the formation Of the COM