The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1919-07-19

dollars invested. And they show. al
so. other men who, through lack OF
confidence. rival business interests or
other causes. with drew in the early
days and thereby cheated themselves
OF similar fortunes.
Ford and A. Y. Malcomson. coal
dealer. Joined In partnership in 1902
and the latter invested $1,000. but
they we're unable 10 swing the pro-
ject without more capital AS the
result OF their efforts new company
was formed. Ford and Malcomson
taking 81 per cent OF the stock in con-
federation OF their interests. John
+. and Horace r. Dodge, who were
conducting machine shop in Detroit,
took $1,000 worth OF stock each, not
for cash, but in lieu of profits OF
| $50 chassis they contracted 10 build.
John w Anderson and Horace IL.
Rackham, law partners, each put In
a similar amount, while John S.
Gray, a banker, took $4,000 worth Of
the stock and was made president of
the company. James u. Couzens, per-
haps showed the greatest confidence
OF all of the pioneers of the new cor
poration. The mayor was at that time
hookkeeper for Malcomson, drawing
$500 year. He took his entire saw.
ings of $500. added to 1t $500 given
to him by his employer and 500 lent
to him by his sister, Mrs. A. p. Hauss,
combined the total with his note for
$1,000 and subscribed for $4,000 worth
CT stocK AS a consequence he was
Liade secretary and treasurer.
Albert Strelow took a $1,000 batch
OF stock. A few years later he sold
out his holdings to Couzens for $780,
900. Similarly. Malcomson sold his
interests 20 Henry Ford in 1904 for
$175,000. 1t was by this latter deal
that Henry Ford gained the control
ing interest in the corporation that
he has held ever since.
The company prospered marvel
ously from the very start. In the first
Is months 100 cars were built. Six
years later the annual output had In
creased to 10000 In 1917. more than
100000 Fords were turned out and
marketed with ease. The company
is now, according 70 Edsel Ford, max
ing 1920 cars day in an effort 10
catch up with average 24-hour demand
of 1000.
The original factory was on Mack
avenue, but was soon deserted for
larger quarters at Piquette avenue
and Beaubien street. These also were
outgrown and the company moved to
its present plant in Highland Park.
OF late years there have been SER
ious differences OF opinion among the
various stockholders. IL was under
stood that Henry Ford had far-reach-
ing plans for expension not acquies-
ced in by the Dodge Brothers and
others. The Dodges finally took their
case into court in an effort to stop
the Ford project Of building immense
blast furnaces on the River Rouge
and TO compel instead division OF
the accumulation Of profits AS re-
suit the courts decided to permit
the expansion OF the Ford activities
but to order the division of $4,000
900 profits.
Z Since then Henry Ford has been
openly diss tisfed with his associates
Following trip to the Pacific coast
a few months ago, he announced his
determination TO build a great new
factory for the manufacture of d
car materially underselling the Ford
From that day to this. II has been
apparent that either Ford was tc
sell his Highland Park interests OF
buy out the minority stockholders
Just how much the Ford plant as
II stands today Is worth Is impossi-
BILE to estimate with any degree OF
accuracy. There has been talk ol
eonn aon noa -. 49,. IInpr., Ie1rIs.