Ford Motor Company
In response, Malcomson brought in another group of investors and convinced the Dodge Brothers to accept a portion of the new company. Ford & Malcomson was reincorporated as the Ford Motor Company on June 16, 1903, with $28,000 capital. The original investors included Ford and Malcomson, the Dodge brothers, Malcomson's uncle John S. Gray, Malcolmson's secretary James Couzens, and two of Malcomson's lawyers, John W. Anderson and Horace Rackham. Ford then demonstrated a newly-designed car on the ice of Lake St. Clair, driving 1 mile (1.6 km) in 39.4 seconds and setting a new land speed record at 91.3 miles per hour (147.0 km/h). Convinced by this success, the race driver Barney Oldfield, who named this new Ford model "999" in honor of the fastest locomotive of the day, took the car around the country, making the Ford brand known throughout the United States. Ford also was one of the early backers of the Indianapolis 500.
Read more about this topic: Henry Ford
Famous quotes containing the words ford, motor and/or company:
“He’s the master of the nightmare. He’s the Gustave Doré of the world of Henry Ford and Co., Inc.”
—Henry Miller (1891–1980)
“We disparage reason.
But all the time it’s what we’re most concerned with.
There’s will as motor and there’s will as brakes.
Reason is, I suppose, the steering gear.”
—Robert Frost (1874–1963)
“We noticed several other sandy tracts in our voyage; and the course of the Merrimack can be traced from the nearest mountain by its yellow sand-banks, though the river itself is for the most part invisible. Lawsuits, as we hear, have in some cases grown out of these causes. Railroads have been made through certain irritable districts, breaking their sod, and so have set the sand to blowing, till it has converted fertile farms into deserts, and the company has had to pay the damages.”
—Henry David Thoreau (1817–1862)