Death and Legacy
Patterson died on May 7, 1922, two days after reviewing plans with General Billy Mitchell to develop a center for aviation research in Dayton. He is interred in the Woodland Cemetery, Dayton, Ohio. He left no great fortune because of his expenditures on social programs at his company, and because he believed that "shrouds have no pockets." He left ownership of the company to his son Frederick Beck Patterson who took it public in 1925. $55 million in stock was offered to the public in what was the largest business public offering up to that time.
Mr. Patterson was inducted into the Junior Achievement U.S. Business Hall of Fame in 1979.
Patterson's methods influenced United States business for a generation. In the period 1910-1930 it was estimated that one-sixth of United States business executives were former NCR executives.
Read more about this topic: John Henry Patterson (NCR Owner)
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