History
The Great Lakes Towing Company was the first company of The Great Lakes Group, founded in New Jersey on July 7, 1899. Its founding shareholders included Jeptha H. Wade II, John D. Rockefeller, William G. Mather, and James R. Sinclair. T.F. Newman was the first president. The company began full operation on the Great Lakes (except Lake Ontario and the St. Lawrence River) in 1900, starting its first navigating season with over 150 tugboats.
The Company grew rapidly, so much so that in 1913 it was charged with operating a monopoly.
Frequent labor unrest during World War II resulted in the U.S. government assuming control of the Company in 1945-46.
During the 1950s and 1960s the company installed innovative communication equipment. Business began to decline in the 1960s when the decline of the steel industry and the introduction of new types of ships led to a reduction in the number of tugs needed. In 1972 the company was purchased by the American Shipbuilding Co., which sold the firm to Trans Commercial Industries, Inc., in 1973.
The company's headquarters have been in Cleveland since its founding, though the locations of its docks and offices have changed several times over the years. Ronald Rasmus serves as Chairman of the company.
Read more about this topic: The Great Lakes Group
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