As the transcribed article below shows, this was the first the press learned that Ford Motor Co. co-founder (along with Henry Ford) Alexander Y. Malcomson was starting a new, competing automobile company. To add insult to injury, Malcomson had just been approved by the other directors on October 16th to serve another term on the board of directors in the position of treasurer.
Ford Motor Co. had just completed its 2nd full year in operation, and was by some accounts the 2nd largest automaker in 1905. What’s more, the company had awarded two 100% dividends to shareholders over the summer of 1905. The new plant was paid for, and the company was preparing to place two revolutionary models on the market for the upcoming year, the first six cylinder car to be produced in the U.S., Model K, and the lowest priced four cylinder runabout in the world, Model N.
This article appeared in “The Motor World” magazine out of New York. This is the first time the press “sniffed out” the rumor of a competing company, and it appears it took a few days for the news to hit the local press (and Ford shareholders). When it did, things became tense. In a few days I’ll post the local press reaction.
Cheers.
Rob