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:
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