139:, Ayrshire, Scotland, and emigrated to Detroit at the age of 15, coming over with his widower father and staying with his uncle Joseph and family. He immediately began working in a grocery store, then went into business for himself after purchasing a small grocery. He soon switched to dealing in coal, eventually buying out several competitors and emerging as a major dealer, owning six coal yards by 1902. In addition to his coal yards, Malcomson invested in a variety of projects outside of the coal business. In 1895, Malcomson hired a young clerk,
198:; in all, Malcomson brought a total of $ 28,000 cash to the company. On June 16, 1903, Ford and Malcomson was officially re-incorporated as Ford Motor Co., with Gray as president and Ford as vice-president. Ford and Malcomson each owned 255 shares of the company (25.5% apiece), while Gray, Rackham, Anderson, Couzens, and other investors received shares proportional to their investment. The Dodge brothers each received 10% of the shares in the new company in return for materials provided.
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over $ 100,000, and the company declared a 100% stock dividend; in the first year, the company made over $ 250,000 profit. Malcomson wanted to increase profits, and, believing luxury cars were the most attractive sector of the automobile market, directed Ford to design and build the larger and more expensive
227:, explicitly to make parts for Ford Motor. Ford Manufacturing charged Ford Motor inflated prices, shifting the profits to Ford Manufacturing and leaving Ford Motor profitless. Malcomson, recognizing that he had been outmaneuvered, sold his stock in Ford Motor to Henry Ford in 1906 for $ 175,000.
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Both
Malcomson and Gray had larger businesses to run than Ford Motor Co. To keep Henry Ford in check, Malcomson installed his clerk James Couzens (also a shareholder) at Ford Motor in a full-time position. In any case, the company was an immediate success. Earnings in the first six months were
166:
coming to an end, Ford approached
Malcomson to bankroll a new automotive company. Malcomson, although overextended with his other investments, was able to raise $ 3000 With this capital, Malcomson and Ford agreed to form a company, Ford & Malcomson, to develop a new automobile. Details of the
222:
to produce luxury automobiles. However, other board members at Ford became upset, because the
Aerocar would compete directly with the Model K. They demanded Malcomson give up his shares in Ford. Malcomson refused. However, Henry Ford was still upset at being dictated to by Malcomson. With
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Malcomson plowed his profit from the sale of Ford stock back into
Aerocar, building a factory and producing the Aerocar Model D and Model F. However, the cars were not very popular, and Aerocar went broke in 1908. He sold his factory to
175:, an inexpensive car designed to be sold for $ 750. In 1903, the firm moved to a new building on Mack Avenue, and soon Ford and Malcomson ("doing business as the Ford Motor Company") agreed to purchase over $ 160,000 in parts from
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242:, and building supplies. By his death, he had amassed an estimated $ 2,000,000, and his insurance policy of $ 633,250 was the fifth largest paid in that year.
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Malcomson married Sarah J. Mickleborough in 1889 and had six children: Mary J., Helen J., Grace L., George W., Alexander Y., and Allan R. Malcomson. Sarah died
520:
437:
535:
190:, president of Detroit's German-American bank. Gray agreed to invest $ 10,500 in the automobile firm. Malcomson also convinced his young clerk,
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However, Malcomson dove back into business, running his coal supply business. In 1913, he formed
Malcomson and Houghten, a distributor of coal,
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1902 and he then married Alice
Schofield in 1903, a marriage which produced two daughters, Dorothy J. and Margaret A. Malcomson.
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However, the young firm quickly had trouble making payments to the Dodge brothers due to slow sales. Malcomson turned to
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210:. Ford was reluctant, but Malcomson was backed by his majority coalition on the board, and Ford capitulated.
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337:
Chrysler, Ford, Durant and Sloan: Founding Giants of the
American Automotive Industry
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183:; additional purchases for smaller amounts were made from numerous suppliers.
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Mary J., Helen J., Grace L., George W., Alexander Y., and Allan R. Malcomson
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Couzens's help, and without
Malcomson's involvement, Ford established the
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and returned to the coal business, still owing money to his creditors.
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partnership were written down and signed by each man, and witnessed by
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194:, to invest, as well as the law partners John W. Anderson and
143:(later mayor of Detroit and US senator), to work at his firm.
123:'s first successful foray into automobile manufacturing: the
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Malcomson knew Henry Ford when the latter had worked at the
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Aerocar
Company Factory/ Hudson Motor Car Company from
115:(June 7, 1865 – August 1, 1923) was a coal dealer from
253:, on August 1, 1923, at age 59, after a long illness.
135:
Alexander Young
Malcomson was born June 7, 1865, in
433:"Original Twelve Investors of Ford Motor Company,"
299:Independent Man: The Life of Senator James Couzens
502:
171:. With Malcomson's backing, Ford designed the
218:In 1905, to hedge his bets, Malcomson formed
521:American founders of automobile manufacturers
456:Mrs. Alexander Malcomson (November 3, 1930).
415:The Henry Ford Historical Association website
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536:Scottish emigrants to the United States
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541:People from Dalry, North Ayrshire
477:The Last Billionaire - Henry Ford
382:"The Birth of Ford Motor Company"
488:"Milestones" (August 13, 1923).
302:, Wayne State University Press,
360:Marquis, Albert Nelson, 1914,
284:, retrieved December 12, 2007.
1:
256:
153:
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475:Richards, William C., 2007,
245:Alexander Malcomson died of
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119:, Michigan, who bankrolled
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225:Ford Manufacturing Company
444:, retrieved Dec 12, 2007.
113:Alexander Young Malcomson
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83:
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21:
479:, READ Books, pp. 81-82.
334:Weiss, Eugene H., 2003,
366:, A. N. Marquis and Co.
363:The Book of Detroiters
296:Barnard, Harry, 2002,
98:Sarah J. Mickleborough
23:Alexander Y. Malcomson
340:, McFarland and Co.,
458:Letter to the editor
247:hypostatic pneumonia
54:, Ayrshire, Scotland
16:American coal dealer
251:Ann Arbor, Michigan
70:Ann Arbor, Michigan
526:History of Detroit
440:2004-08-13 at the
420:2007-12-26 at the
413:), retrieved from
409:2007-10-20 at the
398:2007-10-19 at the
387:2007-10-19 at the
164:Henry Ford Company
160:Detroit Edison Co.
125:Ford Motor Company
89:Ford Motor Company
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380:Bryan, Ford R.,
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233:Hudson Motor Car
192:James J. Couzens
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442:Wayback Machine
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422:Wayback Machine
411:Wayback Machine
400:Wayback Machine
389:Wayback Machine
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282:Detroit1701.org
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214:The end at Ford
169:C. Harold Wills
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435:The Henry Ford
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196:Horace Rackham
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84:Known for
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67:(aged 58)
63:August 1, 1923
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141:James Couzens
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348:, pp. 13-22.
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310:, pp. 29-33.
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188:John S. Gray
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181:Horace Dodge
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87:Co-founding
65:(1923-08-01)
48:June 7, 1865
531:Ford people
516:1923 deaths
511:1865 births
79:Coal dealer
505:Categories
257:References
154:Henry Ford
131:Early life
121:Henry Ford
76:Occupation
44:1865-06-07
438:Archived
418:Archived
407:Archived
396:Archived
385:Archived
103:Children
220:Aerocar
208:Model K
204:Model B
173:Model A
117:Detroit
404:part 3
393:part 2
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95:Spouse
137:Dalry
52:Dalry
491:Time
463:Time
342:ISBN
304:ISBN
240:coke
206:and
179:and
177:John
60:Died
38:Born
249:in
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391:(
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42:(
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