The Michigan-Peninsular Car Company was a

railroad Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a pre ...

rolling stock The term rolling stock in the rail transport industry refers to railway vehicles, including both powered and unpowered vehicles: for example, locomotives, freight and passenger cars (or coaches), and non-revenue cars. Passenger vehicles can b ...

manufacturing company formed from the merger of five manufacturing companies in 1892. It was

Detroit Detroit ( , ; , ) is the largest city in the U.S. state of Michigan. It is also the largest U.S. city on the United States–Canada border, and the seat of government of Wayne County. The City of Detroit had a population of 639,111 at th ...

's largest manufacturer before the rise of the

automotive industry The automotive industry comprises a wide range of company, companies and organizations involved in the design, Business development, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest industry ...

. In 1899, it merged with a dozen other railroad car manufacturing firms to form

American Car and Foundry Company ACF Industries, originally the American Car and Foundry Company (abbreviated as ACF), is an American manufacturer of railroad rolling stock. One of its subsidiaries was once (1925–54) a manufacturer of motor coaches and trolley coaches und ...

(ACF).

History

Michigan-Peninsular Car Company was formed from the merger of

Michigan Car Company The Michigan Car Company was a railroad rolling stock manufacturer located in Detroit, Michigan. The Michigan Car Company was organized in 1864 by John S. Newberry (b. 1826) and James McMillan (b. 1838) in order to manufacture railroad cars for ...

Peninsular Car Company The Peninsular Car Company was a railroad rolling stock manufacturer, founded by Charles L. Freer and Frank J. Hecker in 1885. In 1892, the company merged with Michigan Car Company, the Russel Wheel and Foundry Company, the Detroit Car Wheel C ...

Detroit Car Wheel Company Detroit ( , ; , ) is the largest city in the U.S. state of Michigan. It is also the largest U.S. city on the United States–Canada border, and the seat of government of Wayne County. The City of Detroit had a population of 639,111 at the ...

, Michigan Forge and Iron Company and Detroit Pipe and Foundry Company, with

Russell A. Alger Russell Alexander Alger (February 27, 1836 – January 24, 1907) was an American politician and businessman. He served as the 20th Governor of Michigan, U.S. Senator, and U.S. Secretary of War. He was supposedly a distant relation of author H ...

appointed as the first president of the consolidated company. The combined company could build over 100 new freight cars per day. It was financed and controlled by a syndicate led by

James A. McMillan James is a common English language surname and given name: *James (name), the typically masculine first name James * James (surname), various people with the last name James James or James City may also refer to: People * King James (disambiguat ...

. The

Panic of 1893 The Panic of 1893 was an economic depression in the United States that began in 1893 and ended in 1897. It deeply affected every sector of the economy, and produced political upheaval that led to the political realignment of 1896 and the pres ...

directly affected Michigan-Peninsular as orders for new cars evaporated, the plant was completely closed for five months. The next three years and the further financial difficulties of 1897 also negatively affected Michigan-Peninsular such that the company was considering reducing the amount of capital

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

available. One report in the ''New York Times'' claims that Michigan-Peninsular had issued $3,000,000 in common stock and $5,000,000 in preferred stock and that during this time Col.

Frank J. Hecker Frank J. Hecker (July 6, 1846 - 1927) was an Americans, American businessman in the railroad-car manufacturing business. Hecker was from Detroit, Michigan. Early life Frank J. Hecker was born in Freedom, Michigan (in Washtenaw County, Michigan, W ...

and Charles L. Freer gained a

controlling interest A controlling interest is an ownership interest in a corporation with enough voting stock shares to prevail in any stockholders' motion. A majority of voting shares (over 50%) is always a controlling interest. When a party holds less than the majo ...

in the company. In 1899, Michigan-Peninsular was one of 13 companies merged to form ACF, with Michigan-Peninsular's plant becoming ACF's Detroit Plant. In 1902, the Detroit Plant became the first of ACF's facilities to move a car under construction on its own

trucks A truck or lorry is a motor vehicle designed to transport cargo, carry specialized payloads, or perform other utilitarian work. Trucks vary greatly in size, power, and configuration, but the vast majority feature body-on-frame construction ...

between stationary workstations.

References

* {{ACF preds Defunct rolling stock manufacturers of the United States American Car and Foundry Company Defunct manufacturing companies based in Detroit Vehicle manufacturing companies established in 1892 Vehicle manufacturing companies disestablished in 1899 1892 establishments in Michigan 1899 disestablishments in Michigan

History

See also

References