Plano Manufacturing Co.
Life Span: 1893-1902
Location: Between One Hundred and Fifteenth and One Hundred and Nineteenth streets and Morgan street and Ashland avenue and adjoins the West Pullman tract on the north.
Architects: TBD
Western Rural and American Stockman, February 18, 1893
Twenty-five Acres of Factories.
The most recent and important news in the reaper line is the coming removal of the Plano Manufacturing Company’s works to Chicago, Although occupying twenty large buildings at Plano, Ill., with over 600 men and all the advantages of transportation by the C. B. and Q. road, the company has been compelled to admit the necessity of larger works in a more central location. Of course the problem thus presented by the colossal growth of the demand for the “Light Running” Plano machines was solved in a successful manner by the officers of a company which has placed the best binders, mowers, headers and hay rakes ever known at the service at the farmers in the harvest field. The announcement is now made that one more addition to Chicago’s growth will result from the accession of the Plano’s works. Land has been bought at West Pullman, within Chicago’s city limits, adjoining to the great Pullman Car Works. This property offers switching connection with the Rock Island, the great Pennsylvania Lines, the Illinois Central and every western road out of Chicago. Ground will be broken on May ist for the erection of twenty-five acres of factories.
This removal of the Plano Company’s already gigantic works from Plano to Chicago, the great metropolis, is eloquent of the magnificent financial resources of the firm, meaning, as it must, an outlay of not less than $500,000. It also speaks louder than words of the foresight of the principal officers, who have practically quitted a location of inequality for a position which is, if anything, superior to that enjoyed by two other large reaper manufactories in Chicago. The peculiar advantages as a manufacturing center which Chicago grants, will give a greater impetus to the moth output of “Light Running” Plano machines. No less than 1,500 to 1,800 men will be required to operate the new works, which will be in general plan and in every detail the most modern, in fact the model reaper works of the country.
The Plano Company was organized eleven years ago at Plano, Ill., on the dissolution of the partnership between E. H. Gammon and William Deering, by W. H. Jones, then and now president of the corporation, L. B Wood and E. H. Gammon. During the first year of its incorporation the Plano Company manufactured the modest number of 250 machines, but during 1892 the output was 43,865 machines. This is progress! The present officers are W. H. Jones, President, J. P. Prindle, Vice-President (successor to the late E. H. Gammon), O. W. Jones, Secretary, L. B Wood, Treasurer. The offices and warehouses of the company will remain at 83 West Monroe street, Chicago, until the new works are completed The branch offices, where machines and repairs are kept in stock, are Jackson, Mich.; Rochester, N. Y.; Harrisburg, Pa.; Columbus, Ohio; Indianapolis, Ind.; Chattanooga, Tenn.; Kansas City, Mo.; Fort Worth, Texas; Council Bluffs, Iowa; Cedar Rapids, Iowa; Minneapolis, Minnesota; Fargo, Dak.; Portland, Oregon; Spokane Falls, Washington.
Inter Ocean, February 5, 1893
Chicago Tribune, August 14, 1902
Details of the formation, operating plans, scope, and purposes of the International Harvester company were made public yesterday and include the immediate absorption of five of the largest harvesting machine and agricultural concerns in the country, including the two great enterprises in Chicago. When the merger of these huge manufacturing plants is completed it is anticipated that the combination will reach out after the smaller concerns and ultimately invade Canada.
The headquarters of the combined company will be in Chicago.
As announced with the filing of the articles of incorporation at Trenton, N.J., on Tuesday, the capitalization of the corporation is $120,000,000 common stock in shares of $100 each. The company is said to be capitalized upon an exceptionally conservative basis. Of its assets $80,000,000 are in cash working capital. The company will require no financing and there will be no offer of its stock to the public, all the cash required having been provided by its stockholders.
Companies Involved in Merger.
The International company is a merger of the following agricultural implement companies:
- McCormick Harvesting Machine company.
Deering Harvester company.
Plano Harvesting company.
Warder, Bushnell & Glessner company (Champion).
Milwaukee Harvesting company.
The officers of the company are:
- President—Cyrus H. McCormick.
Chairman of executive committee—Charles Deering.
Chairman of Finance committee—George W. Perkins.
Vice presidents—Harold F. McCormick, James Deering, William H. Jones, and John J. Glessner.
Secretary and treasurer—Richard F. Howe.
The directorate comprise the following financiers an business men: Cyrus Bentley, Paul D. Cravath, William Deering, Charles Deering, James Deering, E. H. gary, John J. Glessner, Richard F. Howe, Abram M. Hyatt, William H. Jones, Cyrus H. McCormick, Harold F. McCormick, Stanlet McCormick, Eldridge M. Fowler, George W. Perkins, Norman B. Ream, Charles Steele, and Leslie D. Ward.
Four Who Are “Outsiders.”
The four largest companies not included in the consolidation are D. M. Osbourne & Co. of Auburn, N.Y.; Johnstone Harvester company of Batavia, N.Y.; Walter A. Wood Mowing and Reaping Machine company of Hoosick Falls, N. Y.; and Adriance, Platt & Co. of Pougkeepsie, N. Y.
According to the articles of incorporation of the new company if two-thirds of the stockholders vote an increase of stock such increase shall be common stock, and the original stock will at once become 6 per cent cumulative preferred. This provision was made to prevent additional stock being put ahead of the original stock.
Make 700,000 Machines a Year.
The annual output of the five plants in the combine approximates over 700,000 machines. They employ fully 20,000 men. The annual output of the McCormick company exceeds 300,000 machines, the Deering company places in the market annually 250,000, the Champion company over 75,000, the Plano company 50,000 and the Milwaukee Harvesting company 40,000. One of the first of the outside concerns which it is declared will be taken into the combine is the Aultman-Miller company of Aakron, O., manufacturers of the Buckeye mower and reaper.
Five Dominant Harvester Market.
Although the merger includes at present only five companies its capitalization is nearly to the capital of the total number of agricultural machinery and implement manufacturing companies in the United States. There are in all 715 companies in the United States with a total capitalization of $157,707,951, but all but a few of these are small, local concerns. The McCormick Harvester Machinery company was founded in 1847 by Cyrus H. McCormick, father of the president if the combine. The plant covers seventy-five acres of ground. The Plano company was established in 1893 by Marsh, Steward & Co. for the manufacture of the Marsh harvester. In 1870 the company became the Gammon & Deering Co., which continued until 1879, when William Deering left the company , and coming to Chicago, founded the Deering company. The Deering company is located on the north branch of the Chicago river.
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