Review of reviews and world's work . nce S^ to start the enterprise if thematter would be kept secret, a- he could notafford to let his banker hear of his beinginveigled into such an air-castle scheme. Joyously the conditions and the cash were? ted; a -mall plant was built that turnedout a number of low-priced car-. It requiredno argument to convince people that thesemachines were just what they wanted. SI ess came in a flash. Order- fairly flowed inand the rainbow of promise arched itself overthe little factory. Backed by the stove man,who advanced more money to him from time-to time and
Review of reviews and world's work . nce S^ to start the enterprise if thematter would be kept secret, a- he could notafford to let his banker hear of his beinginveigled into such an air-castle scheme. Joyously the conditions and the cash were? ted; a -mall plant was built that turnedout a number of low-priced car-. It requiredno argument to convince people that thesemachines were just what they wanted. SI ess came in a flash. Order- fairly flowed inand the rainbow of promise arched itself overthe little factory. Backed by the stove man,who advanced more money to him from time-to time and who was no longer fearful of let-ting hi- interest in the enterprise be knownto the banking world, the suddenly built larger and larger plants,and the stove foundry, the parent of theaffair, soon became the little end of the Stovemans business and was left practically toother hands. This pioneer had a genius for machinery,lb- invented many labor-saving device- andschemes of organization to reduce the cost o\ **». A huiv; ni<i\ i u r« \<. nsiNC \i \ turn t-OK thk iqio \ wni kbii i com ? car) THE METEORIC RISE OF THE AUTOMOBILE INDUSTRY 585 manufacture. The financial management of This was not the only case of bicycle-mak-the concern and the selling agencies were ing leading to automobile manufacturing,equally effective, and in an astonishingly short A half dozen large bicycle makers and othertime the company began to pay big dividends, smaller ones used the capital and experienceFrom that day to this the net earnings have they had acquired in the wheel trade tocontinued to pile up. and both the machinist start in the manufacture of the new vehicleand his backer have become millionaires. with its bigger market and better profits. About the same time this machinist was But the largest things, in commercial hg-tinkering with his first car, another mechanic ures, have been done, as usual, not by theof Detroit, working for S25 per week, was inventor or speci
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Keywords: ., bookcentury1800, bookdecade1890, bookidreviewofrevi, bookyear1890
