Business & brands / Auto industry
Alexander Y. Malcomson
1865–1923 · coal dealer, first financial backer of Ford Motor Company
Scottish-born Detroit coal dealer who bankrolled Henry Ford in 1902–1903, co-owned Ford Motor Company's first plant, then sold out in 1906.
- Born
Dalry, Ayrshire, Scotland- Died
aged 58- Birth name
- Alexander Young Malcomson
- Also known as
- Alexander Young Malcomson
- Detroit years
- 1880–1923
01 / The Detroit story
The Detroit story
Malcomson came to Detroit from Scotland at 15 and worked in his uncle's grocery before switching to coal, building a business with six coal yards by 1902. In 1895 he hired a young clerk named James Couzens. In 1902 he formed a partnership with Henry Ford to develop an affordable car, and in 1903 the venture took space in a converted wagon shop on Mack Avenue, where the first Ford Model A was assembled with running gear bought from the Dodge brothers. When Ford Motor Company was incorporated on June 16, 1903, Ford and Malcomson each held 25.5 percent. Malcomson wanted bigger, pricier cars and in 1905 started his own luxury Aerocar company; the rift with Ford's board led him to sell his Ford stock to Henry Ford in 1906 for $175,000, a fraction of its later value. The Aerocar venture soon failed. The Mack Avenue plant burned in 1941; a quarter-size replica stands in Greenfield Village.
Highlights
- Financed Ford & Malcomson in 1902
- Co-founder and 25.5% owner of Ford Motor Company (1903)
- Founded the Aerocar Company in 1905
- Sold his Ford shares to Henry Ford in 1906 for $175,000
02 / Their Detroit places
Their Detroit places 1
Where they lived, worked, performed and liked to hang out. Closed and demolished places stay here too, because they are part of the city's history.
Founded · 1903–1904
Ford Mack Avenue Plant (site)
Demolished · 1903–1904
Ford Motor Company's first plant, a rented wagon shop where 1,708 early Fords were assembled; it burned in 1941, and a replica stands in Greenfield Village.