Henry Ford's Own Story: How a Farmer Boy Rose to the Power that goes with Many Millions, Yet Never Lost Touch with Humanity
John Stuart Mill · en
In this emergency Ford recalled the great advertising value of racing.
He had designed a four-cylinder car to be put on the market the
following year. If he could make a spectacular demonstration of
four-cylinder construction as compared with the old motors, the success
of his spring sales would be assured.
Ford announced that in November he would try for the world's speed
record in a four-cylinder car of his own construction.
The old machine in which Barney Oldfield had made his debut as an
automobile driver was brought out and overhauled. The body was rebuilt,
so that in form it was much like the racing cars of to-day. Ford himself
remodeled the motor.
The test was to be made on the frozen surface of Lake St. Clair. The
course was surveyed. On the appointed day, with Ford himself as driver,
the motor car appeared for its second trial.
A stiff wind was blowing over the ice. The surface of the lake,
apparently smooth, was in reality seamed with slight crevices and
roughened with frozen snow. Ford, muffled in a fur coat, with a fur cap
pulled down over his ears, went over it anxiously, noting mentally the
worst spots. Then he cranked the car, settled himself in the seat and
nodded to the starter. The signal came, Ford threw on the power and was
off.
The car, striking the ice fissure, leaped into the air, two wheels at a
time. Ford, clinging to the tiller, was almost thrown from his seat.
Zig-zagging wildly, bouncing like a ball, the machine shot over the ice.
Twice it almost upset, but Ford, struggling to keep the course, never
shut down the power. He finished the mile in 39-1/5 seconds, beating the
world's record by seven seconds.
The success of next year's sales was certain.
The following day when Ford reached the factory, Wills met him with an
anxious face. It was pay day and there was no money.
"We didn't bother you about it last week because you were so busy with
the race," Wills said. "We thought up to the last minute that the check
from Chicago would come. It was due two days ago. We wired yesterday and
got no answer. Mr. Couzens left this morning on the early train to find
out what is wrong. You know how it is; the men want their money for over
Christmas. The ---- Company wants men and they're offering more money
than we can pay. I'm afraid our men will quit, and if they do and we
can't get out the Cincinnati order next week----"
Ford knew that to raise more money from the stockholders would be
impossible. They had gone in as deeply as they could. To sacrifice a
block of his own stock would be to lose control of the company, and
besides it would be difficult to sell it. The company was still
struggling for existence; it had paid no dividends, and other automobile
manufacturers were already paying the enormous profits that led in the
next few years to wild, disastrous expansion in the automobile business.
The Ford company had no marketable assets--nothing but the rented
building, the equipment and a few unfilled orders.