Alexander Y. Malcomson
| Alexander Y. Malcomson | |
|---|---|
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| Born |
June 7, 1865 Dalry, Ayrshire, Scotland |
| Died | August 1, 1923 (aged 58) Ann Arbor, Michigan |
| Occupation | coal dealer |
| Known for | co-founding Ford Motor Company |
| Spouse(s) | Sarah J. Mickleborough |
| Children | Mary J., Helen J., Grace L., George W., Alexander Y., and Allan R. Malcomson |
Alexander Young Malcomson (June 7, 1865 – August 1, 1923) was a coal dealer from Detroit, Michigan who bankrolled Henry Ford's first successful foray into automobile manufacturing: the Ford Motor Company.
Alexander Young Malcomson was born June 7, 1865, in Dalry, Ayrshire, Scotland and emigrated to Detroit at the age of 15, coming over with his widower father and staying with his uncle Joseph and family. He immediately began working in a grocery store, then went into business for himself after purchasing a small grocery. He soon switched to dealing in coal, eventually buying out several competitors and emerging as a major dealer, owning six coal yards by 1902. In addition to his coal yards, Malcomson invested in a variety of projects outside of the coal business. In 1895, Malcomson hired a young clerk, James Couzens (later mayor of Detroit and US Senator), to work at his firm.
Malcomson married Sarah J. Mickleborough in 1889 and had six children: Mary J., Helen J., Grace L., George W., Alexander Y., and Allan R. Malcomson. Sarah died c. 1902 and he then married Alice Schofield in 1903, a marriage which produced two daughters, Dorothy J. and Margaret A. Malcomson.
Malcomson knew Henry Ford when the latter had worked at the Detroit Edison Co. In 1902, with his involvement in the Henry Ford Company coming to an end, Ford approached Malcomson to bankroll a new automotive company. Malcomson, although overextended with his other investments, was able to raise $3000 With this capital, Malcomson and Ford agreed to form a company, Ford & Malcomson, to develop a new automobile. Details of the partnership were written down and signed by each man, and witnessed by C. Harold Wills. With Malcomson's backing, Ford designed the Model A, an inexpensive car designed to be sold for $750. In 1903, the firm moved to a new building on Mack Avenue, and soon Ford and Malcomson ("doing business as the Ford Motor Company") agreed to purchase over $160,000 in parts from John and Horace Dodge; additional purchases for smaller amounts were made from numerous suppliers.
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