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Merger

D

DeltaRed

Well-known Member
On this day,Aug 12,1902,the
International Harvester Company was
formed by the merging of the
McCormick;Deering,and several smaller
companys.119 years ago.
 
I might have to fix the gas leak on my C and take for a drive. Almost two years since it has been moved under it's own power.
After I finish my ice cream
 
I remember when Case merged with IH. The news organizations found out first and were calling the dealerships for details before the dealers knew about it.
 
And previously financier J P Morgan told both Mr. McCormick & Mr. Deering that because they both had borrowed so much money hiring lawyers fighting the each other over patent rights that he now owned them both. He'd also told them that now WE (including his financial corporation) ARE ALL forming a great new company called International Harvester and we are going to market our reapers internationally. You two will be observers for the next 10 years while my people manage the new world wide operation.
 
IH was a Dow Jones top 30 stock and a key measure of the US economy most of the years IH existed. Probably the Microsoft or Apple of its day early on in its life. IH is just one example of how hard it is to stay on top and stay alive in the business world. How many prominent companies from 100 years ago are still left close to their original form? Dupont, Deere, Ford ?
 
The smart dealers with connections to Chicago HQ knew many years prior that IH was dysfunctional. One area dealer hedged his IH bets by 1980 carrying Deutz, Hesston, Steiger, Versatile, Wilrich, and Kinze as well as IH. He said the IH block man was always on his back about the duplication and threatened the dealer with cancellation. It never happened until the Case IH merger. A couple other dealers carried New Holland and got the same consternation from the block man until the dealers retorted about who was going to sell the dozens of 66 series tractors on the lot if they got cancelled. I would imagine a fair number of dealers in general knew but were not strong enough to cross IH by going public with IH's problems.
 
About 25 miles from me, the Case dealer lost his franchise because he was surrounded by IH dealers. The IH dealers were owned by the same family and were much bigger than the Case dealer, so they got to keep their line of equipment. The irony of all this was that the Case dealership was the oldest in the state. The same dealership is still open, but they sell MF equipment.
 
It was pretty much the opposite here. A regional powerhouse Case dealer with an exceptionally strong industrial business prevailed over several IH dealers when the territories were reapportioned. It cost Case IH for a number of years as many were PO'd that their favorite IH dealer got cancelled.
 
I might even get my 90 year old Farmall Regular out of the barn and take a trip around the property. It's a 1931 and still is a strong runner.
 
Wanted to get my F-20 out of the barn for the local threshing bee here in July, but haying season drug out to long. So its still tucked in the barn behind the hay processer.
 
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