Document 8VEYyKD9YpxEjD2n8JdD2RyLy
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OF TEE SHEHWIN WILLIAMS CO.
Biographloal, eto.
Output,Capital k Earninga
1655 Henry Alden Sherwin
started retail paint store. Born in Baltimore,Vtt1842. At 16
worked in dry goods store in Cleveland. ,
1670 Edward Porter Williasu 1870
as partners The sales-' man - a Clevelander from Ohio Western Re serve College former
ly in small glass bus iness
Contributed $2,000
capital -
1870 Serene P.Fenn- aooount-
. ' ant-'
'
1873 Started paint factory 601 Canal Road - old cooperage shop - 2 story brick
1874
1876 Mr.Sherwin developed first good mill. Print ing fabilities aoquired. First paint oompapy to have ohemioal laboratory
Output 450,000# mixings 1st year - 3,000 sq.ft, floor area
Total paint business $20,000,000 per year
1881 First convention held She min ,Williams ,Fenn, 3 other executives and 9 salesmen. Disoontin-
ued retail business <183
.
1684 Hired first ehemist in
the Industry. Cleveland
Plant destroyed by fire
' 1664
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The Sherwin-Williams Co. incorporated $750,000 eapital,issued 3,000 shares $100 conmion stack
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1st year sold $539,00 gross, $36,000 net ' profit.' ' .
:: ' .. ' '' , 1888 Purchased' Calumet Paint
- Co.Chioago,34 acres'. .
.Established offioes ..
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New Products
1667 D.R.Averill pat'-nted a poor prepared paint and gave it a bad name.
1874 83 formulas(first . raw umber in
oil)
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1880 STfP outside and inside
1884 Woed Steins and Paste Wood Filler
1885 Varnish and Enamels
1886 Roof and Bridge
' ' Railway and
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Marine
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N11838
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Biographioal, oto.:
Output,Capital & Earning 8
and warehouse in New York. Boston agent Cottlngham,Montreal
'*.890. First publicity man,
George Ford, started
advertising
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1892 Drew "Cover The Earth" design and laid on
' de sk :
1898 Learned value of control
- ling supply of fawmaterials for quality
1899 CottIngham Varnish Co.
taken on at Montreal
1900) Capital to $1,500,000
1901 Plant built at Newark 1908) then $2,500,000
Sales Divisions San
Francisco.Kansas
City. Tfarehouse s at
Minneapolis and Win
nipeg. Sales office
at Los Angeles
1902 3,000 shares inoreosed
to 25,000
.
1902 Built Linseed Oil Mill
at Cleveland
Acquired Lewis Berger
* Sons Ltd. (1760) 1903 10,000 shares $100
preferred issued.
'.903 Cottlngham made Vice
President, pry Coler
Plant started in Chi-
oogo. Mr. Williams
died at 60 years.
Built sales organiaa-
tion.
1304 Started mines at Magda . lenn, 245 acres, 4 miles
passages, 320 acres non mineral ground. Plant oapaoity now 4,000 Tons ore per mcnth
1905 G.A.Martin made manager Auxiliaries. Montreal Linseed Oil and Varnish
, Plapti. begun. Sales offioes Portland, Aevannah
1907 Enlarged Chicago plant
New Products
1894 Buggy Paints and Enamels
1896 Driers,Japans and, Dry Colors (cleve land)
1097 Copper Paint and Oil Stains
1898 Porh,Deok and Screen Paints
1899 Full line of varnishes
0007-SWP-000004911
3
Blographloal, eto.
Output.Capital & Earnings
New Products
1908 Sales offices Seattle, 1908 .Spokane
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1909 Sales offices Houston, 1909
New Orleans
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1909 Mr,Sherwin retires to be
Chairman. Mr.W.B.Cot-
tingham,President, 1909
merged' Canadian plant.
\ ' An Ontarian hardware .
olerk, stiff determine"
tion but chilly British
: politeness '
;
capltal $6,000,000
.
.
No public financing done
so far. S.P.Fenn still
treasurer . '
:
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Sales $7,642,000
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1910 Detroit White Lead soquired. Chicago Old
Dutoh Plant erected Dry Color built In Newark; also lims sulphur"'- . '
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1911 S-W Co. of Canada formed
for Canadian operations; also Lewis Berger 4 Son, '.England . ... . '
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1912 Ore separator built at
Magdalena
1913 Capital $9,000,000
Gross soles $11,000,000
1914 Coal Tar produots and
Earnings $930,000
dyes started Chicago,
eventually specialized
..
in" reds .
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1916 50th Anniversary - S.P,1916).Capital inoreased to
Fenn retired* Mr. Shsr- ) $30,000,000, as fol-
win dies, age 74*
1921) lows;
1917 Acquired Martln-Ssnour 1917
of Chloago and Nebraska.
Enlarged Lithopone, Coal
Tar, Dye Plant and Aoet-
io Acid, Chloago, Began
Acetic Acid In Bound 1918
Brook, Paint 4 Varnish
and Inseotieide in Oak-
, land ,
'
Sold to public for first
time. . ' '
$100.00 preferred-15,000
100.00 oommon -70,000
100.00 preferred-20,000
Raised $2,000,000 for Dyo
plant by offering stock
holder up to 30# of their
holdings
1919 Mr .Whittlesey made Direotor
f
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0007"SWP-000004912
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Biographical,etc.
Output,Capital 4 Earnings
1920 Purohaaed Aoae White 1920 Lead 4 Culor Works /; Det.ro It,Dallas/Boston 4 Los Angeles
1920 S-W caught napping on
Automotive Lacquers
while DuPont took the 1920
'' Business':"" ,
.
1920 Required use of spray gun and 40 oz.cotten per gal. in plaoo of 6 o*. pe r gal* same
. fluidity, ln'short,
l*w::viscosity cotton developed* Formerly took 20 days to finish oar, now 3 or 4; made 5,000,000 oars a year possible (1926) - 1935 auto provides 10% of all paint business
Exchanged Pour $24.00 shares
oommon for one MOO.OOj de
clared sto ck dividend of
50^.30,000 shares sold to
employees-only such plan
ever used
-
Sold 150,000 shares $100,00 I par 7% Preferred to retire \previ9us issues tn expand
plant and purchase Acme, largest subsidiary, Now
400 common stockholders* no earning statements so far
.
1921 G.A.Martln Vloe-Fresi- 1921 Deficit $2,300,000 - only
dent and General lion-
ono in history
. ager
. 'v ^ '
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1922 Cottingham.,Chairman - 1922 Martin, President, Warehouse fire in Chicago. Transferred to Pershing Rd. CP
nitrator exploded
Chicago. Lacquer fire 2 men killed
Earnings $2,700,000 *'/
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1925 Sales foroe 700 - 100 warehouses
1925
Salos $55,166,000 Output 344,000,000#
62 plants, 650 aaros 2,500,000 sq.ft,
.
1927 S.P.Fenn died -age 82 1927 77* Preferred called in New issue 6^*150,000 $100.00 Preferred
1923 intf.000 for 1Mt Lead
Stacks, Chicogc
1S29
1929 Exoeutivo offioos to Midland Bank Building
Sold 40,000 common,37.000 Proforrod to buy. Loro Bros..Dayton, sooorid largost subsidiary
1930 Cottingham died - 84 1930 Paid $500,000 for control
yoars
John Luoas
Near Products 0007-SWP-000004913
BioEvaphionl, cto,
Output.Capital fc Earnings
New Produets
1031 Control of S-W of Canada ' by orohtingo of stock
Oroaa uS^-Ioa Not Earning a
1929 #76,000,000 $6,000,000
1930 75,000,000 3,600 000
1931 64,000,000 3,200,000
1932. 47,000,000
703.000
1933 S-TT now leads rofin- 1933 \ 47,700,000 3.200.000
ishing fiold in auto 1934 55,600.000 4.300.000
but pays DuPont 6^ \
gal. royally on
This year 125,000 Tons
Laoquer
paints, 20,000 Tons In
In 1934 paid $400,000
sect! cido a , 80,000 Tons
pigment, 22,000,000 tin
1935 Of 1,400 paint eompdnios,
onns
S-W has 16# of businoss.
Total paint bill of 1935 Curront asSots-$28,000,000
r.S. $350,000,000 an-
In eash and government
mially. 40,000 indus
soouritioa - $8,700,000
trial produots in S-W
Curront liab-
formulasi an S-W wnro-
ilitios
- 4,000,000
houso in nonriy orory
Dyo businoaa - 2,500,000
city over 300,000
(jroafcJ
No one holds moro thi.ii
2,500 sharos. Now have
145,000 sharos proforrod,
, 3,000 holders* item hovo
636,000 sharos oontmon,
3^500 holders, Proferred
$106 to $-13; oommon $84 :
to $100 this yoar
1933 Synthetics dovoloped to $2,000,000 gross now 50# of all S-W varnishes and onamols. Not expected to replaoo houso points
1938 15,000 active paint > formulas
1938 Capital and surplus _ $49,000,000
Output 15,000,000 gallons
0007-SWP-000004914
Later Developments
Ho t ? Alliod Lab. Bldg, in Chioago
1936 -Improvement in Lithopono; Chicago and Coffoyvillo
Chioago sprinkler equipment onlnrgod - tanks, pumps, oto, Bofining of turpontlno startod in Chioago,
1937 - How Dry Color Bldg, in Chioago and enlargement of manufacturing development of Pulp Colors. Dovolopment of Castor Oil troatmont, Newark and Clovoland.
1938 - Purehasod ship yard in Gloucostor Clty, Now Jorscy,
and Burgess patonts for Titanium Oxido manufacture.
Haw S^nthotio Rosin Plant at Chioago. H. E. Van
Stono made Vioo-Prosidont and' Diroctor of Operations,-
Brought out an undorooator for ST*.
Closod Dry Color Plant at Gibbsboroi transferred busi-
noss to Chioqpioi entire plant operations transferred
to S-W under G, L, Hohl,
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N11838.01
0007 SWP-000004915