Document EvDnEvjxm928Xojayj2vo7mL0

1665 Henry Alden Sherwin started retail paint store. Born in Balti more ,Vt.1342, At 18 worked in dry goods store in Cleveland, 1670 Edward Porter Williams 1870 as partner. The salesman - a Clevelander from Ohio Western Re serve College former ly in small glass bus iness Contributed $2,000 capital 1870 Sereno P.Fenn - account ant 1873 Started paint factory 601 Canal Road - old cooperage shop - 2 1874 Output 450,000# mixings story briok 1st year - 3,000 sq.ft. --------------------------------------------------------- floor area 1876 Mr.Sherwin developed Total paint business first good mill. Print- $20,000,000 per year ijog facilities aoqvired. First paint company to have ohemical laboratory 1881 First convention held She twin,Wi 11 iams,Fenn , 3 other exeouuives and $ salesmen. Discontin ued retail business 1883 1884 Hired first ohemist in the Industry. Cleveland Plant destroyed by fire \ 1884 The Sherwin-Williams Co. incorporated $750,000 capital,issued 3,000 shares $100 cozonon stack 1st year sold $539,00 gross, $36,000 net profit i 1888 Purdiased Calumet Paint Co.Chicago,34 acres. Established offioes B 1867 D.R.*verlll ' patented a poor prepared paint and gave it a bad name. ;fe *1 1874 83 formulas (first raw umber in oil) . '1885 Varnish and Enamels 1886 Roof and Bridge Railway and Marine 1 .3' r*-vr T' . -t. W- M , / T .1 -"t V-- - T>* f f > -i-ju i .'* ? e > * % r. \-r. r > r. 1 r. . * . A 3 ' r -.* r <r; 0007-SWP-0059389 Biographical, eto Output,Capital & Earnings New Products and warehouse In New York# Boston agent Cottingham,Mont real 1890 First publicity man, George Ford, started advertising 1852 Drew "Cover The Earth" design and laid on desk 1B9Q Learned value of control ling supply of raw mat- . erials 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. Warehouses at Minneapolis and Win nipeg. Sales office at Los Angeles 1902 3,000 shares increased to 25,000 1902 Built Linseed Oil Mill at Cleveland Acquired Lewis Berger & Sons Ltd. (1760) 1903 10,000 shares $100 preferred issued 1903 Cottingham made Vice- President. Dry Color Plant started in Chi cago. Mr. Williams died at 60 years. Built sales organisa tion. t 1894 Buggy Paints and Enamels 1896 Driers,Japans and Dry Colors (Cleve land) 1097 Copper Paint and Oil Stains 1898 Porh,Deek and Screen Paints 1859 Full line of Varnishes 1304 Started mines at Magda lena, 245 acres, 4 miles passages, 320 cores non mineral ground. Plant capacity now 4,000 Tons ore per month .*.905 G.A .Martin made manager Auxiliaries. Montreal Linseed Oil and Varnish Plant begun. Sales of fices Portland, Savannah 1907 Enlarged Chicago plant ill 0007-SWP-Q059390  V* t / i L *? t 0007-SWP-0059391 Biographical, etc Output,Capital k Earnings New Products 1908 Sales offioes Seattle, 1908 Cap^-tal $6,000,000 Spokane 1909 Sales offioes Houston, 1909 New Orleans 1909 Mr.Sherwin retires to be Chairmani Mr,W.5,Cot- tingham,President, 1909 merged Canadian plant. An Ontarian hardware olerk, stiff determina tion but chilly British peliteness No public financing done so far, S.P.Fenn still treasurer Sales $7,642,000 1910 Detroit Nhite Lead ac quired. Chicago Old Dutch Plant erected Dry Color built in Newark; also lima sulphur 1911 S-W Co, of Canada formed for Canadian operations; also Lewis Berger k Son, England 1912 Ore separator built at Magdalena 1913 1914 Coal Tar products and dyes started Chicago, eventually specialized in reds Capital $9,000,000 Gross sales $11,000,000 Earnings 930,000 1916 50th Anniversary - S.P.1916) Capital increased to Farm retired, Mr. Sher- ) 30,000,000, as fol- win dies, age 74. 1921) lows: 1917 Acquired Martin-Senour 1917 Sold to public for first of Chicago and Nebraska, time Enlarged Lithopone, Coal 100,00 preferred-15,000 Tar, IV Plant end Aoet- 100,00 common -70,000 io Acid, Chicago. Began 100,00 preferred-20,000 Acetio Acid in Bound 1918 Raised $2,000,000 for IV Brook, Paint k Varnish plant by offering stock- and Insecticide in Oak- holder up to 30?? of their land holdings 1919 Mr ."Whittlesey made Director of Sales. 1919 Vice-Presi dent and Manager Sales. Purchased Hemingway k Cou Bound Brook, N. J, !'ikUMi 0007-SWP-0059392 <% * - t t f -4 ______Biographicol,eto. Output,Capital A Eqrnli^s 1920 Purchased Acme White 1920 Lead. & Cjlor Works, Def.ro it, Dal la s. Bo sten & 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.cottvn per gal. in plaoe of 6 oz.per gal.some fluidity, in short, 'lew viscosity cotton developed. Formerly took 20 days to finish car, now 3 or 4} made 5,000,000 cars a year possible (1929) - 1935 auto provides 10?? of all paint business Exchanged four $24.00 shares common for one $100.00; de clared stock dividend of 50$. 30,000 shares sold to employees-only suoh plan ever used Sold 150,000 shares $100*00 par 7$ Preferred to retire previous issues to expand plant and purchase Acme, largest subsidiary. Wow 400 common stookholdersno earning statements so far 1921 G.A.Martin Vice-Presi- 1921 Deficit $2,300,000 - only dent and General Man- one in history ager 1922 Cottingham,Chairman - 1922 i3 Martin, President. } * Warehouse fire in Chicago. Transferred to Pershing Rd, CP nitrator exploded Chicago. Lacquer fire 2 men killed Earnings $2,700,000 1925 Sales force 700 - 100 1925 warehouses 1927 S.P.Fenn died - age 62 1927 Sales $55,-166,000 Output 344,000,000# 52 plants, 650 aoroa 2,500,000 sq.ft, * 7> Preferred called in New Issue 6$-150,000 $100.,,00 Preferred 1920 000 for l MW Lead Stacks, Chicago 1929 1929 Executive offices to Midland Bank Building Sold 40,000 common,37,000 Preferrod to buy Low Bros.,Dayton, scoond largost subsidiary 1930 Cottingham died - 64 years 1930 Paid $500,000 for central John Luoas New Products 0007:SWP-0059394  ~ 5 Biographical, etc. Output,Capital & Earnings . New Products 1931 Control of !3-W of Canada by o-rchnngo of stock Gross S^los Net Earnings 1929 1930 1931 1932 1933 S-W now leads refin- 1933 ishing fiold in auto 1934 but pays DuPont 6^ gal. royalty on Laoqucr In 1934 paid $400,000 1935 Of 1,400 paint companios, S-W has 16$ of business. Total paint bill of 1935 TSi $350,000,000 an* nually. 40,000 indus trial products in S-W formulas; an S-W ware house in nearly every city over 100,000 $76,000,000 75,000,000 64,000,000 47,000,000 47,700,000 55,800,000 $6,000,000 3,600,000 3,200,000 703,000 3,200,000 4,300,000 This year 125,000 Tons paints, 20,000 Tons In secticides, 80,000 Tons pigment, 22,000,000 tin eons Curront assots-$28,000,000 In cash and government securities - $8*700,000 Current liab ilities - 4,000,000 Ityo business - 2,500,000 No one holds moro than 2.500 sharos. Now havo 145.000 sharos preforrod, 3.000 hfeldcrs; now have 636.000 sharos common, 3.500 holders; Proforrod $106 to $113; oommon $84 to $100 this yoar 1933 Synthotios dovoloped to $2,000,000 gross now 50$ of all S-77 varnishos and onamels. Not expected to roplaoo houso paint s 1938 15,000 activo paisfc formulas 1938 Capital and surplus - $49,000,000 Output 15,000,000 gallons COfDESM 0007-SWP-0059396 * * i f*> 4 L %% * i \ I 0007-SWP-0059397 Later Developments v. 1935 - How Allied Lab, Bldg, in Chiongo 1936 - Improvement in Lithopono, Chicago and Coffoyvillo Chicago sprinklar equipment onlargod - tanks, pumps, otc. Rofining of turpentine startod in Chioago. . 1937 - Hew Dry Color Bldg, in Chioago and enlargement of manufacturing dovolopmont of Pulp Colors. Develop ment of Castor Oil trontmont, Newark and Cleveland. 193B - Purchased ship yard in Glouoostor City, New Jersey, and Burgess patonts for ..Titanium Oxide manufacture, . New Synthotic Rosin Plant at Chioago, N. E. Van Stone made Vioo-Prosidont and Dirootor of Operations, Brought out an undorooator for S'TP, Closod Dry Color Plant at Gibbsboroi transferred busi ness to Chioqgo; ontirc plant operations transferred to S-W under G. L. Hohl, anm 0007-SWP-0059398 v / !: v rri v* r- * 1* j T. >i t* * 0007-SWP-0059399