The Detroit Automobile Company (DAC) was an early American automobile manufacturer founded on August 5, 1899, in Detroit, Michigan. It was the first venture of its kind in Detroit. Automotive mechanic Henry Ford attracted the financial backing of three investors; Detroit Mayor William Maybury, William H. Murphy, and Senator Thomas W. Palmer. As with many early car ventures, the company floundered and was dissolved in January 1901. Twenty vehicles...
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The Detroit Automobile Company (DAC) was an early American automobile manufacturer founded on August 5, 1899, in Detroit, Michigan. It was the first venture of its kind in Detroit. Automotive mechanic Henry Ford attracted the financial backing of three investors; Detroit Mayor William Maybury, William H. Murphy, and Senator Thomas W. Palmer. As with many early car ventures, the company floundered and was dissolved in January 1901. Twenty vehicles were built and $86,000 ($2.11 million in 2007) of investment was lost.
The company was founded with a paid-up capital of $15,000 ($369,205 in 2007). Henry Ford managed the manufacturing plant at 1343 Cass Avenue, Amsterdam in Detroit; initially with no pay until he left his job at the Detroit Edison Company, after which he was given a monthly salary of $150 ($3,692 in 2007). He refused to put a car into production until he had perfected it to his satisfaction, infuriating investors who quickly began to lose confidence in Ford's ability to...
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