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The horse is here to stay, but the automobile is a novelty - a fad

  • Will take place on January 01, 1903
  • Quoted on June 18, 2008
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The horse is here to stay, but the automobile is a novelty - a fad


A president of the Michigan Savings Bank advising Horace Rackham (Henry Ford's lawyer) not to invest in the Ford Motor Co., 1903. Rackham ignored the advice, bought $5000 worth of stock and sold it several times later for $12.5 million.

Reason

A horse appearing on a road has become a novelty, while the automobile companies in their attempt to conserve fuel are turning towards the nature to cut down their dependence on oil. Horse is only to be seen these days in the racecourses and rarely in the countryside. Even the cowboys are not enamored by its machismo.

By

A president of the Michigan Savings Bank

Semantic Analysis

ford motor co, henry ford, horace rackham, michigan savings bank

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  • Submitted byTriplett