Parry Auto Company
Encyclopedia
The Parry and New Parry (1911-1912) were both Brass Era car
s built in Indianapolis, Indiana
by the Parry Auto Company.
For almost two decades prior to the official release of his Parry car in 1910, David MacLean Parry experimented making other cars
. His brothers and partners in the Parry Manufacturing Company preferred to stay with carriage
s, so these early cars were not put into production. These same brothers would later finance the Comet cyclecar
. In 1906, David Parry gained control of the Overland Company
, and thus officially got into the auto business. By 1908, he sold the company to John North Willys, since Parry had lost everything, including his house, in the Panic of 1907
.
By July 28, 1909, Parry had recovered financially enough to establish the Parry Auto Company. He was sure he had the secret to success in the automotive field. He would learn from the mistakes of others (and himself), building only two models. These would be built in adequate numbers to offer them at a low enough price that would ensure success. The new company occupied seven large structures leased from the Standard Wheel Company in Indianapolis. The beginning payroll
included 389 employees, but plans were laid to expand that number to 3000. "Now, if the Parry Auto Company can turn out 5,000 cars for the year 1910, it will have established a world's record for the first year of any such business," David Parry stated. Parry did not achieve this lofty goal and renamed the vehicle the New Parry in 1911, the only new thing being the higher price. The next year, the company changed names to the Motor Car Manufacturing Company, and production of the Pathfinder
commenced. For a short while, both the New Parry and Pathfinder were made in the same factory, until New Parry production was terminated.
The problem with David Parry and his company had been a case of dreaming big and over-optimism. The company was capitalized
for USD$
1,000,000, but only USD$150,000 had been paid in. Most of that smaller amount was spent the first year on advertising
and equipment purchases. There were only 900 cars sold in 1910, thus resulting in a substantial loss. The company was in receivership by late December 1910. David Parry died in 1915, after contracting an illness while overseas with the Foreign Trade Commission of the National Association of Manufacturers
.
Brass Era car
The automotive Brass Era is the first period of automotive manufacturing, named for the prominent brass fittings used during this time for such things as lights and radiators. It extends from the first commercial automobiles marketed in the 1890s until about World War I...
s built in Indianapolis, Indiana
Indianapolis, Indiana
Indianapolis is the capital of the U.S. state of Indiana, and the county seat of Marion County, Indiana. As of the 2010 United States Census, the city's population is 839,489. It is by far Indiana's largest city and, as of the 2010 U.S...
by the Parry Auto Company.
For almost two decades prior to the official release of his Parry car in 1910, David MacLean Parry experimented making other cars
Automobile
An automobile, autocar, motor car or car is a wheeled motor vehicle used for transporting passengers, which also carries its own engine or motor...
. His brothers and partners in the Parry Manufacturing Company preferred to stay with carriage
Carriage
A carriage is a wheeled vehicle for people, usually horse-drawn; litters and sedan chairs are excluded, since they are wheelless vehicles. The carriage is especially designed for private passenger use and for comfort or elegance, though some are also used to transport goods. It may be light,...
s, so these early cars were not put into production. These same brothers would later finance the Comet cyclecar
Cyclecar
Cyclecars were small, generally inexpensive cars manufactured mainly between 1910 and the late 1920s.-General description:Cyclecars were propelled by single cylinder, V-twin or more rarely four cylinder engines, often air cooled. Sometimes these had been originally used in motorcycles and other...
. In 1906, David Parry gained control of the Overland Company
Overland Automobile
-History:The Overland Automobile "runabout" was founded by Claude Cox, a graduate of Rose Polytechnic Institute, while he was employed by Standard Wheel Company of Terre Haute, Indiana, USA, in 1903. In 1905, Standard Wheel allowed Cox to relocate the Overland Automobile Company to Indianapolis,...
, and thus officially got into the auto business. By 1908, he sold the company to John North Willys, since Parry had lost everything, including his house, in the Panic of 1907
Panic of 1907
The Panic of 1907, also known as the 1907 Bankers' Panic, was a financial crisis that occurred in the United States when the New York Stock Exchange fell almost 50% from its peak the previous year. Panic occurred, as this was during a time of economic recession, and there were numerous runs on...
.
By July 28, 1909, Parry had recovered financially enough to establish the Parry Auto Company. He was sure he had the secret to success in the automotive field. He would learn from the mistakes of others (and himself), building only two models. These would be built in adequate numbers to offer them at a low enough price that would ensure success. The new company occupied seven large structures leased from the Standard Wheel Company in Indianapolis. The beginning payroll
Payroll
In a company, payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons...
included 389 employees, but plans were laid to expand that number to 3000. "Now, if the Parry Auto Company can turn out 5,000 cars for the year 1910, it will have established a world's record for the first year of any such business," David Parry stated. Parry did not achieve this lofty goal and renamed the vehicle the New Parry in 1911, the only new thing being the higher price. The next year, the company changed names to the Motor Car Manufacturing Company, and production of the Pathfinder
Pathfinder (1912 automobile)
The Pathfinder was a Brass Era car built in Indianapolis, Indiana from 1912 to 1917.After the Parry Auto Company passed into receivership in 1910, the Motor Car Manufracturing Company was created by its creditors. That particular name was chosen as they had not decided what to name their new...
commenced. For a short while, both the New Parry and Pathfinder were made in the same factory, until New Parry production was terminated.
The problem with David Parry and his company had been a case of dreaming big and over-optimism. The company was capitalized
Market capitalization
Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
for USD$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
1,000,000, but only USD$150,000 had been paid in. Most of that smaller amount was spent the first year on advertising
Advertising
Advertising is a form of communication used to persuade an audience to take some action with respect to products, ideas, or services. Most commonly, the desired result is to drive consumer behavior with respect to a commercial offering, although political and ideological advertising is also common...
and equipment purchases. There were only 900 cars sold in 1910, thus resulting in a substantial loss. The company was in receivership by late December 1910. David Parry died in 1915, after contracting an illness while overseas with the Foreign Trade Commission of the National Association of Manufacturers
National Association of Manufacturers
The National Association of Manufacturers is an advocacy group headquartered in Washington, D.C. with 10 additional offices across the country...
.