American automobile industry in the 1950s
In 1954, the smaller American Motors Corporation (AMC) was formed when Hudson merged with Nash-Kelvinator Corporation in a deal worth almost USD $200 million ($1.735 billion in 2013 dollars) the largest corporate merger in U.S. history at that time. Other mergers with smaller independent manufacturers followed. Although AMC was moderately successful it was never sufficiently large to challenge any of the Big Three, and was eventually bought by Chrysler in 1987.
William Howard Hoople
In April 1908 Hoople was a part of a consortium that founded the Circle Publishing Company with its headquarters in the Society for the Prevention of Cruelty to Animals building at 15 West 26th Street and 50 Madison Avenue in New York city, and purchased "The Circle" magazine (founded 1906) from the Funk & Wagnalls Company, with Hoople becoming the founding vice president and treasurer, and Eugene Thwing (born in Quincy, Massachusetts on January 17, 1866; died in Ridgewood, New Jersey on May 29, 1936), editor of "The Circle" since its inception, becoming president. However, by 1910 the magazine failed, and was eventually sold in 1911 to the Thwing Company founded by Eugene Thwing. By 1909 Hoople was a director of the New York branch of the Cerebos Salt Company (founded in 1894), which had its registered office at 50 Ferry Street, New York, and appeared on the US market about 1904. By 1916 Hoople was the president of the Interstate Electric Corporation. By 1911 Hoople was listed as a director of the Spider Manufacturing Company, which made components for bicycles and automobiles, and was headquartered in his property at 50 Ferry Street, New York City. In 1916 Hoople was the founding president and one of the leading businessmen in a consortium that helped capitalize the American Motors Corp. founded by Louis Chevrolet in Plainfield, New Jersey. Hoople was president of American Motors until his death in 1922. On January 25, 1917 the Hoople Corporation, which sold "metal polish, drugs, medicines, chemicals, baking powder, soaps, [and] groceries" was incorporated in New York state with $30,000 capital.