John S. Gray

John Simpson Gray (October 5, 1841 – July 6, 1906) was a candymaker, business man, and banker from Detroit. He was also an original investor in and the first president of the Ford Motor Company.

Early life John S. Gray was born in Edinburgh, Scotland, on October 5, 1841, the son of Philip C. and Amelia Gray. In 1849, the family emigrated to the United States and settled on a farm in Wisconsin. However, Gray's father decided farming was not a suitable profession, and in 1857 the family moved to Detroit.

With this wealth, Gray widened his business interests. He went into the lumber business with Orin W. Grover, incorporating as "Grover and Gray," doing business in Cheboygan, Michigan, and Detroit. He was also a director of the Detroit Trust Company, the Detroit Photographic Company, and the Norris Kollar & Kuff Company, and was the president of the Detroit Library Commission.

Gray eventually sold Gray, Toynton & Fox to the National Candy Company in 1903.

Ford Motor Company Stock certificate of the Ford Motor Company of Canada, Ltd., issued 17 December 1904, signed by President John S. Gray In February 1903, John S. Gray was approached by his nephew Alexander Y. Malcomson, a frequent financing customer at Gray's German-American Savings Bank. Malcomson was a coal dealer, but had set up a separate partnership, Ford and Malcomson, with Henry Ford to manufacture an automobile. However, Ford and Malcomson had absorbed more money than expected, and the manufacturing firm of John and Horace Dodge, who had made parts for Ford and Malcomson, was demanding payment. Malcomson proposed incorporating the company to bring in new investors, and wanted Gray to join the company, thinking that Gray's name would attract others to invest.

Gray was at first disinclined to accommodate Malcomson, but Malcomson promised he could withdraw his share at any time, so Gray reluctantly agreed to invest $10,500 in return for a 10.5% stake in the company. Gray's estate, however, retained control of his shares in the company, until Henry Ford bought them in 1919. For the 16 years that Gray and his heirs owned their stake in the company, they received total dividends of $10,355,075. When the estate finally sold his shares to Henry Ford, the price was $26,250,000, making a total return of $36,605,075 on Gray's $10,500 initial investment.