Ransom Eli Olds

Ransom Eli Olds. . , A Brief History , Ransom Eli Olds was born in Geneva, Ohio in 1864 on the family farm. At an early age he decided that life would be better without horses. He began tinkering with engines in his spare time while working at the P.F. Olds and Son machine shop that his father and brother had established after the family moved to Lansing in 1880. The first successful product of the shop was a small gasoline-fueled steam-engine. The first self-propelled vehicle was a three-wheeled cart built in 1887 followed by a four-wheeled vehicle, both propelled by the company’s steam engines. The four-wheeled vehicle became the first U.S. made motor vehicle to be bought by the Times Company in India., In 1896, Olds built his first internal combustion-powered vehicle, which became the foundation of Oldsmobile in 1897. The company was able to survive with very limited vehicle sales supported by the stationary engine business until the advent of the curved dash runabout in 1901. The curved dash became the highest volume auto in the world, requiring many innovative manufacturing techniques, including a progressive assembly line. Due to business decisions being made by the majority investors, he severed all connections to Olds Motor Works early in 1904. His ‘retirement’ was brief. Later in 1904, Olds founded REO Motor Car Company in Lansing and was in charge. In 1910, he established REO Motor Truck Company. It was a success from the start. Although REO passenger car production ended in 1936, trucks were made until 1975., Even with all his business activities, Olds, with his wife Metta and their two daughters, were often able to travel around the U.S. and overseas. They had a summer home on Grosse Ile near Detroit, and later in northern Michigan and a winter home in Fort Lauderdale, Florida. The homes allowed Olds to pursue his passion of yachting, owning many boats over the years., Although he was active on and off in REO management through 1936, he found time to establish his own town of Oldsmar, Florida, a planned community for working people which was a failure, losing millions of dollars. In addition, he and Metta funded a clubhouse for Lansing women’s clubs and established a retirement home for clergy in Florida. They provided funds to rebuild the engineering building at Michigan State College, the first privately funded building on campus and supported building projects at other colleges. Olds also financed the construction of a 31 story office building and a 350 room hotel in Lansing., He was active in the Baptist church, funding an addition, donated a Boy Scout camp in northern Michigan and established the R.E. Olds Foundation that continues to fund community projects., Both Olds and Metta died in 1950 and are interred in Lansing’s Mt. Hope Cemetery.