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July 8, 1922 issue of Automobile Topics:
“Diamond Cab Allied With Gray and Ace
“Frank L. Klingensmith and Associates
Prominent in New
Taxicab Project – Senator Owen Is President – Operating Company Formed
In New
York.
“With the formation of its first operating
company in New York
City, more of the details regarding the Diamond Taxicab Company Co.
become
known. This is the company with which Frank L. Klingensmith and others
closely
associated with him in the Gray and Ace car and Guy engine projects,
are
identified. An option has been secured on a plant near Ypsilanti,
Mich., the
home of the Ace and Guy enterprises, and deliveries are expected in New
York
within two or three weeks at the rate of ten taxicabs a day.
“Senator Robert L. Owen of Oklahoma, is
president of the
Diamond Taxicab Co., the manufacturing company, and is also a director
of the
Guy Disc Valve Motor Corp. He and the following constitute the board of
directors: Klingensmith, president of the Gray Motor Corp., and
identified with
the Apex Motor Corp.; Harry T. Hanover, president of the Apex company
and a Guy
director; O. D. Heavenrich, former engineer with Detroit Pressed Steel
Co., and
now secretary and director of the Guy company; Fred H. Lewis, president
of
Lewis Spring & Axle Co.; and Frank F. Beall, vice-president and
general
manager of the Gray corporation and a Guy director. Capitalization
consists of
$500,000 eight per cent cumulative preferred and 100,000 shares of
no-par
common stock.
“Nat D. Jacoby, president of the Black &
White Cab Co.,
New York city, is the accredited originator of the whole Diamond
project. While
he is not given any official title, it is stated that he is the
‘guiding genius’
in both the manufacturing and New York operating companies.
“The operating company in New York City is
to be known as
the Diamond Taxicab Co., Inc. It has contracted for an initial unit of
250 cabs
and announces that it will operate its cabs at the lowest tariff of any
city in
the country. Its plans include model garages with club rooms, swimming
pool,
billiard rooms and like accommodations for the comfort of its
chauffeurs.
“William T. Hawley, vice-president of the
Minneapolis &
St. Paul Railroad, is president of the New York operating company;
Stephen
Peabody, Jr., of Stephen Peabody & Co., is secretary; H.M. Gaylord,
vice-president of Julius Kessler Co. is treasurer. The directorate
includes
these officers and the following: R. R. Moore, president of Commercial
Trust
Co. and former city chamberlain; and Brigadier General S.T. Hines,
former chief
of the transport service, U. S. A.
“The Diamond cab itself will sell
for less than
$2,000; possibly between $1,900 and $1,950. This price includes a town
body
with collapsible top, 31” x 4” cord tires, disc wheels and one spare
wheel and
tire, lights, battery, magneto, generator, Stewart-Warner hand horn and
tools.
The body is wide and low with little glass. It is made with removable
panels
for quick replacement in case of accident. Upholstery is also
removable,
permitting washing out every morning in a few minutes’ time. The cab is
powered
by a four-cylinder Herschell-Spillman engine.”
August 12, 1922 Automobile Topics:
“DIAMOND CAB STARTS UNDER NEW PROGRAM
“Nat Jacoby Assumes Full Charge — Gray
Officials Disclaim
Active Part—Holding Company Being Formed—Cab Seen as Revolutionizing
Business.
“Whereas it was at first understood that
interests
affiliated with the Gray and Ace enterprises were connected with the
Diamond
taxicab project, recently disclosed, these now disclaim the allegation.
Furthermore, the week brings forth the intelligence that an entirely
new
program, including the formation of a parent, or holding company as yet
unnamed, is under way and nearing completion. In its new guise, the
taxicab
project centers around Nat D. Jacoby, president and general manager of
the Black
& White Cab Co., New York, who heretofore was described as the
‘guiding
genius’ in both the manufacturing and operating companies.
“It appears that Jacoby has purchased the
first sample cab
(which for purpose of identification is referred to as the
Diamond,
although a new name is to be adopted) also blue prints and
manufacturing
rights. He assumes full charge of the management of the manufacturing
and
operating ends of the business.
“Within the next ten days it is expected
that details of the
new parent company will be completed. This company is being formed to
operate
taxicabs, motor buses and trackless trolleys; in fact will cover the
whole
field of motor passenger transportation. It will organize eventually in
every
city of size in the country, subsidiary operating companies.
Organization of
the holding company and underwriting is being directed by Prichitt
& Co.,
60 Broadway, New York, investment brokers.
“The first of these companies, the Diamond
Taxicab Co. Inc.,
operating in New York city, stands as recorded in these columns of July
8, with
the executive personnel given at that time. This Company expects to
have its
first cab on the streets of New York within ten days.
“It now develops that the taxicab is to be
assembled in the
plant of the Driggs Ordnance Co. at New Haven, Conn. Parts will be made
outside, of course, on special specifications.
“The cab itself, as described by Jacoby,
offers radical
changes over conventional taxicabs of today. These, as he sees it, will
revolutionize the taxi business to the combined benefit of operators
and
public.
“Briefly, the whole idea of the new taxicab
is to effect
economies that will reduce the fare without diminishing the operator’s
profits.
In fact, so confident of his development is Jacoby that he sponsors the
statement that his cab will ultimately enable operators to charge 10
cents a
mile against the 30 and 40 cents now charged fairly uniformly
throughout the
Country.
“In the first place, the engine of the new
cab is termed the
lightest ever used in taxicabs, with the excess horsepower of the
conventional
engine eliminated. Throughout the entire cab weight is being reduced,
commensurate with the requirements of a two-passenger load.
“Out of his experience as one of the
Country’s largest taxi
operators, Jacoby states that 90 per cent of the taxicab ‘fares’
include not
more than two passengers. His argument is that the conventional cab
designed
and built for five-passenger loads entails excessive operating costs
which can
be cut in half, or even more, with a two-passenger capacity cab. The
economies
of his 2,250-pound cab over a conventional 3,600-pound five-passenger
job are
obvious, assuming that none of the other vital factors are sacrificed
iii attaining the light weight. A saving in weight is also being
effected
through the body, which is landaulet type.”
October 5, 1922 Automotive Industries:
“Diamond Cab Built by Driggs Company
“Contract Given to Produce Vehicles—Expected
Production of
2,000 Within Year
“NEW YORK, Oct. 2 — Driggs Ordnance &
Manufacturing Corp.,
with a plant at New Haven, Conn., whose connection with the automobile
industry
has been featured by the production of the Driggs passenger car, has
contracted
with the Diamond Taxicab Co. of New York to produce the vehicles which
this new
concern will put into operation. It is expected that 2000 taxicabs will
be
turned out inside the next year.
“Inasmuch as the Diamond Company has
announced that it will
furnish transportation at 20 cents a mile, Driggs has been called upon
to
produce a light vehicle that will give from 20 to 25 miles to the
gallon in the
way of fuel consumption and capable of economical operation.
“Engine Like Driggs
“The Diamond taxicab is powered with the
same four cylinder
engine that is used in the Driggs passenger car, an L head type with
block cast
cylinders 2% x 4%. The chassis, however, has been especially designed
to meet
the demands of taxicab operation. The wheelbase is 108 ½ in., with the
frame
pressed steel and 2 in. alloy steel springs. The front axle is a drop
forged
I-beam section of 40-50 point carbon steel, and the rear axle, of
Driggs
design, is of the three-quarter floating type. Cooling is thermo syphon
and
lubrication pump and splash. The carburetor is a Zenith and the
ignition
American Bosch. The weight of the chassis is 1,400 lb. and the taxicab
complete
weighs 2,200 lb.
“The body is made of 22 gauge steel and is a
landaulet of
peculiar design, to meet taxicab conditions. One of the features is a
removable
panel in the rear which permits of replacement of that part in case of
collision damage without forcing the cab to go to the repair shop. The
official
colors of the Diamond cabs are to be blue and white.
“Price $1,950 in New York
“The Diamond Taxicab Co., for which this
vehicle is being
built, will sell it to the individual taxicab operator for $1,950,
delivered in
New York City. If desired this will be sold on time payments, one third
down
and the balance paid in daily installments, which are taken out of each
day's
receipts as reported by the driver. It is the intention of the Diamond
company
to extend its operations to other large cities.
“The financing of the Diamond company is
being handled by
James L. Moore of Hayes, St. John & Moore. The offering is 25,000
shares of
first preferred 8 per cent cumulative stock at $10 a share and 25,000
shares of
common at $5 a share. For each share of preferred stock subscribed at
$10, one
share of common will be allotted at $5 per share.
“Officers of the company are: President,
William P. Hawley,
vice-president of the Minneapolis & St. Louis Railroad; treasurer,
H. M.
Gaylord, vice-president, Julius Kessler Co., New York City and
secretary,
Stephen Peabody, president, Stephen Peabody & Co., New York City.
They,
with General F. T. Hines, formerly chief of the transportation service
of the
War Department, United States Army, and R. R. Moore, president of the
Commercial Trust Co., New York, constitute the board of directors.”
October 26, 1922 issue of Automotive
Industries:
“Contract Between Driggs and Diamond Cab
Voided
“New York, Oct. 23. – Deciding to do the
marketing of its
product itself, the Driggs Ordnance & Manufacturing Corp.
announces
the annulment of its contract with the Diamond Taxicab Co. which called
for the
manufacture of taxicabs to equip the fleets to be put out by the
Diamond
company. This has resulted in the formation of
the Driggs Taxicab
Corp. which will manufacture taxicabs in the plant of
the Driggs Ordnance Corporation at New Haven. It is planned
to turn
out 1000 cabs the first year.
“A selling organization is being perfected
to handle this
product. It will be known as the Driggs Taxicab Sales Co.,
with E. E.
Garrison in charge of sales. Its headquarters will be in New York,
probably at
19 West 44th Street, the present location of
the Driggs Ordnance
& Manufacturing Corp.
“The Driggs taxicab will sell at
$1,950 f.o.b. New
York, and the selling plan will be based on time payments to the
drivers
direct.”
October 28, 1922 edition of Automobile
Topics:
“New Elcar Taxicab Is Landaulet Type
“To meet the demand of taxicab service in
cities where taxis
are used largely for sight-seeing trips the Elkhart Carriage &
Motor Car
Co. has designed a landaulet body for its Elcar six cylinder taxicab
chassis.
The top is readily lowered giving the cab a distinctive appearance. For
theatre
parties the generous interior room and comfort make the cab ideal. The
Elkhart
company has been building coaches for fifty years.”
November 4, 1922 Automotive Industries:
“DRIGGS TO PRODUCE ITS OWN TAXICABS
“Ordnance Manufacturer Decides to Make and
Sell Cabs for Own
Account—Col. Garrison Heads Sales Company - Diamond Plans Remain
Unchanged.
“Driggs Ordnance & Mfg. Co. is to
make and sell
taxicabs on its own account. The decision is an outgrowth of
negotiations
whereby the concern was to build the new Diamond taxicab, as noted some
weeks
ago. Accordingly two new companies have been formed, closely allied
with the
Ordnance company, which is also manufacturer of
the Driggs car.
“As the line-up now stands,
the Driggs Taxicab
Corp. will build in the New Haven, Conn., plant of
the Driggs Ordnance & Mfg. Co., the Driggs taxicab,
which
will be sold by the Driggs Taxicab Sales Co., Inc., New York.
Plans
of the Diamond taxicab company, behind which is the guiding hand of Nat
Iacoby,
president of the Black & White Cab Co., New York, are to be carried
out as
originally reported.
“Directing the sales of the newly
organized Driggs Taxicab Sales Co., Inc., and prominent in
its
organization, is Col. Elisha E. Garrison of the New York engineering
and
auditing firm of Garrison & Co. The Driggs cab is to have
a power
plant similar to that used in the car of that name and a special
taxicab
chassis. Cabs are expected through the plant in about three weeks.
“In response to an inquiry regarding the
present status of
the Diamond taxicab plans, an authoritative source in close touch with
that
project gave AUTOMOBILE TOPICS the following statement:
“‘The design of the taxicab which was to be
adopted by
the Diamond Cab Co. was decided upon two or three months ago,
yes,
even a year ago. The contract for manufacture of the cabs was allotted
to two
or three manufacturers, among them the Driggs Ordnance & Mfg.
Co. That
company proposed the adoption of a new Driggs engine which is
claimed
to give 30 miles to the gallon of gasoline.
“‘In respect to the adoption of this motor,
some of the
manufacturers were reluctant to use some other power plant. Apparently,
then,
seeing that their motor was not to be adopted at
once, Driggs has
decided to make its own taxicabs.
“‘Original plans of the Diamond company are
merely held in
abeyance, pending negotiations regarding the installation of
the Driggs motor. So far as the Diamond taxicab plan is
concerned,
Diamond gave them the blue prints and plans and worked with them in
building
the Diamond cab - a pioneer in light weight cabs. Design and
construction all started with Diamond.’”
Unhappy with Driggs’ decision to market
their own line of
taxicabs, the Diamond Taxicab Co. of New York, elected to take their
business
elsewhere, selecting the Elcar Motor Co., which was already producing
taxicabs
for an associated Diamond organization in Chicago. A photograph of the
A.M.
Graffis-designed Elcar Landaulet taxicab appeared in the November 14,
1922
issue of Motor Age with the following caption:
“New Elcar Landaulet Taxi - This new Elcar
Landaulet is a
special job designed for the taxicab business in New York City.”
The pictured vehicle was the very same
design that Elcar
produced for Diamond, with news of their contract being announced in
the December
14, 1922 Motor Age:
“Elcar Makes Diamond Cabs
“ELKHART, Ind. Dec. 11 - Contracts have been
signed by the
Elcar Motor Co. of this city and the Diamond Taxicab Co. of New York
City under
which the local concern will build the vehicles which will be operated
by the
New York organization. The Diamond company's initial order is for 1000
taxicabs
of the landaulet type and it is expected that the first shipment of
five
carloads will go east within a week. The cab is the creation of A.M.
Graffis,
the Elcar engineer, and the feature of it is an adjustable top which
can be
quickly lowered without interfering with protection from wind and dust
from any
angle. After the New York installation, the Diamond company plans to
invade
other big centers like Boston, Philadelphia, Washington and Baltimore.”
The 1,000 unit contract with Diamond called
for the delivery
of 100 cabs per month, which made it the largest operator of Elcar
taxicabs,
with Chicago second. The rest of the firm’s output during the year went
to
smaller operators in Buffalo, Long Island City and St Louis.
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