Wednesday 28th July 1909
David Maclean Parry established the Parry Automobile Company in Indianapolis. Previously, the Parry Manufacturing Company had produced carriages. Parry was certain that he had the secret to success in the automotive field. He would learn from the mistakes of others by building only two models. These would be built in adequate numbers to offer them at a low enough price that would ensure success. “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 main difference between the two was the higher price. In 1912, the company changed names to the Motor Car Manufacturing Company, and production of the Pathfinder commenced. The problem with David Parry and his company had been a case of dreaming big and over-optimism. The company was capitalized for US$1,000,000, but only US$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.