As a result of this deal, the original stockholders and the amount of stock they owned in April 1873 were as follows: (4)
S. T. Merrill 286 shares
J. B. Merrill 325 shares
0. E. Merrill 434 shares
G. A. Houston 453 shares
C. F. G. Collins 2 shares
Total shares 1500 shares
The officers of the company in that first year were John B. Merrill, President; George Houston, Vice-President; S. T. Merrill, Treasurer; and C. F. G. Collins, Secretary. 0. E. Merrill (as general superintendent in the machine shop) was most active in the running of the works, while Houston managed the water wheel department, and Collins did the financial work. (5) The key men, despite their positions, were George Houston and 0. E. Merrill.
John B. Merrill's position as President was basically ceremonial as was S. T. Merrill's position as Treasurer. The future would show that, when Houston and Orson Merrill had control of management, the business tended to prosper, but, when Collins and S. T. Merrill were in control, the problems multiplied.
S. T. Merrill, because of his many interests in politics, civic affairs, education, and business, never gave his full attention to any single interest during the 1870s. He was at one time President of four corporations, while spending most of his supervisory time at a fifth, the Rock River Paper Company. This meant that the time he spent at Merrill and Houston was minimal - sometimes he only visited the firm once a month in order to examine the books.(6) His lack of day-to-day knowledge would show at a later time much to the detriment of the company. (7)
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