This page is based on a Wikipedia article written by contributors (read/edit).
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
With this purchase, Wallace Carroll became the chairman and majority stock owner of Katy Industries.
Carroll's experience with company acquisitions and expansions began in 1940 when he established a gauge business in Illinois.
As pricing and buyer engagement on these mixed lots leveled out, it was clear a new strategy to increase bidding and recovery was needed.
Solution To increase buyer engagement and drive up …
As with most manufacturing companies during World War II, Carroll's American Gage grew rapidly because of an "insatiable demand" for gauges.
His preference was to keep the original management, but if the management was comprised of older men then his policy was to make them consultants or honorary officers and hire a younger generation to manage the company.The "Katy," as the railroad is nicknamed, included 2700 miles of damaged roadbed from Missouri to Texas on which derailments were likely to occur if the cars were moving faster than 25mph.Shipment of stock would often he damaged and, very few shippers would allow their products to be transported on the Katy.The cause for this substantial increase in activity on the Katy lines was a "non-stop talker" name John Barriger who came on board to save the railroad from its bankrupt condition.Barriger did not expect that the Katy would ever become a prosperous railroad, but he did hope that he could rebuild it so that a larger railroad company would be enticed into a merger.