Like Henry's other automobile ventures in the previous years, the company was struggling and needed help. In July, with the company short on cash, Dr. E. Pfennig of Chicago (seen here) stepped in, one of three customers who came to the rescue.
A much-needed cash infusion of $1,320 arrived on July 13, 1903, keeping Ford Motor Company afloat. This amount included Pfennig’s full payment of $850 and deposits from the two other customers. The company had spent $19,000 in 25 days, and before these sales had just $223.65 left in the bank.
Pfennig’s Model A was shipped to him on July 28, 1903, from the plant on Mack Avenue. The 1903 Ford Model A had a two-cylinder engine producing 8 horsepower and displacing 100 cubic inches, and topped out at 30 mph.