Clarence M. Woolley
With the financing help of JP Morgan, Woolley’s American Radiator came to control just about every heating equipment manufacturer in the United States. Seeing that a greater market for gas radiators existed in Europe than in the United States, however, Woolley established subsidiaries in nearly all of the major European markets. As business picked up in the United States in the 1910s, especially with the onset of World War I, American Radiator began handling annual sales of $10 million and by the time Woolley retired as chairman in 1939, revenue had reached a level of $100 million.

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