What Happened on June 16th
Financier Charles Flint built trusts by merging several smaller companies to form dominant company in particular fields. He had already formed International Time Recording Company that was the major player in factory time clocks and Computing Scale Company of America for scales. He then bought out Herman Hollerith, the founder of Hollerith Tabulating Machine Company, and merged the three companies into Control-Tabulating-Recording Company, or C-T-R. The new company continued to produce all teh goods the individual companies had specilized in, but eventually focused on the unit record equipment that Hollerith's company had made. In the 1920s, C-T-R would rename itself IBM.