This company was created by the 1910 merger of MacGregor, Gourlay Co. Ltd.; John Ballantine & Co.; Hespeler Machinery Co.; the woodworking machine division of Goldie & McCulloch Co., Ltd.; and the woodworking machinery division of Sussex Manufacturing Co. For a detailed early history, see the entry for MacGregor, Gourlay Co. Ltd.

In 1912, CMC acquired London Machine Tool Co. for their line of heavy-duty metal-working machinery.

Ad from "Waterloo Outlook 1914"

CMC made both machine tools and woodworking machinery. Their products spanned general-purpose and specialized machinery, and light and heavy duty. Some of their most successful products were those for large-scale work, as needed for railcars, structural timbers, etc. One such machine, the Falls Undercut Planer, was manufactured by CMC based on a design licensed from Falls Machine Co. of Wisconsin.

By 1914 CMC was the largest woodworking machinery manufacturer in Canada; at that time they had over 600 employees. They had plants in Galt, Preston, Hespeler, and Hamilton - all in Ontario. (Galt, Preston, and Hespeler were amalgamated in 1973 to form the city of Cambridge.) The Galt plant made the light woodworking machinery, and the Hamilton plant made heavy machinery for railroads. The Preston and Hespeler plants made "general woodworking machinery."

For the years between 1955 and 1964 CMC was owned by Hugo Stinnes Industrie und Handel GmbH. In 1964 it was purchased by Canadian interests, and in 1975, CMC was absorbed by Ingersoll Rand.

Support for CMC Products

Until recently, some support for CMC machines was still available, but has ceased because of a fire.

I am especially interested in woodworking machinery manufacturers from Ontario, and particularly Cambridge, so if you have any information on relevant woodworking machinery companies and products, I strongly urge you to contact the Historian.

Information Sources

• 1910-08-09 U. S. Daily Consular and Trade Report

  Canadian Machine Makers Combine
  Merger of manufacturers of woodworking machinery and tools.

  Concerning the important merger, comprising practically all the companies in Canada that manufacture the lighter grades of woodworking machinery and tools, with headquarters and control in the Hamilton district, Consul James M. Shepard quotes an official announcement:

  The new company will be known as the Canada Machinery Corporation (Limited), and with its headquarters at Galt, Ontario, will comprise the MacGregory, Gourlay & Co. (Limited), of Galt, Ontario; the John Ballantine & Co. (Limited), of Preston, Ontario; the Hespeler Machinery Company (Limited), of Hespeler, Ontario; and the woodworking machinery departmeents of Goldie & McCulloch Company (Limited), of Galt, Ontario; and of the Sussex Manufacturing Company (Limited), of Sussex, New Brunswick. The capitalization of the new company will be as follows:

  	Authorized	Now issued
  First mortgage, 6 per cent sinking-fund bonds	$1,000,000	$400,000
  Preferred stock, 7 per cent cumulative	$1,500,000	$850,000
  Common stock	$1,500,000	$625,000

• The 1917 Manual of Statistics: Stock Exchange Hand Book.

  Canada Machinery Corporation, Limited
  A corporation formed under the laws of Canada, July 5, 1910. The company acquired the following concerns manufacturing woodworking machinery and machine tools: MacGregor, Gourlay & Co., Limited, Galt, Ont. John Ballantine & Co., Limited, Preston, Ont. Hespeler Machinery Co., Limited, Hespeler, Ont., together with the woodworking machinery departments of Goldie & McCulloch Co., Limited, Galt, Ont., and the Sussex Manufacturing Co., Limited, Sussex, N. B. It has also acquired the London Machine & Tool Co. In January 1915, it was stated that the business of the company would be concentrated in Galt and Hespeler.
  Stock...Par $100...Authorized com., $1,250,000; pref., $750,000. Issued com. $1,177,500; pref., $600,500; $1,780,000.
  Funded dept: 1st mort., 6 per cent., due August 1940, Feb. and Aug... $307,500. ... President Thomas H. Watson, Galt, Ont. Vice-President, George D. Forbes, Hespeler, Ont. Secretary and Treasurer, B. H. Neill, Galt.
  Directors—C. H. Easson, Toronto. George D. Forbes, Hespeler, Ont. George E. Goldie, Ayr, Ont. R. O. McCulloch, Galt. Thomas H. Watson, Galt.
  Main office, Galt, Ont. Annual meeting, first Wednesday in April, at Galt.

• The 1922 Moody's Manual of Investments (highlights added).

  CANADA MACHINERY CORP., LTD., Incorporated July 5, 1910, in Canada, and acquired the business and undertakings of the following companies: MacGregor, Gourlay & Co., Ltd., Galt, Ont.; John Ballantine & Co., Ltd., Preston, Ont., and the Hespeler Machinery Co., Ltd., Hespeler, Ont. Also acquired the wood-working machinery departments of Goldie & McCulloch Co., Ltd., of Galt, and of the Sussex (N. B.) Manufacturing Co., Ltd. These companies constituted practically all the concerns in Canada manufacturing the lighter grades of wood-working machinery, and represented a large proportion of the manufacturing capacity of iron working tools in Canada. In Feb., 1912, acquired the London Machine & Tool Co., with plant at Hamilton, Ont. In 1915 the business of the company was concentrated at Galt and Hespeler, the plants at Hamilton and Preston being closed down and offered for sale.
  MANAGEMENT: OFFICERS: T. H. Watson, Pres., Galt, Ont., Geo. D. Forbes, Vice-Pres., Hespeler, Ont.: B. H. Neill, Sec. and Treas., Galt., Ont. DIRECTORs: T. H. Watson, R. O. McCulloch, Galt, Ont.; G. D. Forbes, Hespeler, Ont.; Col. Thomas Gibson, C.M.G.; C. H. Easson, Toronto, Ont. ANNUAL MEETING: First Wednesday in April. GENERAL OFFICE: Galt, Ont.
  COMPARATIVE BALANCE SHEET, AS OF JAN. 31

  ASSETS:	1921	1920	1919
  Real est. and plant	$1,212,326	$1,204,004	$1,190,704
  Good-will	288,378	288,377	288,377
  Current assets	543,425	523,220	502,855
  Prepaid items	36,724	24,226	23,146
  Investments	284,589	285,802	298,686
  Bond int., cap.	120,700	120,700	120,700
  Total	$2,486,142	$2,446,329	$2,424,468
  LIABILITIES:
  Common stock	$1,177,500	$1,177,500	$1,177,500
  Preferred stock	602,450	602,450	602,450
  Bonded debt	301,750	301,750	301,750
  Current liab.	71,659	26,889	26,545
  Int, and taxes accr.	9,537	9,489	15,067
  Reserves	249,831	225,053	200,276
  Profit and loss	73,415	103,198	100,880
  Total	$2,486,142	$2,446,329	$2,424,468

  
  BONDED DEBT: 1. Canada Mchy. Corp., Ltd., first s. f. gold 6s: Authorized, $1,000,000; outstanding, $301,750. Dated Aug. 1, 1910; due Aug. 1, 1940. Interest paid F. & A. 1, at Royal Bank of Canada, Montreal, Toronto, Galt and Halifax. Montreal Trust Co., Montreal, Trustee. Coupon, $500 and $1,000; registerable as to principal. Callable as a whole at 110 and interest on any interest date, or in part, for sinking fund purposes only, on any # 1 at the same price. Sinking fund of 2% annually of bonds outstanding began Aug. 1, 1920, to be deposited with the trustee for purchase of bonds at not exceeding 110 and interest, all bonds so purchased to be kept alive and interest thereon to be added to the fund. Secured by a first mortgage upon the entire fixed assets of the company now owned or hereafter acquired. Authorized, $1,000,000; issued, $615,000, of which $307,500 were exchanged for new preferred stock and retired; outstanding Jan. 31, 1921, $301,750; held in treasury, $5,750. The unissued bonds can be issued only to an amount equal to two-thirds of actual expenditure for additions and improvements. Subject to United States normal income tax, which company does not assume. See rating below.
  CAPITAL STOCK : 2. Canada Mchy. Corp., Ltd., 7% noncum. pref.: Authorized, $750,000; outstanding, $602,450; par $100. Has preference as to assets and 7% non-cumulative dividends. Dividends at rate of 7% regularly paid, semi-annually, A. & O. Transfer Agent: Chartered Trust & Executor Co., Ltd., Toronto, Ont. See rating below.
  3. Canada Mchy. Corp., Ltd., common: Authorized, $1,250,000; outstanding, $1,117,500; par $100. The preferred stock has prior claim to assets and 7% non-cumulative dividends. Initial dividends of 2% paid in April 15, 1918; 1919 and 1920, 5% each. None reported thereafter through 1921. See rating below. Transfer Agent: Chartered Trust and Executor Co., Ltd., Toronto, Ont.
  PROVISIONAL RATINGS: As this company does not furnish an income account or other statistics which are essential for the rating of its securities in our standardized form, we insert ratings of a provisional character which are based on the known facts and on such special data as we have been able to obtain.
  1. Canada Mchy. Corp., Ltd., 1st 6s, 1940. . . Rating, p. Baa.
  2. Canada Mchy. Corp., Ltd., 7% non-cu. pfd. Rating, p. Ba.
  3. Canada Mchy. Corp., Ltd., common. . . . . . . Rating, p. B.

• 1940 Canadian Trade Index.

  Canada Machinery Corporation, Limited, Galt, Ont. Iron and woodworking machine tools. Branch offices, Toronto, Montreal, Winnipeg. Brand, "C.M.C.". For. Rep.: Soag Machine Tool Co., London, England. Cable address, Cancorp.

• An ad in a 1957 issue of "Canadian Woodworker" shows their 24" "pony planer."
• The University of Western Ontario Business Library has a 1967 article available online. Here is the article's version of events from the founding of CMC:

  The present Canada Machinery Corporation was formed, by Dominion Charter in 1910, to consolidate MacGregor, Gourlay operations with those of four other companies - John Ballantine Co. of Preston; Hespeler Machinery Co., Hespeler; Sussex Machinery Co., Sussex, N.B.; and the wood-working machinery department of Goldie & McCulloch Co. of Galt.
  
  Two years later, the London Machine Tool Co. in Hamilton was acquired to expand the machine tool section of the business. At this point, CMC was the largest manufacturer of wood and iron working machinery and tools in Canada. In 1917, the Hamilton plant was,dismantled and re-erected in Galt in a move to centralize manufacturing facilities.
  
  The steam engines of the railroads in the 20's required an incredible amount of maintenance. The trip from Toronto to Montreal required several different engines- and maintenance shops. CMC was kept busy producing machinery and equipment to keep the railroads running across the country and it was at this time that the company started making rail anchors - a business that has continued to this day.
  
  The 20's also saw the company manufacturing production machinery for the automobile industry. CMC made such exotic pieces of equipment as wheel shrinkers and fender ribbon machines for Henry Ford's wonderful Model T-and when wire wheels became popular, CMC made machines for welding the spokes to the rims.
  
  In common with other industrial concerns, the CMC was hard hit by the Depression, but was able to stay in business and maintain its skilled workers-though in drastically reduced circumstances. World War II saw the CMC plant working to capacity, producing machine tools for factories in Canada, the U.S., India, New Zealand, Australia and Russia.
  
  In the post-war years, the company stabilized its position in the industry and concentrated its efforts in the design and development of special purpose machine tools and production machinery.
  
  In 1955 the company was acquired by Hugo Stinnes Industrie und Handel GmbH of West Germany-a group with diversified holdings in many industries in North and South America as well as in Europe.
  
  1956 saw the beginning of a massive long-term modernization and expansion program. A 30,000 sq. ft. steel fabrication plant on 29 acres of land in Kitchener was leased in 1960 and purchased in 1964—at the same time as the West German group disposed of its holdings and the company came under Canadian control once again.

• The Manual of Statistics: Stock Exchange Hand-Book, Volume 34, 1912, edited by Charles M. Goodsell and Henry E. Wallace, has this entry:

  CANADA MACHINERY CORPORATION, LIMITED

  A corporation formed under the laws of Canada, July 5, 1910. The company acquired the following concerns manufacturing woodworking machinery and machine tools: MacGregor, Gourlay & Co., Limited, Galt, Ont. John Ballantine & Co., Limited, Preston, Ont. Hespeler Machinery Co., Limited, Hespeler, Out., together with the woodworking machinery department of Goldie & McCulloch Co., Limited, Galt, Ont., and the Sussex Manufacturing Co., Limited, Sussex, N. B.

  Stock...Par $100..... Authorized {com., $1,500,000 / pref., $1,500,000} Issued {com., $653,400 / pref., 908,800} $1,562,200

  The preferred stock is 7 per cent, cumulative. Dividends on the preferred stock are paid semi-annually 3 1/2 per cent, each in March and September. Transfer Agent, Guardian Trust Co., Limited, Toronto.

  Funded Debt 1st mort., 6 per cent., due August, 1940, Feb. and Aug...... $400,000

  The authorized issue of the 1st mortgage is $1,000,000. The bonds are redeemable at 110 on August 1, 1915, or any subsequent interest day. Trustee, Montreal Trust Co., Montreal. Agents for the payment of interest, Royal Bank of Canada, Montreal and Toronto.

  President, George D. Forbes, Hespeler, Ont. Vice-President, R. O. McCulloch, Galt. Vice President, R. MacGregor, Sr., Galt. Vice-President, S. H. White, Sussex, N. B. Secretary and Treasurer, J. F. MacGregor, Galt.

  Directors—George D. Forbes, Galt. Alexander G. Gourlay, Galt. Garnet P. Grant, Toronto. R. L. Innes, Hamilton, Ont. R. MacGregor, Sr., Galt. R. O. McCulloch, Galt. Thomas H. Watson, Toronto. S. H. White, Sussex, N. B.

  Main office, Galt, Ont. Annual meeting, first Wednesday in September, at Galt.