William H. Colean was the manager of the Peoria territory of central and southern Illinois for Aultman traction engines and threshing machinery. This success in 1904, inspired Colean to resign his position, and with Peoria acquaintances, establish a business for the manufacture and sale of a complete line of steam traction engines (ca 1900's), threshing machines, etc.
In 1908, Colean Mfg. Co. was forced into bankruptcy after only a few years of pioneer work. The company never reached a point in which it was profitable. After bankruptcy in 1909, the factory was bought by the Holt Mfg. Co., which later became the Caterpillar Tractor Co.
Information Sources:
- Norbeck, Jack, Encyclopedia of American Steam Traction Engines, Crestline Publishing Inc, Glen Ellyn, Illinois, Pg. 104
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A Source Book of Traction Engines by Denis Miller, 1983 page 123
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Steam Power on the American Farm by Reynold M. Wik, 1953 page 254
- The Steam Tractor Encyclopedia by John F. Spalding & Robert T. Rhode, 2011 pages <130-131/li>