Robert Stuart (businessman) facts for kids
Quick facts for kids
Robert Stuart
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| Born | November 22, 1852 Ingersoll, Ontario
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| Died | January 27, 1926 (aged 73) Pinehurst, North Carolina, U.S.
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| Resting place | Rosehill Cemetery |
| Occupation | Businessman |
| Spouse(s) | Margaret Shearer |
| Children | John Stuart R. Douglas Stuart |
| Parent(s) | John Stuart |
| Relatives | John Stuart Jr. (grandson) |
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Robert Stuart (born November 22, 1852 – died January 27, 1926) was an American businessman. He was one of the important people who helped start the famous Quaker Oats Company.
Contents
Robert Stuart's Early Life and Family Business
Robert Stuart was born in Ingersoll, Ontario, Canada, on November 22, 1852. His father, John Stuart, was also a businessman. John Stuart had opened a mill, which is a place where grains like oats are ground, in Embro, Ontario, in the mid-1850s.
In 1873, Robert and his father moved to Cedar Rapids, Iowa, in the United States. There, they opened a new oatmeal mill called the North Star Oatmeal Mills. At that time, it was thought to be the biggest oatmeal mill in the world! The father and son team later opened a second mill in Chicago. They became very successful, selling their oatmeal all over the Midwestern United States, especially in big cities like Chicago, Milwaukee, and Detroit.
How Robert Stuart Helped Build a Cereal Empire
Robert Stuart was very good at business. In 1874, he teamed up with a railroad businessman named George Bruce Douglas Sr.
Forming the Consolidated Oatmeal Company
In 1885, the Stuarts decided to work with a competitor, Henry Parsons Crowell. Crowell owned the Quaker Mill Company in Ravenna, Ohio. They wanted to join forces to compete against a much larger oatmeal business run by Ferdinand Schumacher, who was known as the "Oatmeal King."
The very next year, Schumacher's biggest mill burned down. He didn't have insurance, so he was in a tough spot financially. Because of this, he asked to join the Stuarts and Crowell. Together, they formed a new company called the Consolidated Oatmeal Company. Crowell became the president, Stuart was the vice-president, and Schumacher was the treasurer. However, this company didn't last long and closed down in 1888.
Creating the American Cereal Company
Later in 1888, Ferdinand Schumacher led the way in bringing together seven different mills. They formed a new, bigger company called the American Cereal Company. Schumacher was the president, Crowell was the vice-president, and Stuart was the treasurer.
This company faced a tough time during a financial crisis called the Panic of 1893. To survive, they made their business stronger by focusing on just two main mills: one in Cedar Rapids, Iowa, and another in Akron, Ohio.
Taking Over the Business
In 1897, Schumacher and Stuart had a disagreement about investing more money in the Cedar Rapids mill. This led to Schumacher forcing Robert Stuart to leave the American Cereal Company. The next year, Schumacher also made Crowell leave the company.
But Stuart and Crowell didn't give up! They still owned a big part of the American Cereal Company (about 24%). They worked together to get other shareholders to vote with them. In 1899, they succeeded in removing Schumacher from the company.
After taking over, Stuart and Crowell greatly expanded the business. Robert Stuart was in charge of managing all the company's factories and operations. Henry Crowell focused on advertising and promoting their products.
The Birth of Quaker Oats Company
In 1901, the American Cereal Company was given a new name: the Quaker Oats Company. At that time, the Quaker Oats Company was making $16 million in sales each year. They sold many different products, including wheat cereals, farina (a type of hot cereal), hominy, cornmeal, baby food, and even animal feed. By 1918, the company's sales had grown hugely to $123 million!
Robert Stuart's Family and Later Years
Robert Stuart married Margaret Shearer. They lived in Chicago and also in Pinehurst, North Carolina.
Robert Stuart passed away in Pinehurst, North Carolina, on January 27, 1926, due to heart disease.
His legacy continued through his family. Robert's son, John, became the main leader (chief executive officer) of the Quaker Oats Company in 1922. Another son, R. Douglas Stuart, later took over the important marketing duties that Henry Crowell used to handle.
