[1] The combined company could build over 100 new freight cars per day.
[5] The Panic of 1893 directly affected Michigan-Peninsular as orders for new cars evaporated, the plant was completely closed for five months.
[1] The next three years and the further financial difficulties of 1897 also negatively affected Michigan-Peninsular such that the company was considering reducing the amount of capital stock available.
One report in the New York Times claims that Michigan-Peninsular had issued $3,000,000 in common stock and $5,000,000 in preferred stock and that during this time Col. Frank J. Hecker and Charles L. Freer gained a controlling interest in the company.
In 1902, the Detroit Plant became the first of ACF's facilities to move a car under construction on its own trucks between stationary workstations.