feed ingredients, specialty food ingredients, cocoa, nutrition and more. It is considered as the
world wide transportation network that continues to have more than 240 work locations. ADM
continues to partner with farmer and the agriculture to create more markets for their products.
In 1924, John W. Daniels left his position as president, and became chairman. This gave
Shreve M. Archer the opportunity to become the new president of the company. From 1925 and
1928, ADM built its first concrete grain elevator in Minneapolis. They also purchased the
Armour Grain Company, forming ADM’s grain division. By that time, ADM had a record of
$8.036 per share earnings. In 1929, ADM purchased the Werner G. Smith Company of
Cleveland, Ohio, which was considered to be the largest manufacturer of core oils. ADM also
began crushing soybeans in its Toledo and Chicago plants, giving them the lead in rapid
development of soybeans in the U.S.
By 1931, John W. Daniels passed away. George A. Archer is named Chairman, but he
too passes away the following year. From 1932-1947, ADM’s president Shreve Archer serves as
Chairman; however, he did carry the title. Between 1933 and 1939, ADM began manufacturing
formula feeds and installed the first continuous solvent extraction unit in the United States at
their Chicago plant. The company achieved a record net profit after income tax and depreciation,
referred to as net earnings, of $2,525,745. The company also began the world’s largest solvent
extraction plant in Decatur, Illinois.
Between 1940 and 1959, research grows rapidly and allows new products to be
developed. Raw linseed and crude soybean oil were able to be converted into several hundred
different products. Current assets reached approximately $50,284,312 with average sales of
$183,255, 175. Net sales and other operating income had increased up to $297,429,912 and
created net earnings of $15 million. The cost of property and plant exceeded over $50 million for