![]() On November 12, Hershey Chocolate Company sold the property designated for Hershey Estates to the company for one dollar. On October 31, Hershey Estates elected to increase its capital stock from $5,000 to $50,000 and 46 of Hershey's shares were transferred to Murrie under Hershey Chocolate Company. A share was valued at $100, for a total capital stock of $5,000. Hershey owned 47 of the 50 shares in the company, and Ezra F. The company was established on October 31, 1927, in Lebanon, Pennsylvania, with paperwork submitted on October 28. The Hershey Industrial School remained a separate interest.Īll of Hershey's other non-chocolate business endeavors were incorporated into a separate entity known as Hershey Estates. The Cuban businesses held within the chocolate company were spun out into a wholly privately owned company called Hershey Corporation. (A prior company called Hershey Chocolate Corporation existed in the early 1920s when National City Bank took control of Hershey Chocolate Company.) On October 30, the company became a publicly traded company on the New York Stock Exchange. The chocolate company was incorporated and renamed Hershey Chocolate Corporation (today known as The Hershey Company) on October 24. In 1927, the Hershey Chocolate Company was reorganized and divided into several independent entities under the ownership of Hershey Trust Company. Once Hershey regained control of the company, this made him realize that he should split his operations such that if the chocolate company ever failed again as it had, it wouldn't directly impact the town as the DeCamp period had. During that time period, DeCamp prevented substantial improvements to the park or the town, as it was considered too costly an investment. DeCamp remained on the board until 1922, when the company settled the debt. ![]() DeCamp to be on the board of managers, to assume management of the company. Under the terms of the note, National City Bank sent R.J. Hershey was forced to sign a promissory note from National City Bank to keep the chocolate company in business. ![]() In 1920, Hershey experienced financial difficulty following the collapse in sugar futures. This made the Hershey Trust Company owner of the Hershey Improvement Company. ![]() In 1918, three years after Catherine Hershey died, Hershey transferred nearly all of his assets, including his control of the chocolate company, and various other entities, to the school. He named the Hershey Trust Company as administrator of the school trust. Hershey created a deed of trust establishing a trust fund for the school. In 1909, Hershey and his wife Catherine, who were unable to have children, established the Hershey Industrial School for orphan boys (renamed the Milton Hershey School in 1951). In 1905, Hershey created the Hershey Trust Company to provide banking to the town of Hershey. As the park gained popularity, further improvements were made, such as a grand entrance for the park in 1916. Hershey Park was opened on May 30, 1906, with a dance hall pavilion, band shell for shows, tennis courts and a baseball field with a grand stand available for sporting events. After the factory was completed and put in operation in 1904, the Hershey Improvement Company turned toward building the town, which included homes, stores and parks. This company was the predecessor to Hershey Entertainment and Resorts. To build the structures of the town, Hershey created a subsidiary company called the Hershey Improvement Company. In 1903, Hershey began purchasing land in Derry Township, Pennsylvania, not far from the family homestead he owned, to create a company town for his proposed chocolate factory. Hershey accepted the offer, maintaining ownership of the Hershey Chocolate Company. In 1900, the American Caramel Company offered to purchase the Lancaster Caramel Company for $1 million. ![]() Hershey founded the Hershey Chocolate Company as a subsidiary of his Lancaster Caramel Company. in 1976 and Hershey Entertainment and Resorts Company in 1998. All of his non-chocolate producing businesses were established as Hershey Estates, renamed HERCO, Inc. Hershey established HE&R in 1927 to distinguish and separate his chocolate manufacturing company from his other business ventures. Hershey Entertainment and Resorts Company is a privately held corporation based in the U.S. Amusement park, attractions, hotels, restaurants, meetings ![]()
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