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1920-1939

1923 The Company hires its first chemist for research.  The Midland Linseed Products Company purchase occurs; the Company’s name changes to Archer Daniels Midland Company.
   
1924 John W. Daniels leaves his position as president and becomes chairman.  Shreve M. Archer is named president.
   
1925 The Company builds its first concrete grain elevator in Minneapolis.
   
1927 The Armour Grain Company is purchased, forming ADM’s grain division.
   
1928 ADM has a record $8.036 per share earnings.
   
1929 ADM purchases the Werner G. Smith Company of Cleveland, Ohio, the country’s largest manufacturer of core oils.  ADM starts crushing soybeans in its Toledo and Chicago plants, becoming a leader in the rapid development of soybeans in the United States.  ADM acquires the Commander Larabee Corporation, one of the largest flour milling operations in America at the time.
   
1931 John W. Daniels passes away and George A. Archer is named chairman.
   
1932 George Archer passes away.  During 1932 – 1947, ADM president Shreve Archer serves in the capacity of chairman, although he did not have the title.
   
1933 ADM begins the manufacturing of formula feeds.
   
1934 ADM installs the first continuous solvent extraction unit in the United States at the Chicago plant and begins the solvent extraction of soybeans.
   
1935 ADM achieves a record net profit after income tax and depreciation (hereafter referred to as “net earnings”) of $2,525,745 dollars.
   
1939 ADM begins construction of what was then the world’s largest solvent extraction plant at Decatur, Illinois.
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