were built. Smith & Mabley suffered during the recession and stock market slides in late 1906 that led up to the Panic of 1907. Receivers were called in and the company would be declared bankrupt in 1907. Friend and textile importer Herman Broesel, Sr., took over the Smith & Mabley assets in 1907 and formed the Simplex Automobile Company, and continued production as the Simplex . American C.G.V. Smith & Mabley were importers of the Charron, Girardot & Voigt motor car made in France. In 1902 and early 1903, the company produced the car under license. Seven cars, with tonneau bodies supplied by the coach builders J.M. Quinby & Sons and assembled by the Rome Locomotive Works in Rome, New York were built. The brand name was American C. G. V. and the price as a five-passenger tonneau was $5,500, . After the short production run, Smith & Mabley returned to importing the C. G. V. S & M Simplex All S & M Simplex's were powered by 4-cylinder engines. The first model from 1904 was the 30/35 HP with a T-head engine. Engine power was transmitted to the rear axle through a four-speed gearbox and chains. Its chassis had a wheelbase of 105-inches. The open touring car offered space for five people. In the same year, the smaller 18 HP was added to the range, although there was less demand for it. It had a wheelbase of 91-inches and a choice of a two-seat runabout or a five-seat tonneau. In 1905 only the 30/35hp was offered. The wheelbase was extended to 106-inches on a Brougham body style. In 1906 the car was described as a 30 HP, available with a wheelbase of 106-inches a five-seat touring car and with a wheelbase of 113-inch as a seven-seat touring car. The 30/35 HP name was used again for 1907. With a wheelbase of 106-inches, there was a three-seat runabout and a five-seat touring car. A longer five-seat touring car had a wheelbase of 111-inches. A wheelbase of 115-inches enabled a seven-seat touring car. There was also a more powerful and more expensive model , the 50/70 HP. It had a wheelbase of 124-inches and was available as an enclosed limousine with five to seven seats. Priced at the top of the Import and luxury markets, S & M Simplex's factory prices in 1907 ran from a low of $4,950 () for