The business was affected by the severe flooding of local rivers during the Great Flood of 1913 and it this damaged the business sufficiently for it to declare bankruptcy , with the company $ 624,000 in debt . Initially it was offered for sale for 25 cents on the dollar , but received only one offer , for less than $ 100,000 , prompting its interests , headed by Frank L. Chase , to withdraw the offer . Under an order from a federal judge , $ 273,000 , or 44 percent of the debt , was eventually paid to creditors . In 1914 , a new entity , named the New Columbus Buggy Co. , was incorporated with $ 500,000 in capital under a new ownership group , including C. A. Finnegan and E. D. Hoefeller of Buffalo , New York . This entity , controlled by the company 's creditors , continued production at the plant . That same year , Firestone passed away . Both the Firestone Electric and the Columbus-Firestone vehicle lines were produced into 1915 , when the company ceased operations , leaving an inventory of 35 new electric cars and 12 automobiles , as well as several used cars
Great Flood of 1913
Great Flood of 1913
Columbus Buggy Company