John Brisben Walker of Cosmopolitan magazine arranged the purchase of the Stanley Steamer car business. For fifty percent ownership, Amzi Lorenzo Barber put up the $250,000 asking price. The new company was originally called the Automobile Company of America but later changed to Locomobile Company of America. By 1903 Locomobile produced gasoline powered cars exclusively. The company motto “Four Cars a Day” ensured these were some of the country’s most expensive luxury cars at the time.