SCHOTT, HAROLD C. (6 Jan. 1907-28 Feb. 1977) was an industrialist and financier who, along with his brothers, created a business empire of companies in Cleveland and throughout the Midwest.

Born in Cincinnati, Harold joined his brother Walter's Willys-Overland automobile distributorship after graduating from high school in Cincinnati. In 1940 the Schott brothers moved into the industrial field, purchasing the Columbia Axle Co. with Harold becoming president. At the height of their partnership the brothers owned 31 companies throughout the midwest worth almost $20 million, including Cleveland Pneumatic Tool, U.S. Air Compressor Co., and Champion Machine & Forging Co.

In 1952 Harold and Walter split their assests and amicably dissolved their partnership over the policy of buying businesses and liquidating or re-selling them for a quick profit. In 1953 Harold and another brother, Joseph, were involved in the merger of Ohio Bearings with several bearing companies to form BEARINGS, INC. Headquartered in Cleveland, Bearings, Inc. became the largest bearing distributing company in the United States. Schott also owned American National Corp. and HCS Corp. in Cleveland, Van Lock Company and Lennox Trucking in Cincinnati, and Progress Tool & Engineering Co. in Indianapolis.

In 1959 Schott established the HCS FOUNDATION, with gifts limited to Ohio and having benefitted primarily the Roman Catholic Church, hospitals and secondary education. Schott was active in CATHOLIC CHARITIES CORP. of Cleveland.

Schott never married. He lived in Cleveland and LAKEWOOD and had a home in Golden Beach, Florida, where he died. Schott, a Roman Catholic, is buried in St. Joseph's New Mausoleum in Cincinnati.

Article Categories