Minnesota Mining and Manufacturing Co. signed by John Dwan & Edgar B. Ober - 3M Company - 1905-06 dated Autograph Stock Certificate - 2 of the 5 Founders

John Dwan, one of the five original founders of the Minnesota Mining and Manufacturing Company, now globally recognized as 3M, played a pivotal role in the company’s inception. A prominent attorney in Two Harbors, Minnesota, Dwan provided the legal foundation for the enterprise by drafting its incorporation papers in 1902 within his own law office. Alongside his four partners, Dwan initially aimed to capitalize on the industrial demand for abrasives by mining corundum, a mineral essential for grinding wheels.

Dwan’s contributions extended beyond legal matters. He served as the company’s first secretary, overseeing its administrative operations during its early days. Notably, he hosted the formal signing of the corporate papers on June 13, 1902.

However, the venture faced challenges when the mineral they were mining was discovered to be anorthosite, a relatively worthless material unsuitable for commercial abrasives. Despite the setbacks, Dwan’s unwavering commitment proved instrumental during this period of near-bankruptcy. He actively solicited funds to provide the company with the necessary capital, exchanging stock that, at the time, was famously joked to be worth less than a “two-bit shot of whiskey.”

Although Dwan and the other original founders eventually sold their interests to new investors like Lucius Pond Ordway in 1905, Dwan’s resilience ensured the company’s survival. This allowed it to pivot from mining to manufacturing, paving the way for its eventual success. Today, his original office in Two Harbors stands as the 3M Birthplace Museum, a testament to his role in the origins of one of the world’s most innovative corporations.

Founders:

• J. Danley Budd
• Henry S. Bryan
• William A. McGonagle
• John Dwan
• Hermon W. Cable

Edgar B. Ober played a crucial role in the survival and early success of 3M, originally known as the Minnesota Mining and Manufacturing Company. Although not one of the five original founders in 1902, Ober was a principal investor who stepped in during 1905 to save the struggling venture from financial ruin. Despite its failed mining operations, he recognized the company’s potential and convinced fellow businessman Lucius Pond Ordway to provide much-needed capital. Ober served as 3M’s president from 1905 to 1929, guiding the company through its transformation from a struggling mining outfit to a specialized manufacturer of sandpaper and abrasives.

Throughout his long tenure, Ober demonstrated unwavering dedication, famously working without a salary for years while the company struggled to turn a profit. Under his leadership, 3M relocated its headquarters to Duluth and eventually to St. Paul to better access industrial markets, particularly the booming automotive industry. Ober oversaw the development of 3M’s first exclusive products, such as Three-M-ite cloth, and celebrated the company’s first dividend payment in 1916. He also hired future legend William L. McKnight, who would later succeed him as president and continue the legacy of innovation that Ober had stabilized during the company’s most turbulent decades.

The Minnesota Mining and Manufacturing Company, now globally recognized as 3M, was founded in 1902 in Two Harbors, Minnesota. Initially established by five businessmen to mine corundum for abrasive use, the venture faced challenges when the mineral deposits were discovered to be low-grade anorthosite. To overcome this setback, the company pivoted from mining to manufacturing and relocated to Duluth and eventually St. Paul. Early investor Lucius Ordway’s capital and the leadership of figures like William McKnight fostered a culture centered on research and development. This shift led to the creation of groundbreaking products like the world’s first waterproof sandpaper in the early 1920s and Scotch Tape in 1930, transforming the fledgling firm into a household name.

By 2025, 3M had evolved into a diversified multinational conglomerate with over 60,000 products, including Post-it Notes, N95 respirators, and advanced electric vehicle materials. In 2002, the company officially adopted “3M Company” as its legal name to reflect its broad reach beyond its mining origins. In a significant recent strategic shift, 3M completed the spin-off of its healthcare division into a separate company called Solventum in April 2024. As of late 2025, the company is led by CEO William “Bill” Brown and operates across three primary business groups: Safety & Industrial, Transportation & Electronics, and Consumer. 3M continues to prioritize sustainability and material science innovation.

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