The Waterloo Gasoline Engine Company was the first company to manufacture and sell gasoline-powered farm tractors. Based in Waterloo, Iowa, the company was created by John Froelich and a group of Iowa businessmen in 1893 and was originally named the Waterloo Gasoline Traction Engine Company. In 1892, Froelich had invented the first practical gasoline-powered tractor, and the new company was given the opportunity to manufacture and sell the tractor Froelich designed. The tractor was not successful commercially, and of the four tractors built by the company only two were purchased, and these were later returned to the company by unsatisfied customers. In 1895, the company was sold to John W. Miller and renamed the Waterloo Gasoline Engine Company. Miller decided to stop producing tractors and instead focus on building plain gasoline engines.