 In 1925, two Louden executives, J. P. Lawrence and Frank Harris, resigned from the company to form American Monorail Company.From 1923 to 1948, these three companies—Louden, Tramrail, and American—held a virtual oligopoly in the market of underhung cranes and monorails.In 1947, Spencer and Morris, Cleveland Tramrail's Southern California representative, was acquired by the Whiting Corporation.