Moody's traces its history back to two publishing companies established by John Moody, the inventor of modern bond credit ratings. In 1900, Moody published his first market assessment, called "Moody's Manual of Industrial and Miscellaneous Securities", and established John Moody & Company. The publication provided detailed statistics relating to stocks and bonds of financial institutions, government agencies, manufacturing, mining, utilities, and food companies. It experienced early success, selling out its first print run in its first two months. By 1903, "Moody's Manual" was a nationally recognized publication. Moody was forced to sell his business, due to a shortage of capital, when the 1907 financial crisis fueled several changes in the markets.