Henry Bourne Joy, a member of one of Detroit's oldest and wealthiest families, bought a Packard. Impressed by its reliability, he visited the Packards and soon enlisted a group of investors—including Truman Handy Newberry and Russell A. Alger Jr. On October 2, 1902, this group refinanced and renamed the New York and Ohio Automobile Company as the Packard Motor Car Company, with James Packard as president. Alger later served as vice president. Packard moved operations to Detroit soon after, and Joy became general manager (and later chairman of the board). An original Packard, reputedly the first manufactured, was donated by a grateful James Packard to his "alma mater", Lehigh University, and is preserved there in the Packard Laboratory. Another is on display at the Packard Museum in Warren, Ohio.