Origin of 4' module and 16" OC?

I'm just curious if anyone knows where the standard for 16" OC stud spacing and 4 foot plywood widths came from?
Since older houses used individual boards instead of plywood, I assume the 4 foot width was designed to fit an existing 16" OC standard stud spacing? But why 48" and not 32". I'm guessing it was the biggest size that could be handled comfortably? A 64" wide sheet would be difficult for most people to carry comfortably.
So, assuming the stud spacing came first, where did the 16" OC standard come from?
Just curious... :)
Anthony
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I'm assuming its the largest possible spacing from an engineering standpoint.
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My guess is probably a common sense thing. Midway, or 24" O.C., too much play or give. The next logical and smaller sequence is 16" O.C. You can notice this when applying the first row of ship-lap siding used years ago. Back then, there was no 4' wide siding/plywood. Lamination came later.
Some use 24", some 16", and even 12" O.C. The two former are usually a code or ordinance, the latter is a matter of architect, engineer, or owner/builder preference im most cases. Can be also a structural requirement due to weight supported, or total wind driven flex for the latter.
--
Jonny



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