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Title: |
1917 Article - Development of Great Concern From Its Beginning |
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Source: |
The Cincinnantian. Vol. 4, No. 20. May 14, 1917. Pg. 5. |
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Insert Date: |
11/12/2010 9:00:27 PM |
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Of the Machine Tool Industry Recalled J A FAY & EGAN CO Development of Great Concern From Its Beginning The beginning of the JA Fay & Egan Co dates back to the year 1830 when the first power driven machines for cutting wood were constructed in Keene NH by Mr JA Fay for use in his own work which at that time consisted jn the sale of timbers for building purposes So successful were these machines and the need for them so great throughout the world that Mr Fay gave up the lumber business and devoted his efforts to the manufacture of woodworking machinery exclusively Selecting a location for broader op erations the JA Fay & Co erected a factory on the Ohio River in Cln cinnati O in 1850 The business of this company grew rapidly and as it was the first in the field it continued to keep its place as the largest woodworking machinery factory in the world until the advent of the Egan Co Mr Thos P Egan when 16 years of age following his mechanical bent came to Cincinnati and secured a po sltion in the machine shop of the Steptoe McFarlan Co which had also started in the manufacture of wool working machinery Mr Egan remained with this company for twelve years first getting practical experience in the shoo then going into the office and studying the technique of the business later going on the road and selling the machines all of which gave him a broa knowledge which started him on his career as Inventor manager and employer In 1874 Mr Egan started In business on his own account and wit i two partners opened up a little shop where at first the partners constitute the entire force Seven years afterward however In 1881 the Egan Co was Incorporate with a capital stock of $150,000 Mr Thos P Egan President The enterprise was successful from the start and Mr Egan's dominating influence came to be felt in the woodworking machinery market The new plant of the Egan Co an 1 the older plant of the JA Fav & Co were located on opposite sides of Front street in Cincinnati O The growth of the younger company was very rapid a 1 within ten years after its incorporation It has be come an equal if not a greater com pariy than its older competitor In 1893 through the efforts of Mr Egan the two companies were consolidated under one management a new corporation was formed known as the JA Fay & Egan Co with a capital stock of $2,000,000 and Mr Thos P Egan was elected to the Presidency of this new company The leadership of JA Fay & Egan Co is now firmly established and the continued progress of this organization through its eighty seven years of existence is In Itself the most conclu sive evidence of the high quality of its product The business of the JA Fay & Egan Co now reaches into every port of the world where timber grows or wood is used Its export business Is greater than all other woodworking manufacturers combined The plant of the company which is still located in Cincinnati O occupies nineteen acres of floor space and under normal conditions employs 1.200 men The export business of this com pany Is handled through their own export sales office in New York City which also attends to the clearance and shipping of its products Orders from foreign customers entrusted to JA Fay & Egan Co are executed and shipped in the manner possible only because of the years of experience this organization has had in the export field |
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