Founded in 1891 by Allen P. Wagner a successor to the Sebastian, May & Company with a $25,000 loan from his cousin’s husband, Ignatius H. Thedieck. Wagner moved the company to Detroit,MI in 1898. In 1909, Thedieck called in his loan and took control of the company, moving it back to Sidney, OH and renaming it the Monarch Machine Tool Co.
Information Sources
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American Lathe Builders: 1810-1910 by Kenneth L. Cope, 2001 page 176