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BIOGRAPHIES
Source:
Centennial History of Cincinnati & Representative
Citizens
by Charles Theodore Greve, A. B., LL. B.
Vol. I
Publ. by
Biographical Publishing Company.
Geo. Richmond, Prks.; C. R. Arnold, Sec'y and Treas.
1904
(Transcribed by Sharon Wick)
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THOMAS P. EGAN,
president of J. A. Fay & Egan Company, the most
extensive manufacturers of wood-working machinery in the
world, with plant and headquarters in Cincinnati, Ohio, is a
native of Ireland. He was born Nov. 20, 1847, and was
an infant in arms when his family moved with him to
Hamilton, Canada.
Thomas P. Egan attended the Central High School
of Hamilton, Canada, and after his graduation at the age of
14 years began his business career as clerk in a dry goods
store in that city at a salary of $2 per week. For two
years he served as clerk, then decided to come to the United
States, as a field that presented greater opportunities.
He had a sister who had located in Cincinnati, Ohio, and it
was natural for him to first come to this city. He
secured a position with William Kirkup, the
brass-founder and manufacturer of brass goods, his principal
duty being to run a lathe. Three months later he
entered the employ of the firm of Steptoe, McFarlan &
Company, the earliest manufacturers of wood-working
machinery in the United States. He had been at work
with this firm hut two weeks, when he met with a distressing
accident, losing his left arm. He was thus rendered
incapable of performing manual labor, and his employers,
impressed by his conscientious and intelligent service,
decided to give him a trial at office work. He had
received some training in bookkeeping in high school, and
when each day’s work was done he pursued a course of study
in a night business college. His salary was gradually
advanced to $18 per week. After so many years of
continuous labor, his employers decided that a rest would be
beneficial to him and suggested the same. Mr.
Egan then asked to be given a position as traveling
representative, and, of the members of the firm, Mr.
Steptoe alone was willing to grant the request.
Finally, to carry his point, the latter agreed to personally
guarantee the firm against any loss which might result from
the change. Mr. Egan started out, the
fact that he was under Mr. Steptoe’s guarantee
being an incentive to put forth his utmost endeavors.
He called on the trade in Chicago, Indianapolis, Lafayette
and other cities, giving little thought to anything but his
new venture, and when he returned to Cincinnati was
surprised to find his sales had exceeded those of any
previous salesman. He continued traveling for seven
years, his salary being increased to $35 per week, and at
the end of that time was offered an increase of $5 per week
to remain, but declined as be wished to go into business for
himself. He had saved the sum of $5,000, and after
laying aside $1,500 to set up housekeeping, put the
remainder in his new business, which he established with two
others. They rented a room of Steptoe,
McFarlan & Company, together with power, and although
the business was a success from the start,, the partners
drew out but $20 each week, just half of what Mr.
Egan had been offered to remain with the old firm.
Although they started in 1874, the year after the great
panic, their profits amounted to $10,500, and they
immediately made plans to expand their business. They
removed to Front street, between Central avenue and John
street, renting an old mill, 30 by 80 feet, and three
stories high. As space became more limited they built
an additional story and increased the dimensions to 40 by 80
feet. Later another building, 40 by 80 feet, and four
stories high, was built, and the plant continued at that
size until fire destroyed the old mill. It was rebuilt
and later a lot, 100 by 180 feet, was purchased at a cost of
$40,000 from Robert Mitchell, upon which was
also erected a large building. In 1881, The Egan
Company was incorporated, with a capital stock of
$150,000, by Florence Marmet, Samuel C.
Tatem, Frederick Danner, Edwin Ruthven and
T. P. Egan. Our subject was made president and
practically conducted the affairs of the company. Its
trade was expanded from a local to a world trade, and it
became a keen competitor of J. A. Fay & Company.
The latter concern tried to force the young rival
to the wall and many law suits sprung up concerning patent
infringements, which cost each company many thousands of
dollars. One case was carried by The Egan
Company to the United States Supreme Court, where they
secured a favorable decision. The Egan Company
controlled some 175 patents, and their opponents about 200,
practically all the patents on woodworking machinery.
Their differences resulted in heavy losses to both
companies, but they kept up the fight until 1893. In
February of that year, David Jones and H. B.
Morehead obtained an option on the controlling interests
in both companies, especially the concern of J. A. Fay
& Company, and then began negotiations which resulted in the
consolidation of the two companies. Articles of
incorporation for J. A. Fay & Egan Company were taken
out, with a capital stock of $2,500,000, and the following
men were elected as officers: Thomas P. Egan,
president; Frederick Danner, first
vice-president; A. N. Spencer, second vice-president;
Edwin Ruthven, secretary; A. F. Herbsleb,
assistant secretary; L. W. Anderson, treasurer;
George W. Bugbee, master mechanic; S. P. Egan,
general superintendent; and E. G. Robinson and
George W. Passell, assistant superintendents.
Mr. Egan controlled two thirds of the stock in
The Egan Company and also had invested largely in
Fay stock; upon the reorganization, he was made
president of both concerns. While both are under the
same management, the companies are operated independently.
Each made exhibits at the World’s Fair held in Chicago, and
each received nine awards and one special grand medal, which
is more than was received by any other company in the world.
The plant is one of the largest and most expensively
equipped in the United States, and the structure erected on
the Mitchell property alone cost $235,000 in
equipment, one engine and boiler costing as much as $15,000.
Mr. Egan has had a wonderful career, and
is one of the ablest business men of Cincinnati.
In 1895 Thomas P. Egan organized the National
Association of Manufacturers of the United States, and
became its permanent chairman and first president; this
organization has attracted the attention of both the United
States and foreign countries by the able manner in which it
has been directed. Mr. Egan also
organized the Manufacturers’ Club of Cincinnati and became
its first president. Mr. Egan is a
director in the Ohio Valley National Bank, and also a
stockholder in several other banks. He is also a
member of the great Commercial Club of Cincinnati and the
Queen City Club. The business of J. A. Fay & Egan
Company has prospered very largely owing to its able
management, and the concern has just bought at Bond Hill the
ground to erect one of the most commodious and up-to-date
plants in the United States for making wood-working
machinery.
Thomas P. Egan was united in marriage with
Alma E. Haase, a daughter of Rev. Dr. Frederick Haase,
pastor of the Evangelical Church at Chillicothe, Ohio.
Their children are: Alma E.; Fred; Clifford;
Christine; Edna Raymond; and Virginia.
Mr. Egan is a Republican, but only gives a
passing interest to politics; he was however chosen as one
of the presidential electors from Ohio on the McKinley and
Roosevelt ticket in 1900.
Source: Centennial History of Cincinnati & Representative
Citizens - by Charles Theodore Greve, A. B., LL. B. - Vol. I
- Publ. 1904 - Page 75 |
Julius Engelke |
JULIUS ENGELKE
Source: Centennial History of Cincinnati & Representative
Citizens - by Charles Theodore Greve, A. B., LL. B. - Vol. I
- Publ. 1904 - Page 663 |
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