EXHIBIT 23.1



CONSENT OF ERNST & YOUNG LLP, REGISTERED PUBLIC ACCOUNTING FIRM



We consent to the incorporation by reference in the following registration statements:



| | 1. |  | Registration Statement (Form S-8 No. 33-69668) pertaining to the 1993 Employee Stock Purchase Plan and 1993 Long-Term Stock Incentive Plan,
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| | 2. |  | Registration Statement (Form S-8 No. 33-95052) pertaining to the 1993 Long-Term Stock Incentive Plan of Electroglas, Inc.,
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| | 3. |  | Registration Statement (Form S-8 No. 333-35023) pertaining to the 1997 Stock Incentive Plan and Stock Options Granted Pursuant to Agreement between Electroglas, Inc. and Certain
Employees of Knights Technology, Inc.,
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| | 4. |  | Registration Statement (Form S-8 No. 333-28327) pertaining to the Knights Technology Inc., 1987 Stock Option Plan and Employment Agreements with each of Tom Sherby, Ken Huang, Mary
Korn and Ankush Oberai,
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| | 5. |  | Registration Statement (Form S-8 No. 333-49303) pertaining to Options Granted Pursuant to Agreements made between Electroglas, Inc. and Certain Employees of Techne Systems, Inc.,
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| | 6. |  | Registration Statement (Form S-8 No. 333-62139) pertaining to the 1997 Stock Incentive Plan and the 1998 Employee Stock Purchase Plan,
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| | 7. |  | Registration Statement (Form S-8 No. 333-82209) pertaining to the 1997 Stock Incentive Plan,
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| | 8. |  | Registration Statement (Form S-8 No. 333-38842) pertaining to the 1997 Stock Incentive Plan,
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| | 9. |  | Registration Statement (Form S-8 No. 333-67708) pertaining to the Amended and Restated 1997 Stock Incentive Plan,
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| | 10. |  | Registration Statement (Form S-8 No. 333-67712) pertaining to the 2001 Non-Officer Employee Stock Incentive Plan,
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| | 11. |  | Registration Statement (Form S-8 No. 333-96827) pertaining to the 2002 Employee Stock Purchase Plan, and
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| | 12. |  | Registration Statement (Form S-8 No. 333-103160) pertaining to the 2001 Non-Officer Employee Stock Incentive Plan, as amended;
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of our reports dated March 3, 2005 with respect to the consolidated financial statements and
schedule of Electroglas, Inc., Electroglas, Inc.s managements assessment of the effectiveness of internal control over financial reporting, and the effectiveness of internal control over financial reporting of Electroglas, Inc., included
in this Annual Report (Form 10-K), for the year ended December 31, 2004.



/S/    ERNST & YOUNG LLP

San Jose,
California

March 9, 2005