Windham County reformer. (Brattleboro, Vt.) 1901-1906, 1902-12-24
THE ESTEY MANUFACTURING co.
Interesting Story of Its Foundation and
Growth Money TOR 0wasso Factory Fur
nished by Jacob Estey.

\ recent issue of the Michigan Arti-
san contains the following interesting
account of the growth of the Estey
Manufacturing Co., of Owasso, Mich
/ Some thirty-three or four years ago
/ ID. NJ. Estey was engaged in making
bedsteads in a small town in Vermont.
Among the dealers he called upon was
Mr.. Tooley, who was located in a
small town in Connecticut. This was
about the time that painted chamber
suits were beginning TO sell well and
Mr.. Estey suggested to Mr. Tooley
that they join forces and become man
ufacturers. going to Michigan so as to
get their lumber cheaply. Jacob J.
Estey uncle of d. NJ. Esteyl owned
sawmill on Six Mile creek AT West
haven, Mich, which afforded a good
water power all the year, and he adj
yised Estey and Tooley to locate at
Westhayen, which they did in 1870
The machinery and cabinet work were
done in Westhaven, after which the
goods were hauled to Owass0 six
niles where they were shipped to De
troit to be painted and decorated, and
reshipped To the dealers throughout
Ohio, Pennsylvania, New York and
other states.
The business thrived so that in 1872
furniture dealers in Detroit agreed to
invest sufficient sum of money to
warrant the formation of stock com
pany, capitalized for 500 900. The
stock was subscribed for all right, but
before any part of the money had been
paid in the panic of 1873 struck the
country and as "A result not one dollar
of that subscribed was ever paid On
the strength of the money subscrip-
tons for stock Estey Il Tooley had en-
larged their plant and begun the in
stallation of machinery. Failing TO get
the money they were Obliged to assign.
The business was conducted by the as,
signee until about 1873. And at this
point Charles +. Rigley became some
what of a factor in directing the course
of the affairs of the firm, He had been
with Estey IL Touley as a decorator
since 1870, and though he was making
from $50 10 SO week painting bed
steads, be quit work to accept posi-
ton in the Office a. book keeper at so
a month, in order to gain the business .
experience which could not be had in .
the factory. One day he suggested to
his employers that the proper place for
strated 10y figures that economies
would be affected by building fac
tory at that place and disseminating
the Westhayen factory. Mr. Estey be
came convinced Of the Soundness Of
Mr.. Riglry's suggestion and took the
matter to his uncle, Jacob Estey, who,
feeling that Estey ~ Tooley had come
to Michigan largely on his suggestion,
finally agreed To advance $4,000 for
the establishment of the Owasso fac
tory, which was accomplished in 1915,
Theu the firm began business As the
Dwasso Manufacturing company. The
firm prospered SO that in ISIS the Is
ley Manufacturing company was incur-
poratel with capital stock Of 500,
400, all above SO, 900 representing the
profits of the three years operation
and a little water, possibly. From
hat day to this no one has ever in
rested one cent in the company aside
rom his share of the profits of the
business, and although the investment
exceeds one half million dollars, the
owners of the original $1,000 invested
control the stock of the company.