Showing posts with label banks. Show all posts
Showing posts with label banks. Show all posts

Friday, December 17, 2021

There’s Nothing So Liked by a Small Boy Than a Toy Truck

 

QUESTION: As a kid, I loved playing with three little cast-iron trucks. It’s only recently that I learned that they may have been made by the Kenton Toy Company when I saw one of the trucks I had at a small antique show at the local volunteer fire company. The dealer said she believed that the truck had been made by Kenton. Can you tell me anything about Kenton’s cast-iron toys?

ANSWER: At the turn of the 20th century, the Kenton Hardware Company promoted itself as "the largest factory in the USA exclusively making cast iron toys." The factory produced a variety of toys that were miniature versions of fire engines, circus wagons, carriages, banks, trains, and stoves. From the 1890's to the 1950's, the town of Kenton, Ohio, was a center of American cast-iron production.

F. M. Perkins founded the Kenton Lock Manufacturing Company in Kenton, Ohio, in 1890. The firm first produced high-quality, elaborate bronze and brass locks, and coat hooks. 

Perkins didn’t begin manufacturing toys until 1894 when a series of patent disputes caused Perkins to change the name of his company from the Kenton Lock Manufacturing Company to the Kenton Hardware Manufacturing Company. Kenton’s line consisted of banks, horse-drawn vehicles, and stoves. The production of the Columbia Bank, a souvenir of the World's Columbian Exposition, which provided a successful launch into the U.S. toy market.

What followed was a wide range of toy vehicles—hansom cabs, sulkies, surreys, chariots, fire-patrol carts, sedans, racing cars, buses, blimps, air-planes, milk wagons, bakery wagons, bandwagons, dump trucks, lumber trucks and circus trucks. Also, mechanical and regular banks in the forms of teddy bears and polar bears, the Statue of Liberty, the Flatiron building, radios and other playthings such as cap pistols, ranges and miniature sadirons.

Kenton constructed its toys from several parts, each of workers cast in a mold into which they poured the hot, liquid iron. After a short cooling period, they opened the  mold and removed the part. They then assembled the separate parts with rivets or bolts. Because of their rough surfaces, cast-iron toys couldn’t be lithographed like tin ones. Workers then hand painted or dipped the toys in two or three bright colors.  


Kenton became part of the National Novelty Corporation combine in 1903. It marketed its toys under the Wing Manufacturing brand. Fending off a series of takeover attempts, the toy division survived as a separate unit within Kenton Hardware Company. It continued to manufacture cast iron toys from 1920 to 1935.


Like most other businesses, the Kenton Hardware Company suffered during the 
Great Depression, so much so that it was in danger of going bankrupt. Then, just as Shirley Temple saved the Ideal Toy Company and Mickey Mouse did the same for Lionel trains and Ingersol watches, another popular icon came to the rescue of Kenton. Gene Autry saved the day with the Gene Autry toy pistol.

Vice president William Bixler persuaded the company to manufacture a copy of Gene Autry’s pearl handled six-shooter. Autry sent one of his guns to Ohio to assist in the creation of a child’s size model. Joe Solomon made the master mold in 1938. By 1939, over two million Gene Autry Repeating Cap Pistols had been sold.

Introduced in December 1937, it became a huge success in both the U.S. and then the world. One million were sold from February to August of 1938 alone, keeping the factory going night and day.

The peak of cast-iron toy production extended from shortly before the turn of the 20th century until the 1940's, when lighter-weight models that were less expensive to produce and transport superseded them. Kenton ceased production of horse-drawn toys in the early 1920's, except for a beer wagon made in the 1930's, but in 1939 the firm introduced a completely new line of horse-drawn toys, which continued through the early 1950's.

Most of these toys, except for the early banks and stoves, weren’t marked. Company catalogs, the first of which appeared in 1892, can help with identification. Prices for authentic early pieces in good condition can sell for four figures for some horse-drawn Victorian carriages and fire vehicles.

Kenton ceased operations in 1952. 

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Wednesday, April 27, 2016

A Penny Saved is a Penny Earned



QUESTION: I’ve always liked cast-iron banks. I see them displayed on the counter at my bank—I’m sure these are reproductions. So when I discovered one that wasn’t too pricey in a local antique shop, I scooped it right up. The bank has its name, “Jonah and the Whale,” displayed in a panel underneath the figures of Jonah and the whale. How can I tell if the bank is authentic? And what can you tell me about this bank?

ANSWER: Cast-iron mechanical banks have always been a favorite of American collectors. Perhaps it’s because they recall our country’s heritage, but more likely because they’re cute in a clunky sort of way.

Collectors have sought after old mechanical banks for over 50 years because of their  nostalgic look at America’s past.
 
Mechanical banks began to appear shortly after the end of the American Civil War and the American public was eager to purchase them. At the time, a severe coin shortage occurred because people saved them. In fact, the situation got so bad that shopkeepers had to resort to using postage stamps to make change. Both the Union and Confederate governments began issuing paper notes to supplement their coinage and help relieve this problem. But people didn’t like paper money because it could become worthless quickly. Coins, on the other hand, would always retain the value of their metallic content.

So mechanical banks became a product of the times and their popularity remained strong well into the 20th century. Not only were they fun toys, but parents could effectively use them to teach their children the practical aspects of being thrifty.

The Shepard Hardware Company of Buffalo, New York, was probably the premier maker of cast-iron mechanical banks. Walter J. and Charles G. Shepard founded their company to produce various pieces of hardware, but in 1882, they began a sideline business making cast-iron mechanical banks. Charles was an inventor.

Shepard entered into the mechanical bank field in about 1882 and available information indicates they sold out their line of toy banks in 1892. The impact Shepard had on the mechanical bank market was astounding when you consider the fact they were able to design, patent, produce, and effectively distribute 15 high quality banks within a time span of only about 10 years.

Their banks sold for $1 each, but dealers could purchase them wholesale for $8.50 a dozen, or about 70 cents each.

All Shepard banks had these common features. First, their artistic paint jobs were unsurpassed for attention to minute detail. Unfortunately, the company didn’t use any primer coating to prepare the metal for painting, so the paint eventually flaked off their banks.

Second, each Shepard bank has its name embossed on one of the casting pieces. The name is generally in large bold letters located on the front panel of the bank. Other cast-iron bank manufacturers didn’t put the names of their banks on them. This resulted in many banks becoming known by names other than the ones originally given to them by their makers.

Third, each Shepard cast-iron bank is very heavy for its size. It’s almost as if cast iron was free and had no bearing on the production cost of the items.

In all, Shepard produced 15 different banks. They have become known for two in particular—the Uncle Sam bank (discussed in my blog from July 8, 2015) and the Jonah and the Whale bank. Charles Shepard received a patent for the latter bank on July 15, 1890.  The overall length of the bank was 10-1/4 inches.

Shepard decorators painted the side and end plates of the base with yellow corners, and the letters of the name in gold. They striped the edges of the bottom plate and top part of the bank in yellow and black and painted the water and waves realistically in light bluish-green with white highlighting. The whale is a dark green-black color with a red mouth and white teeth. The boat is an off shade of yellow with stripes of gold, white, blue and red. The robes on the two figures are red and blue, and they have white beards, flesh color faces and hands.

To operate the bank, a person would place a coin on the back of the figure of Jonah. Then the user would press a lever, recessed in the end plate under the rear of the boat. As the whale opened his mouth wide, the figure holding Jonah moved forward in the boat towards the whale. The figure of Jonah tilted downward as though entering the whale's mouth, but instead the coin flew off his back into the whale. Releasing the lever returned the figures in the boat to their original position. The whale’s mouth closed and re-opened as though swallowing the coin. The whale’s lower jaw continued to move up and down for several seconds after the action takes place. To remove the coins, the user would use a key to unlock a trap in the underside of the base.

In 1892, Charles and Walter Shepard sold their cast-iron savings bank business to J. & E. Stevens of Cromwell of Connecticut.

Today, original Jonah and the Whale banks bring very high prices—if they’re in mint condition. Unfortunately, most are not.

Tuesday, November 18, 2014

Documenting Your Collections



QUESTION: I’ve been collecting older items for the last 20 years or so. I’ve got several collections of moderately valued antiques, but I have little information on them except my own knowledge. What is the best way to document my collections?

ANSWER: That’s a very good question. Many people enjoy the fun of collecting antiques but don’t take the time to manage their collections. Before you can successfully manage your collections, you have to gather some information on the items in them. And with today’s technology, that’s easier than ever.

Today, more people collect antiques than ever before: Collecting is a personal thing and most people do it for sheer enjoyment. They choose some objects carefully to build or enhance their  collections, acquire others to use everyday, and inherit still others. Each collector treasures each item in their collections, yet many other people don’t understand the appeal or the value of it. But the value of some antiques has been rising steadily over the last decade, so collecting can represent an investment as well. What many collectors lack is a comprehensive record, with supporting documents, of objects they own. As antiques increase in value, it’s important to know about what you own. Even if you don’t think of your prized objects as part of your tangible financial assets, be assured that the IRS, insurance companies, banks, and courts do.

"To document" means to create a record that thoroughly describes an object and which also contains related documents about it, and keep together this record and supporting information on each object.

Some types of documents you already have, or can easily acquire, such as a bill of sale, a note accompanying a gift, a snapshot, a printed description, a program from an exhibit, biographical information on the artist or maker, a description and picture of a similar object perhaps from a newspaper, magazine, or the Internet, a copy of a mark on the object, and others. You can also record the family history related to the object. The objects in specialized  collections— furniture, dolls, quilts, kitchen utensils, guns, tools, even sports and music memorabilia—are prime candidates for documentation. Museums document each object in their collections. So it’s only natural that you should do the same for reasons of insurance, family heritage, preparing for appraisal, certain types of tax benefits, and connoisseurship.

At the very least, you should know what you paid for each object. Some insurance companies require you to put certain valuables, such as jewelry and fine art, on a special schedule. Often they also require an appraisal for the most valuable pieces.

In case of theft, loss or damage by fire, flood or national disasters, you need to prove ownership of any object claimed, and provide descriptions with supporting information in order to be compensated or to help the police identify and recover your stolen valuables. If you cannot do so, you risk loss of compensation in addition to being permanently separated from your treasured object. The more adequate your proof is, the greater the chances that you’ll be satisfied with the compensation you receive. You can spare yourself some of the anguish that comes from experiencing the loss itself, or with an inadequately compensated loss by documenting your objects before the loss occurs. It’s more difficult to document after a loss occurs, and perhaps it cannot be done at all then. You would also be dealing with all the emotions associated with loss of objects, and perhaps your entire home. In your lifetime, expect a possible loss sometime, and prepare for it. Documenting is a great help because it gives you control over the objects in your collections.

Every home has objects of value—whether monetary, sentimental or family-related. Documenting can help you decide which objects you want to give to certain heirs. Recording the provenance and capturing the family history associated with a particular object provides a a more complete picture for yourself and your heirs. Don't neglect to pass on the family stories associated with an object. Don’t depend on those stories being passed down verbally. Write them down. Additionally, family pieces are often carelessly sold or given away because succeeding generations are unaware of their actual or sentimental value. This is often done in the haste to clear a house after a loved one’s death. By documenting, you can assure to some extent that pieces will remain in the family, or at least that someone will make an educated decision before selling or giving away an special object.

If you insure valuable antiques, your insurance company will usually require you to provide them with a professional appraisal. However, not every object in your household needs to be appraised. Documenting can help you decide which objects to have appraised, plus it can also provide the appraiser with valuable information, thus saving time and reducing the cost of the appraisal. The appraisal then becomes part of the documentation on your object.

If you sell an object or give it to a museum or other institution, your documentation can provide detailed information from acquisition to sale or gift, thereby providing you with a factual basis for tax benefits. Museums look upon documentation as a benefit, as it provides valuable family and cultural history about your object for its visitors.

Documenting is a part of connoisseurship, or caring for your collection, thus enhancing your and others' enjoyment of it. You care for your objects by learning how to clean, store, display, or use them, by assuring certain temperatures, or keeping certain objects from direct sunlight. By continuing to learn more about the objects you like to collect, you’ll enhance your enjoyment of your collections.