• U.S.

Business & Finance: Graybar Electric

2 minute read
TIME

The business of the Western. Electric Co. has long consisted in manufacturing telephone equipment for the Bell telephone system and other clients, and making other electrical supplies. The latter activity has recently been segregated and incorporated under the name of the Graybar Electric Co. Capitalized at $15,000,000, all owned by Western Electric, the new company is the world’s, largest merchandiser of electrical supplies.

The name of the new corporation is derived from those of Professor Elisha Gray and Enos M. Barton, who formed a partnership in 1869 to manufacture electrical equipment. Gray was a professor in Oberlin College, and his inventions composed the partnership’s chief assets. Barton was a telegraph operator, who put $400 into the business by mortgaging his mother’s house. In 1872 the original partnership of Gray & Barton reorganized as the Western Electric Manufacturing Co. In 1881 this was re-christened the Western Electric Co. In 1882 the concern began manufacturing telephone equipment for the Bell system.

The new company, Graybar Electric, thus represents a reversion to the original business of Gray & Barton 56 years ago, before telephone supply manufacturing was undertaken. It is thought that this is the first known case where a company in this country, after such a period of years and such a tremendous growth, has reverted to its original name and business.

More Must-Reads from TIME

Contact us at letters@time.com