{{short description, Laundry Machine Firm
General Laundry Machine was a
Troy, New York
Troy is a city in and the county seat of Rensselaer County, New York, United States. It is located on the western edge of the county, on the eastern bank of the Hudson River just northeast of the capital city of Albany, New York, Albany. At the ...
firm which became a casualty of the financial collapse during the
Great Depression
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and ...
. It failed as a result of the impact of the nationwide economic decline in the
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...
, in the 1930s.
Company history
The company was formed in June 1927 from a merger of the Tolhurst Machine Works and the Wiley-Ellis Company. Tolhurst
corporation was started in 1852 and was based in Troy and
Green Island, New York
Green Island is a coterminous town-village
A village is a human settlement or community, larger than a hamlet but smaller than a town with a population typically ranging from a few hundred to a few thousand. Although villages are of ...
. Wiley-Ellis was founded in 1889 and maintained properties in
Chicago, Illinois
Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of Unite ...
and
Columbia, Pennsylvania
Columbia, formerly Wright's Ferry, is a borough (town) in Lancaster County, Pennsylvania, United States. As of the 2020 census, it had a population of 10,222. It is southeast of Harrisburg, on the east (left) bank of the Susquehanna River, ...
.
General Laundry Machine acquired the primary assets of the Paramount Laundry Machine Company of
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...
in December 1929. The takeover was made possible by an exchange of stock. It brought about satisfactory ''economies of operations'' through the combination of the sales forces of the two companies.''Gen. Laundry Machine'', Wall Street Journal, December 20, 1929, pg. 6.
In May 1931 the corporation's assets exceeded its liabilities, yet it became insolvent because it was unable to pay its debts as they came due.''General Laundry Machine'',
Wall Street Journal
''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...
, May 20, 1931, pg. 15.
See also
*
Troy Laundry
The Troy Laundry Machinery Co., Ltd. was a Troy, New York, laundry machinery manufacturing company which incorporated on January 1, 1881. The company made hydraulic washers, wringers (mangles), starching machines, dampners, calenders, and shirt, ...