The story of Pittsburgh: Diversified products

Diversified products (Vol. 1, nr. 13)

Bibliographic data

Multivolume work

Identifikator:: 1831622599

Document type:: Multivolume work

Title:: The story of Pittsburgh

Place of publication:: Pittsburgh

Publisher:: First National Bank

Year of publication:: 1919-1930

Collection:: Economics Books

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Volume

Identifikator:: 183162365X

URN:: urn:nbn:de:zbw-retromon-241129

Document type:: Volume

Title:: Diversified products

Volume count:: Vol. 1, nr. 13

Place of publication:: Pittsburgh

Publisher:: First National Bank

Year of publication:: 1927

Scope:: [ca. 80] Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: The Keystone Driller company

Collection:: Economics Books

or May of 1883, but shows the plant as it was in the organ- ization of the business, February 2, 1882. Across the top of the picture you will notice two cables. These are not telephone wires, or electric service lines, but were used in transporting power from a 10-HP water turbine in the mill race across the street, to operate the plant. By 1902 considerable expansion had taken place, several large wooden buildings had been added and about one hun- dred men were employed in all departments. Following a machinists’ strike the plant was almost entirely destroyed by fire, in November of that year. The newly erected brick fire-proof office building at Twentieth street and Eighth avenue escaped and forms the front of the present office. An issue of preferred stock with a guaranteed dividend of 8% was placed on the market to raise some of the money needed for the construction of new and better buildings. At this time the paid up capital stock was about $250,000. and the annual business had grown to nearly that amount. Additional much needed ground was obtained by the pur- chase of the adjoining plant of the American Steel and Wire Company. All the new buildings now erected were of modern fire-proof construction. John Galbraith Downie, younger brother of Robert M., was the inventor and patentee of the Downie Double Stroke Deep Well Pumps, about 1888. These were manufactured by the Downie Pump Company, of New Brighton; later moved to a new plant at Downieville, Penna. In 1907 the established business of the Downie Pump Company was bought out by the Keystone Driller Company, and moved to Beaver Falls. During the first decade of the century Keystone Drills were greatly improved, new sizes were added to the catalogue; machines were adapted to new uses, such as mineral prospecting, placer gold testing, blast hole drilling in quarries and oil and gas well drilling. The responsibilities of management were divided between R. M. Downie, general manager, and Frederick W. Ransom, assistant general manager and treasurer. In 1912 the company, by purchase of patents and direct development, produced a light traction power shovel, usable with the novel “Skimmer” and “Pull Stroke” ditcher

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