The story
The Eagle Lock Company was formed by the consolidation of several early nineteenth-century enterprises. The most notable began in 1832, when an English immigrant and locksmith opened a small lock manufacturer in Watertown, Connecticut. This was one of the first American lock works. After two years, his small shop and skills were acquired by the Terryville, Connecticut firm of Lewis, McKee and Company, which was run by Eli Terry, son of the clock maker.
In 1841, after Eli Terry's death, the business was bought by the Lewis and Gaylord Company, and then consolidated in 1854 with the James Terry Company (a maker of carpet bag frames) as the Eagle Lock Company.
Production grew so much that, by the 1890s, the firm was one of the largest trunk lock manufacturers in the world, employing nearly 500 workers. Products included trunk and cabinet locks, as well as high quality security-grade padlocks, and, in the early twentieth century, screw-machine products.
The company experienced precipitous growth with the onset of the First World War, and even greater expansion during the Second World War, nearly doubling the number of employees to 800. With major defense contracts, it became an attractive takeover target for large firms looking to create subsidiary industries. In 1943, with the largest profit margins in company history, Eagle Lock was sold to F. Bowser Inc., of Fort Wayne, Indiana, however it continued to operate under its original name and location in Terryville, Connecticut.
After the War, the board of Eagle Lock deliberated, but never initiated, a move to the southeastern United States for tax purposes. The company’s financial situation began to deteriorate and the company was sold in the 1960s to the Delaware firm of Penn-Akron Corporation. The Eagle Lock Company continued to flounder after the sale, and by the 1970s, faced foreclosure and bankruptcy. While there were attempts to purchase the manufacturing complex, none succeeded, and the company closed in 1975. The majority of the plant was demolished and the land redeveloped.
After the company closed, the employees were honored for over 65 years of work in the town's 175th birthday.
From Wikipedia’s article on Eagle Lock Company, shared under CC BY-SA 4.0.3
