Since 1910: A Brief History of Marchant Calculators

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1922 - The first full keyboard model was the initial
departure from the original Marchant design.

Edgar B. Jessup
President and General Manager from 1933
until retirement at the close of 1957.

New Models Introduced

In the meantime, design and development had culminated in a radical departure from the barrel-shaped lever-set models making up the original Marchant line. In 1922 the first keyboard model was introduced. The setting levers had been brought up front, with controls and numeral keys grouped in an arrangement familiar on today’s keyboard calculators.

In 1923 another Marchant first was recorded through introduction of an electrified full keyboard model performing automatic multiplication. In quick succession Marchant introduced startling innovations–electric clearance of the dials, automatic division, and semi-automatic operation (without automatic multiplication, but having other automatic features).

During the 20’s, a swift product improvement was accompanied by aggressive sales efforts through a steadily growing network of sales offices. The curves of both domestic and export business turned constantly upward,. with 1929 being the top sales year of the decade.

The Great Depression

After the stock market break in the fall of 1929 and on into the depression years of the early 30’s, Fortune’s smile waned. Sale volume reflected the worsening national economy and fell off to a dangerously low level. At the same time, and as a natural consequence, inventories of completed calculators were abnormally high. With heavy operating losses in three years, corporate assets became depleted.

Recovery

In 1933, Edgar B. Jessup, who had established an outstanding sales and administrative record in the business machine field, was brought to Marchant by the board of directors and placed at the helm of the company. Mr. Jessup moved swiftly to cut cost to the bone and to boost sales.

Manufacturing was simplified by reducing the number of models from 40 to only two. Around a nucleus of loyal sales personnel a new selling organization was built and then infused with enthusiasm for both company and product.

By 1936 Marchant began paying dividends from earnings and the financial world thought so well of the company’s potential that the price of Marchant’s stock had shot up to $22.00 from a depression of 50 cents.