J. & E. Stevens Company

Founded in 1843 in Cromwell, Connecticut, J. & E. Stevens evolved from hardware and tools to become legendary for their cast iron mechanical banks. With iconic designs like Tammany and William Tell, they shaped a golden age of American toy craftsmanship until closing in the 1950s.
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J. & E. Stevens Co.: Pioneers of the Mechanical Bank Era

In 1843, brothers, John and Elisha Stevens founded an iron works in Cromwell, Connecticut. Soon thereafter, William Keightly, an experienced and talented iron mold maker, joined the partnership. In its early years, the company produced a few toys, coat and hat hooks, door and shutter hardware and tools. Russell Frisbee, an astute businessman, joined the firm in 1866. By 1870 production had increased, and the company was making 1000 different things.

Around 1869, the company began producing cast iron mechanical banks like the Hall’s Excelsior and Horse Race banks, which were the first two mechanical banks made.

In 1889, Charles Bailey joined the company as its chief bank designer and introduced the graceful floral designs which became representative of the banks he created. By 1890, J. & E. Stevens abandoned the production of tools and began focusing only on banks and toys. In 1928, the company discontinued the production of banks and moved to cast iron cap pistols, which it made up until the mid-1950’s when the firm closed its doors forever.

Some of its most-appreciated mechanical banks include the Tammany, Panorama, Cupola, Frog on Base, William Tell, Bank Teller, Preacher in Pulpit, Novelty, Magic, I Always Did Spise a Mule, Owl Turns Head, Two Frogs, Reclining Chinaman, Darktown Battery, Girl Skipping Rope, Clown on Glove, Cat & Mouse, Calamity, Harlequin, Indian and Bear, Professor Pug Frog, Bread Winners, Dentist, Milking Cow, Bad Accident, Chief Big Moon, Shoot the Chute, Teddy and the Bear, Lion Hunter, Boy Scout Camp, Artillery and Eagle and Eaglets banks.