Beginning in 1901, or perhaps a bit earlier, Modern Tool Co., of Erie, Pa., manufactured plain, universal, and internal grinding machines, Wallace patent chaser grinder, Wallace self-opening adjustable die heads, Modern self-opening dies, collapsible taps, and "Modern" quick-change drill chucks. The address was 400 French St., Erie, PA.
On 14 July 1922 the entire business of the Modern Tool Co. was acquired by the Consolidated Machine Tool Corp. of Rochester, NY. We have seen "Magic" quick-change drill chucks marked with the name "Modern Tool Works / Rochester, N. Y.", which presumably was a business name being used by Consolidated to sell the Magic chuck to buyers who associated the product with the "Modern Tool" name.
Information Sources
- The appeals-court decision in Collis Co. v. Consolidated Machine Tool Corp. provides the date on which Consolidated officially acquired Modern Tool, and also provides some interesting background on the Magic chuck and its history.