Our Growth and Innovation
The following is excerpted from Keynote, a company publication, April 1962, as Monroe marks it’s fiftieth year.
Monroe in the past half century has enjoyed remarkable growth. We can be proud of our achievements, even more important, we can look forward to continued progress in the years ahead. The thoughts are those of Malcolm Monroe, son of Company Founder Jay R. Monroe. The occasion: The 50th birthday of the Monroe Calculating Machine Company.
April is significant in Monroe history in many respects. The official founding of the company took place on April 25, 1912. The passing of Jay R. Monroe is commemorated each year on April 29. That same day also marks the birthday of Malcolm Monroe. Our company publications this month are dedicated to these men, and to the thousands of men and women all over the world who have contributed so importantly to the success of the Monroe Calculating Machine Company over the past 50 years.
We all enjoy looking back on the days that used to be, continues Malcolm Monroe. They were good days indeed. Often, however, the years take on a rosy glow when viewed in retrospect, and we call them “the good old days.” When a company is small, there is a closeness of spirit that springs from the mere fact that everyone knows everybody else.
A company cannot stand still, however, and continue to survive. Growth is essential, and brings its own rewards. A growing company is able to provide more jobs for more people, and better able to answer the needs of society for versatile products. Recognition of this truth led us to join with Litton Industries in 1958. In the past two years, other companies have joined with Monroe to form the Business Machines Group of Litton Industries. And this is only the beginning of an era which promises to be one of the most exciting we have ever known.
I like to think however, that we have retained much of our original spirit as we have continued to grow. This family-spirit has always made us unique. It is something we need never lose, no matter how much we may grow. It is a spirit of working together in harmony toward a common goal. It is a spirit that enables us to bend with the blows and come back stronger than ever before. It is a spirit which rejoices in the success of a job well done, but is not content to bask in the achievements of the past.
As we look back with nostalgia on former days, let us not forget the good things of the present and the promise of the future. Progress is not made by taking pride in standards past or present, but by examining these standards critically, by setting ever higher goals, and by working toward their fulfillment.
Monroe continued to grow over the next 40 years. In 1980, the company name was changed to Monroe Systems for Business. This change in name was to reflect the diversification of the company from a calculator-only company to one which addressed the broader needs of the office. During this period Monroe introduced bookkeeping machines, magnetic stripe ledger card accounting machines, programmable calculators, computers, copiers, facsimile and shredders.
In 1984, Litton Industries sold Monroe to Jeffry M. Picower. During the period of Mr. Picower’s ownership, the Company’s focus shifted to maximizing the potential of the office copier market.
In 1998, Monroe Systems for Business, sold the copier, facsimile and shredders businesses to Savin Corporation. Monroe Systems for Business returned its focus to the business upon which its reputation had been built, calculators.
In 2001, Monroe Systems for Business became a privately held corporation with corporate headquarters in Bristol, PA.
Today's Monroe continues to design and market the best printing calculators available, anywhere. The company has expanded the products offered to include a number of complementary products for businesses and professionals with a focus on accounting functions. From high-security shred solutions, currency counting machines, replacement toner cartridges, and more! The product line additions have been enthusiastically embraced by Monroe's loyal customer base.