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He developed the first automatic storage tank gas-fired water heater, which went into production in 1889. [39] Ruud worked for George Westinghouse (1846–1914), but eventually bought the rights to produce the product he invented and formed his own company in 1897.
The company was founded in 1901 at 160 East Lake street in Chicago as the McMaster-Davis Supply Company. [6] [7] Starting with $50,000 in investor capital, its founders were T.J. McMaster, a former stationary engineer, and F.C. Davis, who had been a chief engineer in the U.S. Navy.
The management team transformed the low-tech space heater company into a viable corporate platform for acquiring multiple successful small companies. This strategy of "buying growth" coupled with sound management proved successful. At the end of its first year the corporation listed on the New York Stock Exchange.
1.25 V or 1.4 V AC from a separate heater winding on CRT horizontal-output transformers, in half-indirectly heated EHT rectifiers; E – 6.3 V parallel heater; for 3-cell lead-acid vehicle crank batteries (mobile equipment) and for AC mains or horizontal-output transformers; F – 12.6 V DC parallel heater for 6-cell lead-acid vehicle crank ...
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