As I write this in September 2025 Hay Budden anvils are still considered as Richard Postman states in his book Anvils in America the “Rolls Royce of anvils”. Now just over 100 years later they are still one of the most sought after anvils.
Postman describes the end of the Hay-Budden Manufacturing Company:
“Mr. Hay apparently wanted to retire and leave the business and in order to do so sold off his share of the equipment about 1925, after which the company never recovered. Advertisements in blacksmith publications indicate that they were still selling or making anvils in 1925. I was told that the company also tried to get into the auto engine block business at this time. What really happened to the company was known only to the management at that time, but with the beginning of the depression in 1929 the end came. The Hay- Budden Manufacturing Company was dissolved by proclamation on December 15, 1930. 17 (AIA Page 284-285)
17 From a phone call to the New York Secretary of State
Also mentioned in Anvils in America:
In 1926 the Hay-Budden Manufacturing Company ordered a number of anvils from the Columbus Forge and Iron Company. Most likely they were filling some final orders.37
37. From the Columbus Forge and Iron Company Serial Number Books
In the New York Times dated 7 February 1925 under Bankruptcy Proceedings Petitions filed against:
- Newtown Creek Coal and Coke Co. for $2000
- Gertrude Werner $650
- Andrew Watson & Sons $1000
The following day the New York Times states on page S6 Bankruptcy Proceedings dated 8 February 1925 Judge Garvin appointed David R. J. Arnold in bond of $3,000
BANKRUPTCY NOTICE on Mar 24 1925 states public auction for Wed Mar 25 1925 consisting of machinery, fixtures, office furniture, safes, bagging and anvils
An article in the April 1925 The Canadian Blacksmith and Woodworker Magazine mentions this notice:
Hay Budden Mfg. Co. Out of Business
A petition in bankruptcy has been filed against the Hay Budden Manfg Co., Brooklyn, New York and D. R. J. Arnold has been appointed receiver of the said company Hay-Budden were one of the pioneer anvil manufacturers of North America.
No orders for their product can now be filled and all orders sub-mitted have been cancelled. The business ceases and will not continue after receivership, as the assets have been liquidated. Any anvils now on the premises for repair should be sent for, as they cannot now be handled.
From Hardware Age Magazine 16 April 1925 page 58 Ross & Fulller are no longer distributors of Hay Budden as they “discontinued business.
A Times Union notice on Wed, Apr 22, 1925 states the auction of trucks, scrap iron , and anvils the following day.
A Times Union bankruptcy announcement “HAY BUDDEN MFG. CO., INC., BANKRUPT” from Wed, May 06, 1925 mentions an offer from Irving Holding Corporation to pay the trustee $42,000 for real property, machinery and fixtures on May 11. The April issue states assets have been liquidated.
In the 1929 Tariff Readjustment By United States. Congress. House. Committee on Ways and Means Willis speaks about the effects of tariffs on the anvil manufacturing industry. A duty was first placed on anvils with the 1894 McKinley act. prior to that all wrought anvil were imported. By 1929 Hay Budden was one of three of the anvil makers no longer in the business of the five mentioned.
I am not sure what Postman means by Columbus “serial number books” in relation to Hay Budden anvils being ordered in 1926. They may have been bought at a bankruptcy sale. With these period articles it seems that 7 February 1925 marked the the beginning of bankruptcy proceedings and the end of the less than 40 year existence of the Hay Budden Manufacturing Company. This makes every Hay Budden in existence a genuine antique whether collected or still being put to work. A great legacy of American Manufacturing carried on by today’s craftsmen.