The company was founded by Belknaps and managed predominantly by members of the Belknap family and their chosen successors until its demise in 1986 when, after over 140 years, it faced bankruptcy and was sold. Terrence Gallaher, editor-in-chief of
Hardware Age said, "In the late '70's, Belknap's Board of Directors came to include a number of outsiders, men who weren't also company officers . . . . The new board saw an opportunity to appoint someone from outside as president. Up to that time, Belknap promoted top officers from within, and virtually all the men in top management had begun their careers on the road, carrying a catalog." The closing of Belknap has been called a tragedy of errors. As early as 1909, the hardware company management sued a newspaper which incorrectly announced that Belknap Hardware was bankrupt. The company was also known as W. B. Belknap from 1840 to 1860, W. B. Belknap & Co. from 1860 to 1880, W. B. Belknap and Co. Inc. from 1880 to 1907, and Belknap Hardware & Mfg. Co. from 1907 to 1986. On July 23, 1968, the
Louisville Courier-Journal carried the
Associated Press,
Dow Jones, and other special dispatches' news that Belknap Hardware and Manufacturing Company was changing its name to simply "Belknap, Inc." The company had not yet gone out of business, but the stockholders the day before approved the change of the name, reasoning that since no abbreviations of firm names were permitted under the new U.S. Fair Packaging and Labeling Act, the full name of the company would be hard to inscribe on small tools. The company's
proxy statement explained that Belknap had not "conducted any manufacturing operation for many years," and that it carried much merchandise that was not hardware. Although not a manufacturer at that time, Belknap was still distributing items made for it "by other manufacturers under at least nine Belknap trade names." In 1923, the Belknap Hardware and Manufacturing Building was built at 101-23 East Main Street in Louisville's General Business District on the site of the second
Galt House. It was designed by the architectural firm of
Graham, Anderson, Probst, and White of Chicago and at the time it was "the largest single-unit hardware plant in the world. . . .". For a while the building was the location of the Presbyterian denomination's National Headquarters and is now known as the Waterside Building and is occupied by the
Humana Corporation. Photographs of the actual demolition by explosion of a defunct Belknap building were used as promotional preview advertising for the 1993 film,
Demolition Man. The
Heyburn Building, on the
National Historic Register since 1979, until 1955 was the tallest building in Kentucky. It was completed in 1928 and named for William R. Heyburn, a former president of Belknap Hardware and Manufacturing Company. This
skyscraper's height was surpassed as the result of an addition to the top of the now defunct
Commonwealth Building, which was imploded in 1994. A former home of members of the
William Richardson Belknap (1849–1914) family,
Lincliff, was owned by detective fiction writer
Sue Grafton and her husband Stephen F. Humphrey and is on the
National Historic Register. ==References==