Formation of the Sayre and Fisher Brick Company
(Sayreville Historical Society, 2001)
In 1922 a fire at the S & F plant caused considerable damage. Nevertheless, the Sayre and Fisher Company was at the peak of its efficiency, production, and quality of product. As a result, a group of utility interests, headed by Harley Clark of Chicago, opened negotiations for the purchase of the company-owned power plant and the utility franchises held by the Sayreville Electric Light & Power Company, through which power was provided to the borough's streets and residents' homes. When the negotiations were finished, the utility interests had agreed to purchase the entire brick plant as well as the utility.
In connection with the purchase of the S & F Company in 1926, a bond issue of approximately $3,000,000 was issued which was widely subscribed to by investors all over the United States. After the sale was consummated, a new corporation was organized, called the Sayre & Fisher Brick Company. In addition to the bond, the new company issued preferred and common stock to raise additional capital for plant improvement and expansion. Upon the sale of the company, the power plant was severed from the brick manufacturing plant and formed the nucleus around which the Jersey Central Power and Light Company subsequently built its facilities and franchises in Sayreville (Sayreville Historical Society, 2002: 79; Karcher, 1953: 19-21).
An unexplained fire broke out on the evening of February 25, 1922. It began in one of the stock sheds (used to store bricks) and spread to other stock sheds and two kiln sheds. Douglas Fisher, one of the owners at the time, estimated the damage at $40,000, not an unsubstantial sum at the time (Home News Tribune, 2002: 112).