Veit & Young

Huntingdon Valley, PA - Synopsis:

1925: Founded in Philadelphia, PA by Hermann Veit & Gottlob Young

1945: Moved to Huntingdon Valley, PA; Gottlob Young's share was bought out by Carl F Haeussler

1991: Business closed 

The below text comes courtesy of a family member:

 

My uncle Hermann Veit came from Germany in 1925.  He was a machinist by trade there.  He partnered with Gottlob Young to start Veit and Young in 1925.  First place was the basement of a home at 5th and Chelten in Phila.  Later moved to American Street by the Delaware River then to Olney for during WW II.  (even though they were all German they had top clearance and did a lot of work for the Frankford Arsenal)  They made a lot of parts for our cause.  My father had come over in 1929 from Stuttgart.  His sister Eugenie (my aunt) was married to Hermann.  After the war, Hermann wanted to move into the suburbs (Huntingdon Valley. PA) but Gottlob did not want to move from the City.  He told Hermann, "buy me out".  Hermann said "no" but lent the money to my father to do so.  But they kept the name.  This all transpired in 1945.  My Dad became the partner and in 1957 they incorporated.  Since I was 13 I worked at the plant whenever I was not in school and got every dirty job they could find.   After College and 5 years in the Sears training program I left Sears and "came home" to the "family" business as Controller and later V. Pres. and CFO (when Dad retired in 1981)    By that time Herman C. Veit (my cousin - Hermann's son) had become Pres.   Hermann died in 1974.   In 1991 Herman C decided he wanted to sell out  (owned majority interest) so there was an auction and everything went.  In 1993, Herman C. passed away. 

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