Henry Timken Quotes
102 Henry Timken Quotes
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[In 1915] I feel that in a way a critical period has arrived for our bearing business. You must not overlook this fact, namely, that… heretofore we have had no substantial competition in the tapered bearing business [because] we knew a great deal more about the manufacture of such bearings than anybody else in the world, but that condition exists no longer in the same degree.
Henry Timken
[In 1926 being vertically integrated and producing its own steel and converting that steel to seamless tubing in its own mill.] We feel that we have gotten ourselves into the position… to manufacture tapered roller bearings of the highest quality at an absolute minimum cost.
Henry Timken
[On concentrating on its core product.] The entire efforts of our whole organization for many years have been along this one line.
Henry Timken
[On being requested on numerous occasion to undertake production of ball bearings and straight roller bearings over the tapered roller bearing.] We have not considered it advisable to engage in that business, nor do we at this time consider it advisable that we should do so.
Henry Timken
[In 1926] I myself expect to continue in this bearing business and am getting considerable satisfaction out of developing new uses for Timken bearings. Doubtless all three of you are like me, in that the money end of the business is no longer very interesting but the constructive end of the business is more interesting than ever.
Henry Timken
[In January 1915 on lowering prices immediately in the short run to win the large contracts that would enable his bearing plant to operate at efficient levels of production. Thereby accepting lower margins but prospering by selling a large volume of goods.] We must get away from the fancy prices we have been charging in the past and not in a year or two, but right away.
Henry Timken
[In January 1916 to W. R Timken during wartime.] Our gravest trouble now is to get steel… We have to have the steel.
Henry Timken
[In January 1916 to W. R Timken during wartime on producing their own steel.] We must not overlook the fact of the huge combinations being made in the automobile business. The result is going to be that they will… make their own goods unless they can buy them at very little above the cost to them of making the goods themselves.
Henry Timken
I have personally made up my mind that the thing for us to do is to proceed with this steel mill forthwith.
Henry Timken
[On being told in 1917 that Harold Wills of Ford considered Timken’s manufacturing process outdated.] I learned a lot from you that day, and when I came home, immediately started to look the situation squarely in the face.
Henry Timken
I sincerely believe that if you will give us a real opportunity some day before long we will be able to show you a real bearing on a Ford car that you could afford to use.
Henry Timken
[In 1919 on a competitor Bock Bearing Company having a strike that had shut down it’s plant for many weeks.] Every Bock customer has tried to buy bearings from us and we have not been able to take on a single one. This large strike has called to the attention of our large customers very forcibly their precarious position depending solely on… [one supplier.]
Henry Timken
[To W.R. Timken in March 1922 on listing the company with a public sale of one-third of the company’s shares for $10.4 million and W. R. wanting to wait for a higher price.] You do not know anything about this business, nor do you pretend to know, for you have given up every effort to be of any assistance in the business for the last six years. Now… you want to speculate and let this thing go over in the future on the theory perhaps that you might get a little higher price. Don’t block the rest of us in consummating a good sale and providing a good future market in order that you may make a little extra gambling profit. [W.R. Timken fell in line but seems to have been a good sounding board for Henry H Timken.]
Henry Timken
[He got] Considerable satisfaction out of developing new uses for Timken bearings.
Henry Timken
[In 1922] Timken bearings, are in a class by themselves as far as superiority and durability are concerned.
Henry Timken
[In 1919 on the Gilliam Manufacturing Company and the danger of complacency.] They will no doubt develop a small mediocre concern manufacturing tapered bearings. [Within a few years they were making inroads into some of Timken’s established customers.]
Henry Timken
[In 1921 on becoming less complacent and more humble.] About two years ago we did not keep up with the procession in the design of the bearing, the quality of the steel , and somewhat in the workmanship. They undoubtedly endeavored then to get higher prices than we were getting. When we woke up to this fact you know we purchased the Neal patent, and went to the molybdenum steel and jerked up our factory on quality of workmanship… In this one respect, the Gilliam Company did us a good turn, namely, we were too prosperous and getting dead on our feet.
Henry Timken
[In January 1931] With reference to… the Bower Company, or the S. K. F. or anybody else. I think we have got to make up our minds that the day has passed when we can buy all competition and thereby keep up fancy profits… I realize that you, myself and all the rest of our organization have never been thoroughly trained in combating competent competitors. I have no doubt that it is going to be a difficult lesson for us all to learn, but I think the time has arrived when we might as well all make up our minds that that is the future condition we must face.
Henry Timken
[In January 1931] The only stability we can ever hope to have is meeting all competition by superior management…
Henry Timken
[In January 1931] Don’t you agree with me that we have arrived at the point in our business of making profits through more efficiency, more capital, stronger reputation and good will, and better management than our competitors?
Henry Timken
[In 1902] I am sure that we can… make the business a success… We’ll hang on like grim death and never say die. We’ve got grit, if we haven’t got sense of cents.
Henry Timken
Push it to a finish.
Henry Timken
Bonus
To work night and day during the entire year, is the sort of indication of prosperity that we appreciate.
William Robert Timken (W. R. Timken - Henry H Timken’s older brother)
[In 1909 on from the beginning resisting requests for special-order bearings.] Had we in the past ten years made everything that we had calls or orders for, we would probably be in bankruptcy today. -W. R. Timken (Henry H Timken’s brother)
William Robert Timken (W. R. Timken - Henry H Timken’s older brother)
[In 1910 to their British licensee on cash payments.] We are the shortest term house in the United States, the strictest collectors, and the most particular regarding the cash discount. We get 85% of our money within 15 days after goods are shipped. We never take a note, don’t know what it looks like, and turn down each and every order offered to us on longer than 30 days time. -W. R. Timken (Henry H Timken’s brother)
William Robert Timken (W. R. Timken - Henry H Timken’s older brother)
[In 1912 when he suffered a serious bout with tonsillitis and diphtheria. And had given up an active management role in 1915 but outlived his younger brother.] My physical condition… has considerable to do with my personal desire to sell out the business.
William Robert Timken (W. R. Timken - Henry H Timken’s older brother)
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