Philip Carey Manufacturing Co. - Specimen Stock Certificate

Specimen Stock printed by American Bank Note Company. Available in Orange or Blue. Please specify color. 

The Philip Carey Manufacturing Company, established in Ohio in 1888, played a significant role in the building materials industry, particularly in producing insulation and roofing products. Over the late 19th and early 20th centuries, the company expanded its product range and extensively used asbestos, a durable and heat-resistant mineral, in many of its products for nearly 80 years. This use of asbestos extended across its subsidiaries, including the Canadian-based Carey Canada, which operated its own asbestos mine to supply materials.

Throughout its existence, Philip Carey produced a diverse range of asbestos-containing materials, including pipe and block insulation for boilers, roofing felts, and shingles. These products were widely distributed in residential, commercial, and industrial settings.

However, the company’s legacy is defined by its extensive use of asbestos, which ultimately led to its downfall due to mass litigation related to asbestos-related diseases. The long-term health risks of asbestos, particularly life-threatening illnesses like mesothelioma, became a devastating reality for many workers and consumers exposed to Philip Carey’s products.

In the 1960s and 1970s, a complex series of mergers and acquisitions saw Philip Carey absorbed by larger companies, eventually falling under the corporate umbrella of Rapid-American Corporation. This put Rapid-American in a precarious position as it became the target of thousands of lawsuits. Following a division’s bankruptcy in 1990 and Rapid-American’s own bankruptcy in 2013, asbestos trust funds were established to compensate victims. However, not all claims have been fully settled, leaving a painful and ongoing legacy for those affected.