Joshua Lionel Cohen (he later changed the spelling to Cowen) founded the Lionel Manufacturing Company in 1900 and first produced trains in 1901. The company’s name changed to the Lionel Corporation in 1918. Lionel entered receivership shortly after purchasing Ives in 1930, but recovered by 1939. After World War II, Lionel sales increased until 1952, after which the market began to turn bad. By 1955 Lionel was losing money and Cowen and his son sold their stock in 1959. Lionel changed hands several times during the years that followed. Though the original Lionel Corporation bankrupted around 1990, Lionel trains are still produced today by Lionel Trains Incorporated.
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