The Osgood Company was a Marion, Ohio based manufacturer of heavy machinery, producing steam shovels, dragline excavators and cranes.
The assets of Charmichael's failed enterprise remained unused until Cheney and his financial backers acquired the rights to them and moved the machinery to Marion Ohio.
Arthur Edgar Cheney, Sales Manager for Marion Steam Shovel, left that company after a disagreement with its CEO, George W. King, over products designed specifically for smaller jobs.
King intended to take the company that he co-founded into the lucrative mining industry, while Cheney saw a need for machines that could operate in construction environments.
To capitalize on his idea to produce construction machinery, Cheney purchased the assets of the defunct Osgood Manufacturing Company of Albany, New York.