Neafie & Levy [SEP] industry
Neafie &amp; Levy
Neafie, Levy & Co., commonly known as Neafie & Levy, was a Philadelphia shipbuilding and engineering firm that existed from the middle of the 19th to the beginning of the 20th century. Described as America's "first specialist marine engineers", Neafie & Levy was probably the first company in the United States to combine the building of iron ships with the manufacture of steam engines to power them. The company was also the largest supplier of screw propellers to other North American shipbuilding firms in its
it employed 2,300 workers compared to Neafie & Levy's 500, and its output was more than 2½ times greater. A substantial part of the difference was due to the Cramp dry dock.
Conservatism, 1870–1880s 1870s slump and 1880s recovery.
1873 marked another prolonged downturn in the industry, triggered by the 1873 financial panic. All American shipyards struggled, and the nadir for Neafie & Levy came in 1877, when not a single ship was launched. To keep their businesses solvent, shipyards at this time diversified into other areas