William Bates Price and Frank Walker Teeple began building pianos in Kankakee, IL in 1898. In 1902, they established the firm of 'Price & Teeple' and moved the company to Chicago. Price & Teeple built very high quality upright pianos, grand pianos and player pianos, and the firm quickly gained national recognition for their instruments. As the firm's success grew, several other brand names were added to the Price & Teeple line including pianos sold under the names of 'Schaeffer', 'Carleton', 'Rembrandt', and 'Collins'. Price & Teeple also sold a very successful line of player pianos under the brand names of 'The Harmonola' and 'The Symphonola'. Price & Teeple managed to survive the Great Depression independently of becoming absorbed by a larger conglomerate, but the firm was sold to The Story & Clark Piano Company in 1937. Story & Clark continued to build pianos (mostly console and spinet pianos) under the Price & Teeple brand name until 1965.