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Yeoman & Company was founded by William F. Yeoman of Monticello, Iowa. The company's products were known as "YO-HO Tools" reflecting the Yeoman name and that of two local brothers named Hoag who had invested in the early business. Yeoman tools were designed and built to meet the needs of the agricultural and manufacturing industries of the upper Midwest. During World War II, Yeoman & Company was designated an essential industry and produced tools for Victory Gardens and snow tools to clear the decks of U.S. Navy aircraft carriers.

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