In 1913, Eagle Rubber Company was founded in a little garage on Orange Street. A small number of workers produced thousands of balloons using improvised machinery. Harry Gill Sr. and Harry Polley incorporated the business on May 27, 1916.

A three-story structure of 18,000 square feet was built as the company expanded. The business gave rise to an industry that made Ashland, Ohio the world's balloon capital. Rubber play balls and sponge rubber balls were added to the manufacturing process by 1923. The company was sold to John Sweeney and Kenton R. Cravens in 1929. Later, Gill founded the National Latex Company.

The business had grown to three buildings totaling more than 60,000 square feet by 1940.