Joe Friend (Lester Friend's son) took over "Yankee Shop" from Lester about 1950 and operated it as "Friends Steam Models" in the 1950s and 60s until about 1972, at which time poor health was beginning to take its toll on Joe. In 1972, he sold the business to a new owner (not a member of the Friend Family) who operated it as "Friends Models" in Groveland MA throughout the 1970s. Its ads can be seen in back-issues of Live Steam Magazine of the era.
From the beginning, Friends Models was chronically.....in fact mortally......short on cash. Friends Models never sold enough castings to stay in business.
Only the owner's love for the hobby and the trains, and his hope that "business would get better next year", is what made the business last as long as it did.
But throughout the 1970s, "tomorrow" came and went, as did "next year". It never got better. So by 1979-1980, it was over. Friends Models ceased operations and canceled its advertising about 1979. The designs of the "Yankee Shop", of Lester Friend and Laverne Langworthy, were off the market for the 1st time since 1938.
Joe Friend, who had not been involved with "Friends Models" since 1972, passed away in 1989.
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In the newspaper clipping seen above, the Yankee Shop/Friends Models 3/4" scale 4-6-6-4 Challenger is shown at the New England Live Steamers track at Danvers, Massachusetts. In the lower part of the clipping, Joe Friend, owner of Friends Steam Models until 1972, is shown at the Danvers track.