After taking a break during World War I to manufacture mortar fuses and carburetors for the war effort, the company regrouped in the 1920s to expand its line of reels, rods, and lures. The Hercules was the company’s "heavy-duty" reel; the nickel-plated Beetzel was designed to automatically release the line on a spool when the rod was cast. The Marhoff featured elegant black Bakelite detailing (it is a real catch for collectors of antique and vintage fishing reels) while the open architecture of the Shakespeare Hoosier appears downright primitive to contemporary eyes.

The 1920s also saw the introduction of the Bass-A-Lure, whose large, metal, lower lip caused the lure to dive enticingly when the line was retrieved by the angler. The Mermaid lures had white or red heads and shapely bodies, while the Swimming Mouse had glass eyes, a pair of treble hooks for legs, and a delicate, whipping tail.

For Shakespeare, the biggest event of the 1930s, other than the marvelous Jim Dandy, Sea Witch, and Barnacle Bill lures, was the invention of the Wondereel in 1939. This reel would go on to become one of the bestselling fishing products ever—not even World War II, when the company turned its attention to the manufacture of planes, tanks, and jeeps, could derail its popularity.

After the war, Shakespeare focused its attention on fishing tackle rather than lures. In 1947, William’s son Henry, who was now running his father’s company, introduced the first fiberglass fishing rod, blowing the competition out of the water. A push-button Wondercast spinning reel followed in the early 1950s, and by 1966 Shakespeare had purchased one of its biggest competitors, Pflueger.

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