Monarch lathes were first made in 1909, when the company offered four different models. A reputation for fine-quality machine tools was quickly established and it is for this reason that the Monarch name is now so widely respected in engineering circles. The larger and more specialised Monarch machines are, of course, beyond the needs of the average model maker, but many enthusiasts covert the smaller Monarchs, especially the 10EE Precision Toolmaker's lathe and its derivatives. Introduced in 1939 the EE was Monarch's best-ever selling lathe and continued in production until the early 1990s. Because they were so well made these lathes have an extraordinary long life, and it is not unusual to find examples of machines made in the early 1950s still playing a part in the toolrooms of internationally famous companies. Additional information about the manufacturer can be found at the web site of the Shelby County Historical Society
Monarch operated until late into the 20th century with many units being re-conditioned and United Airlines taking delivery a new 10EE in August 2000 - showing that there is still a need, even in this computer-driven age, for a top-quality, hand-controlled precision toolroom lathe. The ATK Company, manufacturer of the Space Shuttle solid propellant boosters (RSRM) was still, in 2009, still using a Monarch Lathe manufactured on December 7th, 1941,  for machining flares and dissecting igniter cases. 
A thoroughly well-researched history of the Company, by an ex-development engineer and manager at Monarch can be downloaded here as a PDF

1966 Monarch Super precision 10" EC Chucking Lathe with infinitely variable speeds from 30 to 3,000 rpm The first one was sold in 1965 (SN-46637) and the last one sold in 1975 (SN-51301) It was capable of holding parts to an accuracy of 0.000030" and featured "Centre line drive"  with the carriage mounted on two round rails, fully enclosed, and powered by ball screw.