The Taylor E-2 Cub first appeared in 1930, built by Taylor Aircraft in Bradford, Pennsylvania. Sponsored by William T. Piper, a Bradford industrialist and investor, the affordable E-2 was meant to encourage greater interest in aviation. Later in 1930, the company went bankrupt, with Piper buying the assets, but keeping founder C. Gilbert Taylor on as president. In 1936, an earlier Cub was altered by employee Walter Jamouneau to become the J-2 while Taylor was on sick leave. (The coincidence led some to believe that the "J" stood for Jamouneau, while aviation historian Peter Bowers concluded that the letter simply followed the E, F, G and H models, with the "I" omitted because it could be mistaken for the numeral one.). When he saw the redesign, Taylor was so incensed that he fired Jamouneau. Piper, however, had encouraged Jamouneau's changes and hired him back. Piper then bought Taylor's share in the company, paying him $250 per month for three years.