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Way back then in 1901, lightbulbs were a huge luxury. Before that, if there was an emergency at night, the firefighters would have to light a lantern in the dark just to be able to see. The installment of this light was of tremendous importance. During that time, light bulbs were still a pretty new concept but the quality was definitely there. The centennial light is a freak of nature. No one can really explain how it's been able to keep running 24/7.
It was manufactured by Shelby Electric who claimed to have the greatest lamp in the world and they quite obviously did. Their products were so good that they went out of business (kind of meant to be a joke). Their products were created to last which in turn would lower their profits tremendously.
This bulb has been running for over 1,000,000 hours. The incandescent bulb's lifespan is a meager 750 to 2,000 hours. A bit better than that are the LED bulbs with 50,000 hours, still incomparable to the centennial bulb.