Crayola comes from the French words for chalk (craie) and oily (oleaginous) which were joined in1903 by Alice Stead Binney, wife of industrialist J.W. Binney. Binney's company was responsible for RED BARNS... how iconic is that? His company created the first red paint containing red oxide. Binney's boys had also invented a carbon stick which was used to mark barrels but it was toxic, they later came up with a product safe enough for children to eat, stick in their nose or mark any surface they could reach.
Pages from Child's commercial drawing and coloring book c. 1920 collection Jim Linderman