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Ralstoy was founded by Dr. Felix Despecher in Nebraska. He was also a former major of the town of Ralston, Nebraska and established the brand name based on the town name. They used molds and dies obtained from Best Toy Co of Manhattan, Kansas and the Kansas Toy Co of Clifton, Kansas.

During WWII, they chnaged over to making wooden toys and then after the war ended began making deicast models.

In the 1970s, Ralstoy began specializing in promotional models for moving companies. Around this same time the company changed its name to Ralston Toy & Novelty Co.

Sourced references -

Encyclopedia of Small-Scale Diecast Motor Vehicle Manufacturers - Sahakangas, Foster & Weber (2006)
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