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The first Century was cut by Linn Boyd Benton working with T. L. De Vinne for Century magazine to replace the unsuitable face they had used previously. This was followed a few years later, at the turn of the century, by Century Expanded. It was Morris Fuller Benton, who made several other versions of Century, who also made several versions Schoolbook for ATF, starting in about 1919. The best known appeared in 1924. This face does the job it was meant to do very well. It is round, open, and sturdy, and although heavier in appearance than many other serif fonts, it comes near the top of the list of no-nonsense text fonts that will withstand a lot of punishment. Generations of children learned to read with this font.
These links will take you from the Microsoft web site to a Monotype web site. Monotype can provide many common Microsoft supplied fonts under license from Microsoft or under license from other font vendors.