Judged by the number of failures which have marked the development of the American watch industry, watch manufacturing might well be characterized as a perilous business. While it has proved profitable for a few, it also has swallowed many fortunes.
There were no watch companies in America until 1850, although a few attempts were made to manufacture watches in the United States prior to that time—by Luther Goddard, who established the first American watch factory at Shrewsbury, Massachusetts, in 1809 and made several hundred watches from 1809 to 1815, when he finally abandoned the business; by Henry and James F. Pitkin at East Hartford, Connecticut, from 1838 to about 1845 and by Jacob D. Custer at Norristown, Pennsylvania, from 1840 to 1845.
Except for a few companies whose organization and speedy dissolution had small, if any, effect upon the industry as a whole, the following briefly outlines the history of American watch manufacturing companies from the real beginning in 1850 to the present day:
1850
The American Horologe Company of Roxbury, Massachusetts, organized; name changed same year to The Warren Manufacturing Company; in 1853 name was again changed to The Boston Watch Company, the principal stockholders of which organized The Waltham Improvement Company to buy land and buildings for The Boston Watch Company at Waltham, Massachusetts; moved into the new factory at Waltham in 1854; failed in 1857 and company's business was bought in by Royal E. Robbins, watch importer of New York City and Tracy & Baker, watch case manufacturers of Philadelphia; in 1858 The Waltham Improvement Company increased its capital and purchased the business and property of The Boston Watch Company and re-incorporated under the name of The American Watch Company; in 1885 the name was changed to The American Waltham Watch Company and in 1906 the name was again changed to The Waltham Watch Company, its present name; in 1913 the Company purchased the business of the Waltham Clock Company.
1857
E. Howard & Company of Roxbury, Massachusetts, was organized by Edward Howard; in 1861 the name was changed to The Howard Clock & Watch Company; in 1863 the company practically failed and was reorganized under the name of The E. Howard Watch & Clock Company; in 1881 the Company again practically failed and was again reorganized under the name of The E. Howard Watch & Clock Company, with Edward Howard as President, as he had been in the preceding organizations; in 1882 Howard withdrew as President and severed his connection with the Company. From that time forward the Company gave increasingly greater attention to the manufacture of clocks, although it continued to manufacture the Howard watch until about 1903 when it entered into a contract with The Keystone Watch Case Company of Philadelphia, under which The E. Howard Watch & Clock Company transferred to The Keystone Company all rights to the use of the name "E. Howard" in connection with the manufacture of watches and also changed its own corporate name to The E. Howard Clock Company. Later the company failed and was operated by receivers until 1910 when a new company of the same name was organized and purchased the property of the old concern. The Keystone Company purchased the factory of The United States Watch Company at Waltham, Massachusetts, and began the manufacture of watches under the name of The Howard Watch Company.
1859
The Nashua Watch Company of Nashua, New Hampshire, was organized; it failed in 1862 and was bought in by the American Watch Company—now The Waltham Watch Company.
1863