The characteristics of the two other members of the firm, Clarence W. Seamans and Henry H. Benedict, have already revealed themselves in this story. Seamans, like Yost, was a wonderful salesman. Better still, he was a natural leader, with a gift for the successful handling of marketing problems which proved of incalculable value in establishing the business on a successful basis. Mr. Benedict likewise possessed marketing abilities of a high order, which he later demonstrated by his important work in organizing the typewriter business in Europe, where the difficulties encountered were even greater than in the American field. He possessed a habit of thoroughness, combined with a foresight and soundness of business judgment which, time and again, were of vital service to the firm. Taken all in all, these three men represented a combination of qualities not often found in a business partnership.
The new firm possessed unbounded energy and enthusiasm but its material resources were limited. Many discouragements were encountered, but they overcame them all and the business increased steadily. The firm started in a very limited fashion, occupying a corner of the Remington concern’s office at 281 Broadway, New York, the staff consisting of a few clerks with two or three mechanics, perhaps numbering ten persons in all. In 1884 the firm moved to its own offices at 339 Broadway.
In the winter of 1885–1886, while the business was in the full tide of success, a disquieting rumor reached the three partners that the Remingtons were planning to sell their interest in the typewriter. It had been known for years that the old house, owing mainly to wasteful factory management, had been sinking deeper and deeper into debt, and now it seemed that the crisis had come. Here was a situation which imperiled the future of the whole enterprise, but a difficulty is often a disguised opportunity, and so it proved to be in this case.
Henry H. Benedict immediately took the train to Ilion and his interview with Philo Remington in March, 1886, which resulted in the transfer of the ownership of the typewriter, is another one of the big moments in this story. Here is the account of what happened, as told by Mr. Benedict himself.
“I arrived in the morning and spent the fore-noon with Mr. Philo Remington. I began by asking him if the rumor was true that they were thinking of disposing of their typewriter interests. He said it was true. I said, ‘But why do you do this?’ He replied, ‘We need money.’ I said, ‘May I ask for what purpose?’ He replied, ‘To pay our debts.’ ‘But,’ I said, ‘you could not expect to get for the typewriter enough to pay a tenth of your debts.’ ‘Well, perhaps not,’ he said, ‘but it would satisfy the more pressing of our creditors.’
“ ‘Mr. Remington,’ I said, ‘I was with you for thirteen years, and served you to the best of my ability, and I was absolutely loyal to you. I am going to be loyal now. My advice to you is not to sell your typewriter. The amount of money you would get would not go far; ninety per cent of your creditors would still be unpaid, and they will be after you more savagely if you pay the claims of others and leave theirs unsatisfied.’
“He shook his head and said, ‘Well, we think we had better sell.’ ‘Is that your final decision?’ I asked. He answered, ‘Yes, I think so.’ I said, ‘Have you a customer for your plant?’ ‘Well,’ he said, ‘there are some people talking about taking it.’ ‘Have you committed yourself to them?’ I asked. He replied, ‘No, not absolutely.’ ‘You’re determined to sell, are you?’ ‘Yes!’
“ ‘Very well,’ I said. ‘I have given my advice. Now I want to buy the plant.’
“Then we began to talk business, and before night I telegraphed to New York to send me a certified check for ten thousand dollars to bind the bargain.”
Thus it was that the entire plant used in the manufacture of the machine, together with all patent rights, franchises, etc., necessary to a complete control of the business were purchased by Wyckoff, Seamans & Benedict. The manufacturing plant was established in the building formerly occupied by the Agricultural Works, and W. K. Jenne was installed as mechanical superintendent. The typewriter enterprise since that day has been entirely separate and distinct from the other activities with which the name Remington is associated, and thus it escaped the disasters which shortly after befell the old and honored house of E. Remington & Sons.