Aaron Lufkin Dennison, the son of a Maine shoemaker, founded the company in 1849 along with Boston clock-maker Edward Howard, manufacturer David P. Davis, and financier Samuel Curtis. The group raised $20,000 in initial capital and incorporated as the American Horologe Company.
How many watches did the Waltham Watch Company produce in total?
The Waltham Watch Company produced roughly 40 million timepieces and precision instruments during its American operations from 1850 to 1957. Products included pocket watches, railroad chronometers, artillery time fuses, automobile speedometers, and blood pressure gauges.
What was the Waltham Watch Company's William Ellery watch?
The William Ellery was a pocket watch priced at $13 that became a fad among Union soldiers during the American Civil War. By the end of the war, it accounted for 45 percent of the company's total annual sales.
Why did the Waltham Watch Company go bankrupt in 1949?
The company declared bankruptcy in 1949 after the Reconstruction Finance Corporation denied the final $2 million installment of a promised $6 million loan. The factory in Waltham, Massachusetts was shuttered on the 3rd of February 1950, putting 1,200 workers out of jobs.
What caused the 1924 Waltham Watch Company strike?
The strike began on the 11th of August 1924 when 75 workers in the Finishing department walked out to protest a planned 10% wage cut. Management had announced reductions ranging from 10 to 40% across the workforce. Within three days, 2,000 of the company's 2,900 total employees had joined the walkout, the first company-wide stoppage in Waltham's history.
Where are the Waltham Watch Company archives held?
The Waltham Watch Company archive is held at Baker Library Special Collections at Harvard Business School. The collection comprises 52 archival boxes and 111 linear feet of material, covering primarily the years 1854 to 1929.