1847 Samuel Colt's Cousin Roswell At Paterson NJ Society Useful Manuf. Document
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Sold Date: 02/09/2012
Channel: Online Auction
Category: Books, Paper & Magazines
This is a super nice old double sided framed historical document dated March 15, 1847. The first part of the document reads as follows: This Indenture made this fifteenth day of March in the year of our Lord one thousand eight hundred and forty seven between "THE SOCIETY FOR ESTABLISHING USEFUL MANUFACTURES". in the state of New Jersey of the one part , and George Carr etc.. etc... The document mentions the town of Paterson NJ and give boundries of a piece of property located on Ward Street Paterson NJ. I have done some research and evidently this was one of Americas first industrial areas. Samuel Colt built his first gun manufacture company "The Patent Arms Company" in Paterson NJ and Roswell (a very prominent business man) played a very important roll in assisting his younger cousin Samuel Colt. As you can see the document is signed and sealed by Roswell Colt. If anyone has any additional info I would be very appreciative to hear from you. Below is a brief summary of Samuel Colt and Roswell Colt relationship in regards to the Patent Arms Company. The frame measures approx. 21.5" x 17.5" and is double sided glass frame.When Sam Colt returned to America in 1832, he paid Boston and Baltimore gunsmiths to build a number of test revolvers using cap and nipple designs as the firing mechanism on the guns. To pay for the work, and to support himself, Sam Colt traveled about the eastern states giving demonstrations on the effects of newly discovered “laughing gas” (nitrous oxide). When inhaled, the strange gas caused people to laugh involuntarily, and if inhaled in quantity, made dentistry “painless”. Sam’s cousin ,(the Paterson Museum list Roswell as his uncle) Roswell Colt, helped him market his ideas by introducing him to investors in Paterson , New Jersey and New York City . They formed the Patent Arms Company with capital stock listed at $300,000. Sam Colt owned a single $1,000 share and was not an officer or director. The new corporation then hired him as one of their salesmen. He held a contract to sell the Patent Arms revolving weapons whatever he could, drew on a Patent Arms expense account and was also paid a commission on each weapon that he sold. Sam went off to England where, in early 1836, he obtained patent protection in England . Colt then returned to America to obtain patent protection there. The winning bidder will pay actual shipping which may be slightly more or less than the shipping qoute listed here.
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