Samuel Terry expanded a mortgage for your home to Terry Andrews that has been payable a decade from time, merely interest due yearly
Typically, Ansonia time clock Company didn’t have its root in Ansonia, the Connecticut city after which it was called, but some 35 kilometers northeast into the great clockmaking town of Bristol. In 1841, Theodore Terry, nephew of Eli Terry the guy that has begun the produce of inexpensive clocks in the 1st ten years with the 19th century, developed a partnership with one Franklin C. Andrews.
On August 13, 1841, Theodore Terry of Bristol and Franklin C. Andrews of brand new York bought two parcels of land, one observed “. as being the exact same soil my sawmill stood one other building that has been burned. ” from Theodore’s father, retired clockmaker Samuel Terry, for $3,. III a brief history of clockmaking released in the Bristol Herald in 1890 observed “. In 1841, the plant created by Samuel Terry nearby the rolling mill dam, was actually burnt while occupied by Ray Carpenter producing ‘OG’ situation and Terry Andrews making movements. Mr. Terry built-up the store once more and it also is filled by Theodore Terry and Franklin Andrews, underneath the providers identity of Terry Andrews.”
During the rest of this 1840’s the Terry Andrews companies prospered and 30xhour and 8xday spring-driven items happened to be put into the collection of 30-hour escort Cary weight-driven clocks. Following destruction on the Chauncey Jerome manufacturing plant in 1845 and Jerome’s subsequent elimination of the rest of his business to unique destination, Conn., Terry Andrews became the largest clock manufacturers in Bristol. In June of 1850, they reported $50,000 committed to money, happened to be employing 58 palms together with made about 25,000 clocks, appreciated at $75,000, in the last 12 months. One report on Bristol suppliers in 1850 mentioned Terry Andrews “are called as secure a firm as any around, pay well, you can rely on them all they request. . .”
But about that time Anson G. Phelps, a wealthy industrialist from New York who operated huge foundry procedures at Birmingham (today Derby), CT, persuaded Terry Andrews to go out of Bristol and become allies with his foundry functions.
By 1850, Terry Andrews ended up being annually making use of 58 a great deal of metal, so it is unsurprising that Theodore Terry got one of many Bristol clockmakers who were incorporators associated with Bristol Brass time clock Company in April, 1850 and subscribed for 266 part, an investment of $6
Terry Andrews paid up their mortgage to Samuel Terry on April 13, 1850 as well as on the next might 1lth offered half interest in their firm to Anson G. Phelps for $7,200 8 weeks later on Theodore Terry sold their entire interest in the Bristol steel time clock team, probably marking your “traitor” to their others people.
On 7,1850, Anson G. Phelps, Theodore Terry and Franklin C. Andrews formed a joint-stock agency referred to as “Ansonia time clock business” when it comes down to manufacture and deal of clocks, movements and related products. Some $100,000 capital was actually authorized with 4,000 percentage offered at $25 each. Phelps conducted controlling interest with 1,334 shares while Terry and Andrews held 1,333 every. Theodore Terry was picked President and his son Hubbell P. Terry turned into secretary. New place, Ansonia, had been a village when you look at the town of Derby, CT which Anson Phelps got called after themselves.
The firm sooner or later applied a two-story manufacturing plant for clock business which had been in use by January of 1851, though Phelps couldn’t offer the house or property towards the business and lease all of them the water legal rights until April 12th of that year. This land was actually observed to be regarding northwest comer of a large amount which additionally endured a stone factory owned by Phelps, that was used by the Jerome Manufacturing Company of New Haven.