After struggling with numerous unforeseen obstacles, these pioneers in a new industry failed financially; and their property was bought, in 1857, by Royal E. Robbins, for Appleton, Tracy & Co., the corporate name being subsequently changed to that of the American Waltham Pocket Watch Company of Waltham, Mass. The original stock capital of $200,000 has been increased to $1,500,000, with an equally large surplus. The number of hands has grown from 75 to 2,500. And in place of the small factory existing in 1857, there was built a much larger one, that in turn gave way to the immense structure now in use, and that has been wholly built since 1878.
...The factory at Waltham is located on an expansion of the Charles River, and is environed by parks maintained at the company's expense. The rooms are thoroughly ventilated, and all the sanitary arrangements are excellent. Consequently the operatives are a remarkably healthy, cleanly and bright set of people, mostly young persons, whose unimpaired eyesight and steady nerves qualify them for the delicate work before them. Intelligence and integrity are also required in a business involving the handling of quantities of precious metals and jewels.
[There's a reason that engineering and manufacturing found a bedrock in Massachusetts...]
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