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In 1853, the factory building was completed and the company began doing business under the name "American Horologe Company." The name was changed to "Boston Watch Company" in September 1853, and the factory in Waltham, Massachusetts was built in October 1854. The Boston Watch Company failed in 1857 and was sold at auction to Royal E. It was reorganized as "Tracy, Baker & Co." and later that same year the name was again changed to "Appleton, Tracy & Co" and watches 5001 - 14,000 were produced. The factory was kept in operation through these years by cutting expenses to the lowest possible level... According to the biography by Carl Sandburg, Abraham Lincoln owned and carried a Waltham "Wm. The watch was an 11-jewel, 18 size, key-wind in a silver hunter case, and was produced in January of 1863.The movements produced here (serial numbers 1001 - 5000) were signed "Dennison, Howard,& Davis," "C. The first movements carried the Appleton, Tracy & Co. In 1885, the company became the "American Waltham Watch Company". In 1906 the company was renamed the "Waltham Watch Company".With financial backing from Samuel Curtis, of small-arms manufacturing fame, the watch production began in 1851, and the first small group of watches were finished in late 1852.The first watches produced went to officials of the company, and it was not until 1853 that the first watches were offered for sale to the public.
Problems were encountered with the new production methods.The company was exploring innovative new ideas in watch manufacturing, such as using jewels, making enamel dials, and producing plates with a high-level of finish which required extensive tooling and resulted in a great financial burden.