The National Watch Company in Chicago, Illinois,…

The National Watch Company in Chicago, Illinois, officially changes its name to the Elgin National Watch Company in 1874, as the Elgin name has come into common usage for their watches.

First incorporated in August 1864, the founders of the original company were Philo Carpenter, Howard Z. Culver, then-Chicago mayor, Benjamin W. Raymond, George M. Wheeler, Thomas S. Dickerson, Edward H. Williams and W. Robbins.

In September of the same year, the founders had visited the Waltham Watch Company in Waltham, Massachusetts, and had successfully convinced seven of Waltham's makers to come to work for their new company.

The growing young city of Elgin, Illinois, some 30 miles to the northwest of Chicago, had been chosen as the factory site.

Initially, as part of the deal, the city had been asked to donate thirty-fie acres (one hundred and forty-two thousand square meters) of land for construction of the factory.

A derelict farm had been selected for this; however, the owners had refused to sell the property unless the city purchased their entire seventy-one acres for $3,550 (roughly $50,000 in 2010).

Four Elgin businessmen had agreed to purchase the property and then donated the required thirty-five acres to the new watch company.

The company had been reorganized in April 1865 and the factory had been completed in 1866.

The first movement, delivered in 1867, was named the B.W. Raymond in honor of Benjamin W. Raymond.

The watch was an 18 size, full plate design.