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Stock certificate for 50 shares of the Patent Arms Manufacturing Company, Paterson, New Jersey, April 28, 1837. Issued to Ferris Pell, warrented by Thomas A. Emmet and Dudley Selden.

The Patent Arms Manufacturing Company, the first company started by Samuel Colt to produce his revolvers, was chartered in the state of New Jersey in March 1836. Headquartered in the manufacturing town of Paterson, with a sales office in the city of New York, the company was beset with problems from the outset. The unreliable nature of Colt’s early revolvers, a high selling price, and a stagnant economy all led to slow sales. When the United States Ordnance Department found Colt’s revolvers to be unsuitable for military service, the company was doomed to failure. The Patent Arms Manufacturing Company permanently closed in 1842. The best patron of the short-lived venture was the Republic of Texas.