About this time, also, Chauncey and Lawson C. Ives, two highly respectable men, built a factory in Bristol for the purpose of making an eight day brass clock. This clock was invented by Joseph Ives, a brother of Chauncey, and sold for about twenty dollars. The manufacture of these was carried on very successfully for a few years by them, but in 1836, their business was closed up, they having made about one hundred thousand dollars. Soon after this, in 1837, came the great panic and break down of business which extended all over the country. Clock makers and almost every one else stopped business. I should mention that another company made the eight day brass clock previous to 1837, Erastus and Harvey Case and John Birge. Their clocks were retailed mostly in the southern market. They made perhaps four thousand a year. The Ives Co., made about two thousand, but both went out of business in 1837, and it was thought that clock making was about done with in Conn. The third chapter, as I have divided it, was now closing up. Wood clocks were good for time, but it was a slow job to properly make them, and difficult to procure wood just right for wheels and plates, and it took a whole year to season it. No factory had made over _Ten_ thousand in a year; they were always classed with wooden nutmegs and wooden cucumber seeds, and could not be introduced into other countries to any advantage. But this was not the only trouble; being on water long as they would have to be, would swell the wood of the wheels and ruin the clock. Here then we had the eight day brass clock costing about twenty dollars; the idea had always been that a brass clock must be an eight day, and all one day should be of wood, and the plan of a brass one day had never been thought of.