For the sum of one hundred dollars Buck agreed to study the problem, and, if possible, design for Locke a watch which would meet his requirements. Day and night, for many weeks, he labored at this task, and finally submitted a model. It was not satisfactory. Worn by his labors and disappointed by his failure, he fell ill. Some days later, Mrs. Buck sought out Locke and joyfully told him that her husband had worked out a new design which he believed would correct the defects of the former model and that, as soon as he recovered, he would begin work upon it. Within a few months he had completed a second model. This time he was successful. Then began the struggle of Locke and his associates to interest capital in the new enterprise. Most of the preliminary funds and factory space were provided by the Benedict & Burnham Manufacturing Company, a brass manufacturing concern at Waterbury, Connecticut, and the predecessor of the present Waterbury Clock Company. Thus the new watch came to be known as the _Waterbury_. Within the next twenty-eight months many thousands of dollars had been raised and expended before a single watch could be turned out for sale. It was not until 1880 that the Waterbury Watch Company was finally incorporated and ready for business. Then the factory proudly produced its first thousand watches. They were perfectly good-looking watches, but they had one important weakness—they would not run, because, as it was found, the sheets of brass used in stamping out the wheels had an unfortunate grain, and the wheels would not remain true. Another thousand were made with this defect corrected. This time most of the watches would keep time, but there still was a large percentage of "stoppers." After more study, experiment, and expense, the product was improved until only about ten per cent of the watches refused to run, and the Waterbury watch was really on the market. It was a wonderfully simple piece of mechanism, very different from the ordinary watch. The whole works turned round inside of the case once every hour, carrying the hour-hand with them. The mainspring was coiled round the outside of the movement, so that the case formed a barrel, and was wound by the stem. It had the old duplex escapement of the days of Tompion and the dial was printed on paper, covered with celluloid and glued to the plate. It had only fifty-eight parts, kept time surprisingly well, was not much to look at, but was sold at the then unheard-of low price of four dollars.