living in Paterson whose father had workedin the Colt Paterson factory. Harold had been up to see this man
several times but never could find him at home. "You are especially interested in Colts," Harold said,
"Here's the address. Maybe you'll have better luck."
Paterson was on my route home, so
I
stopped in at the address given and was delighted to be greeted by an
elderly gentleman who assured me that he did have an old Colt pistol. He went upstairs and brought down a
big cardboard box. When he opened the lid I had a pleasant shock. There was the most beautiful Walker
Colt
I
had ever seen, along with the original nipple wrench and bullet mould! It seems that the pistol had
belonged to Aaron Pulhamus, this gentleman's father, who worked not only at the Paterson factory but also
at Whitneyville when Colt's Walker models were made there. Needless to say, I made haste to purchase the
pistol, later rewarding Harold Young generously for his unselfish lead.
Some of you may remember that I had the privilege to be the banquet speaker at the 1958 American Society
meeting in Dallas.
The theme of my talk at that time was "Are Antique Firearms a Good Investment."
Fortunately, my affirmative conclusions have since beenproven sound. Let me illustrate what has happened
in the specific case of the Pulhamus Walkerpistol which I have just mentioned. At a 1970 auction the nipple
wrench brought more than I paid for the entire outfit, and the bullet mould alone brought considerably more
than the price at which I sold the pistol and accessories to a prominent and very knowledgeable member of
this society, whose friendship I have treasured over the years.
Another illustration of the value trend
is
that of a beautiful cased Paterson pistol which I purchased in
Canada in the 1940s for $1500. I sold the pistol for $2000, bought it back for $3500, sold it again at a profit
and while I am not sure of the exact price paid by the present owner, a member of this society,
I
am confi-
dent it could not be purchased for ten times the price at which it was purchased in the 1940s.
Paterson Colts seem
to
have a way of turning up, creating hope, anxiety, and sometimes disappointments.
One of my most aggravating and drawn-out experiences in the pursuit of a Paterson Colt involved a fine
cased set in Germantown, Pennsylvania. The gentleman in residence there was a strange individual with a
pointed beard. He was patronizingly cordial in showing me the pistol where it gathered dust on the top of
an old bureau in his attic. For ten years thereafter, whenever I was in the area, I would inquire about the
pistol, always receiving an amused but polite turn-down. The thing that really raised my blood pressure
was that one Christmas this dog-in-the-manger character sent me a toy pistol!
But he who laughs last laughs best andone day when I telephoned, his wife answered.
I
explained the reason
for my call. "Whythat's mypistol," she exclaimed, "it was my father's." When I told her how much I would
pay for the pistol she said, "You come right over and get it." Victory here was sweet, indeed!
Probably the most amazing incident came early in my collecting experience. As
I
have mentioned previously,
I
placed some "Wanted" ads in the Rural New Yorker. One of these ads inquired for Colt pistols made at
Paterson, New Jersey. One day I received a very breezy letter from a man in Brooklyn who said that he
had seen my ad and owned such a pistol
-
and, Oh yes, the only number he could find on it was Number
1.
I had had my leg pulled a couple times by tempting tidbits, and was very suspicious. But one can't afford
to ignore such a letter, so I wrote and asked for more specific information
-
possibly a picture. No
answer.
Almost a year later I was in New York City for a few days on other business and
I
thought about that letter
from Brooklyn. Having a free afternoon, I decided to go over to Brooklyn and satisfy myself that this pistol
either existed or the letter had been a hoax.
Arriving at the address given, a modest brownstone flat, I was met by a middle-aged lady. She advised that
her husband was not home, butwhenIexplained the purpose of my visit she said, "Yes, he
has
an old pistol,
and I wish he would get it out of the house!" She consented to show me the pistol.
Holding it gingerly between two fingers she laid a fine belt-model Paterson Colt pistol on the table beside
me. With a rapidly increasing pulse
I
slipped out the wedge and removed the barrel. There it was
-
Serial
Number
1.
The other parts bore the same number. Trying to be nonchalant,
I
told her I would telephone
her husband when he returned that evening.
I thought the intervening hours would never pass, but finally the time came and I made the call. A gruff
voice answered the telephone. "Yes, I'll sell thepistol," the speaker told me, "but don't think you're gonna
steal it!"
I assured the gentleman that such a thought was farthest from my mind. "Well, I'll not take a cent less
than $35," he declared firmly. I hope my gasp was not audible at the other end. Speechless for a moment,
I
groped for something to say. Thinkingof nothing more relevant I recounted what a hard time
I
had experi-
enced in finding his home that afternoon.
"Where are you staying?" he inquired. I toldhim the name of the hotel. "How long will you be there?'' Well,
I would have been there a week if necessary, but I quickly assured him I would be in all evening.