In 1854,
partners Horace Smith and Daniel B. Wesson joined with Courtlandt Palmer, the
businessman who had purchased the Jennings and Smith-Jennings patent
rights, and further improved on the operating mechanism, developing the
Smith & Wesson Lever pistol, and a new Volcanic cartridge.
Production was in the shop of Horace Smith in Norwich, CT. The new
cartridge improved upon the Hunt Rocket Ball with the addition of a
primer. Originally using the name "Smith & Wesson Company", the name
was changed to "Volcanic Repeating Arms Company" in 1855, with the
addition of new investors, one of which was Oliver Winchester. The Volcanic Repeating Arms Company
obtained all rights for the Volcanic designs (both rifle and pistol
versions were in production by this time) as well as the ammunition,
from the Smith and Wesson Company. Wesson remained as plant manager for 8
months before rejoining Smith to found the "Smith & Wesson Revolver
Company" upon obtaining the licensing of the Rollin White "rear loading
cylinder patent. Winchester forced the insolvency of the Volcanic Arms
Company in late 1856, took over ownership and moved the plant to New
Haven, CT., where it was reorganized as the New Haven Arms Company in
April 1857. B. Tyler Henry was hired as plant superintendent when
Robbins & Lawrence suffered financial difficulties and Henry left
their employ. While continuing to make the Volcanic rifle and pistol,
Henry began to experiment with the new rimfire ammunition, and modified the Volcanic
lever action design to use it. The result was the Henry
rifle. By 1866, the company once again reorganized, this time as
the Winchester Repeating Arms company, and the name of Winchester became
synonymous with lever action rifles.^[2][3][4]