Information provided at WikipediA,http://en.wikipedia.org/wiki/Ingersoll_Watch_Company
Waterbury, CT based brass manufacturer Benedict & Burnham created Waterbury Clock Company as a clock-making subsidiary in the advent of brass gears being introduced to clock-making. Waterbury Clock Company was legally incorporated on March 27, 1857 as an independent business with $60,000 in capital. Sister company Waterbury Watch manufactured the first inexpensive mechanical pocket watch in 1880. During World War I, Waterbury began making wristwatches, which had only just become popular, and in 1933 it made history by creating the first Mickey Mouse clock under license from Walt Disney, with Mickey's hands pointing the time. This was made under the Ingersoll brand.
The Ingersoll Watch Company grew out of a mail order business (R H Ingersoll & Bro) started in New York City in 1882 by 21 year old Robert Hawley Ingersoll and his brother Charles Henry. The company initially sold low-cost items such as rubber stamps. The first watches were introduced into the catalogue in 1892, supplied by the Waterbury Clock Company.
In 1896 Ingersoll introduced the "Yankee" watch priced at $1.00. It was cheaply mass produced from stamped parts and without jewels so that it would be affordable to everyone. They were producing 8,000 per day by 1899, and started advertising that 10,000 dealers carried their "dollar watch." Over twenty years nearly forty million of these watches were sold, and Ingersoll coined the phrase "The watch that made the dollar famous!" Theodore Roosevelt mentioned that during his hunting trip in Africa he was described as "the man from the country where Ingersoll was produced."
Ingersoll Watch Company went bankrupt in 1921 during the recession that followed World War I. It was bought by Waterbury Clock in 1922 for $1,500,000. In 1944 Waterbury Clock Company was renamed United States Time Corporation (now Timex Group USA, Inc.) and continued producing Ingersoll watches through the 1950s.