the Owens Bottle Machine, which it developed under similar circumstances
and later sold to The Owens Bottle Company. In the early spring of 1916,
after having spent well over $1,000,000, it was quite evident to those
in charge of the experiments that success would soon be assured.|
This happy conclusion was reached in May, 1916,
when The Libbey-Owens Sheet
Glass Company was formed and bought from The Toledo Glass Company all
of its patent rights, both domestic and foreign, covering the sheet
glass machine. One condition of this sale was the reward received
by Colburn for his years of effort in the development of the machine.
The Toledo Glass Company assigned to him a very liberal stock interest
in the new company, which enabled him to discharge the many obligations
assumed during the earlier years of his work, as well as to provide
liberally for his family.