Although Mark Honeywell’s Heating Specialty Company was not established until 1906, today’s Honeywell traces its roots back to 1885 when the Swiss-born Albert Butz invented the damper-flapper, a thermostat for coal furnaces, to automatically regulate heating systems. The following year he founded the Butz Thermo-Electric Regulator Company. In 1888, after a falling out with his investors, Butz left the company and transferred the patents to the legal firm Paul, Sanford, and Merwin, who renamed the company the Consolidated Temperature Controlling Company. As the years passed, CTCC struggled with growing debts, and they underwent several name changes in an attempt to keep the business afloat. After the company was renamed to the Electric Heat Regulator Company in 1893, W. R. Sweatt, a stockholder in the company, was sold "an extensive list of patents" and named secretary-treasurer. :22 On February 23, 1898, he bought out the remaining shares of the company from the other stockholders.