In 1864, Asa Horr, a Dubuque area Doctor, helped fund the placement of a town clock. George Wood and his wife gave a perpetual lease to the city for the clock to be placed on the John Bell and Company Store building which they owned. This first clock was placed on top of the store at a cost of $2,000. At the time, the clock was said to be one of the most accurate in the United States. It began operations in November of 1864, and everyone who donated more than $25.00 was given a membership in the Dubuque Town Clock Company, which owned the clock.On May 25, 1872, several people noticed cracks forming in the walls of the store building. Within a few minutes both the clock and the John Bell store collapsed, killing a child and two women who were inside the store at the time. An investigation into the matter reported that the foundation of the Bell Store was not sufficient to handle the clock's weight, which was nearly 3,500 pounds (1,600 kg). It was also reported that subsequent construction next door was the primary cause of the accident.