In 1902, Hopkins & Allen acquired Forehand & Wadsworth. Rebuilding in 1901 took a toll on the company's financial recovery. Hopkins & Allen recovered from its bankruptcy, but a fire two years later destroyed its manufacturing and storage facilities. In 1898, the Hopkins & Allen Arms Company filed for bankruptcy as well. This move was a devastating blow to Hopkins & Allen because it was the sole producer of Merwin & Hulbert revolvers. In 1896, Merwin & Hulbert filed for bankruptcy. However, hard times fell on Hopkins & Allen soon before the twentieth century.

It also made various tools and machine parts. Throughout the 1870s and 1880s, Hopkins & Allen produced a variety of revolvers, derringer-style revolvers, shotguns, and target rifles. At the time, the firm was the largest employer in Norwich, and business remained robust until 1896. In 1876, the Hopkins & Allen Arms Company purchased a larger manufacturing facility, growing its workforce to 500 people. After the Rollin White patent for bored-through cylinders expired, the arms manufacturer modified its percussion revolvers to accept metallic rimfire cartridges.

The Hopkins & Allen Arms Company began producing Merwin & Hulbert percussion revolvers with thirty employees. The Hopkins brothers managed the firm's daily operations. The Hopkins & Allen Arms Company was founded by Charles W. Hopkins & Allen Arms Company was formed shortly after the Civil War, but its founders were already familiar with manufacturing fine American guns. Most of the guns issued to Union soldiers came from Connecticut during the American Civil War, Norwich in particular. The state of Connecticut carries a rich history of manufacturing firearms.

Hopkins and allen shotguns