Samuel Hough's research with the Martel costing books reveals that this pitcher was completed on November 9, 1897. It required ninety-six hours to fashion and seventy-five hours to chase. The direct silver and labor costs totaled $163.25. The net factory price of $320 was set by Gorham president, Edward Holbrook.
Two Martel pitchers were assigned the 8623 code, presumably a duplication. The first pitcher weighed 124 troy ounces. The second, weighing a 126oz. 10 dwt., is almost certainly the present example.