Although thousands of various old corn shellers are in existence, research suggests that only 25 of this particular model were ever built, and I've located only 2 others: #2 is privately owned and #23 is on display at Pioneer Village in Ontario, Canada.
Information is scarce, but apparently these large, heavy hand-cranked machines were made in the late 1800s by Treman, Waterman & Co. of Ithaca NY (see below) for nearby Cornell University as a special project for its Agriculture program. One of its emeritus faculty thinks the shellers were made for use by the Vegetable Crops Department in its hybrid corn research trials. (Its stenciled lettering can best be seen in the last photo).
Labeled #3, this unit is complete and in exceptional condition for its age. Solidly constructed and weighing in excess of 150 pounds, it is not easy to move and I am therefore offering local pickup only. However, any buyer is welcome to arrange for pickup and delivery at his/her own expense, which I'll facilitate on my end. Online resources such as Uship.com are very helpful in finding such transport.
Treman, Waterman & Co.
Three Treman brothers, Leonard (eldest), Lafayette (born 1821) and Elias (youngest) started a hardware store in Ithaca NY known initially as L & L Treman Hardware and finally Treman Brothers Hardware when Elias joined them. Lafayette was involved in many commercial interests -- President of Gas & Light Co and the Ithaca Water Works Co. -- but was primarily occupied as Director (1860) and then President of Tompkins County National Bank from 1873 until his death in 1900. One of Lafayette's 3 daughters, Jeanie Mead Treman, married John Sayles Waterman. Waterman was a 1877 Cornell University graduate, member of Theta Delta Chi fraternity and member of a crew that won an 1875 Varsity race at Saratoga Lake. He was engaged for some years in the manufacture of agriculture implements under the name of Treman, Waterman and Co. (thus, the Treman, Waterman and Co. corn sheller) and died in 1891. Waterman appears to have had a son who also attended Cornell and worked for the company. From Cornell's 1940 Alumni News, this is the son's obituary:
'85—WILLIAM HENRY WATERMAN, November 14, 1939. He had been with Treman, Waterman & Co., Ithaca, with P. & F. Corbin, New Britain, Conn., and hardware salesman with Belcher & Loomis Co., 89 Weybosset Street, Providence, R. I. Entered Arts Course in 1881 from Mowry and Goff English and Classical School in Providence; remained a year. Theta Delta Chi.