Formed in the 1940s by John Pederson, inventor of the Pederson Device, and the Irwin family, Michigan furniture makers, Irwin-Pederson produced approximately 150,000 M1 carbines before the Ordnance Department canceled their contract, making the Irwin-Pederson the most scarce of the M1 Carbines. Blade front and two leaf rear sights, marked "IPN" and "RP" respectively, with an Underwood "2-43" dated barrel, Type I band, flat bolt, "IP-W" push button safety, milled guard and "IP-W" magazine catch. Smooth fancy walnut pistol grip stock, with a 2-rivet handguard, high wood forearm, "IR-IP" in the sling cutout and checkered buttplate.