The Paramount banjo brand was established in 1921 by William L. Lange. By the 1930s banjos were declining in popularity compared to guitars and Paramount comissioned Martin to make some Paramount tenor guitars. These Paramount guitars had an unsual resonator with sound holes around the body but only around 30 were made.
The Paramount 1924 catalog gives an overview of the brand at the time:
Twenty-six years of banjo manufacturing sums up the experience which is embodied in the success of the Paramount Banjo. For one who has never visited the home of the Paramount Banjo it is difficult indeed to grasp the magnitude of this wonderful factory, from whose doors over 450,000 banjos have issued since the establishment of the business. Several thousand Paramounts alone were made in the first eighteen months of their introduction in 1921, proving superiority.
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