After several of the older, established trading houses went bankrupt during the 1820s, Peterson remained one of the large companies in the city.
[3] Momme Peterson was elected to the Norwegian Parliament in 1821, representing the constituency of Moss.
[4] Here, he marked himself as an opponent of King Charles XIV John,[2] who had several fruitless attempts to strengthen his control over the Norwegian Parliament.
[4] After his death, the company would expand into regular shipping, but later, under the leadership of Momme Peterson's grandson Theodor this was discontinued.
Instead, Theodor and another descendant Hans Blom Peterson successfully expanded into the pulp and paper industry.