Floyd Calderwood was a lumberman from Derry and a minor character in the horror novel, It. A former criminal, he had presumably served a few years at Derry's local prison for a string of minor crimes (most of them likely involving theft and robbery). While in jail, he made acquaintances with Tinker McCutcheon (his prison inmate).
Calderwood and McCutcheon would go on to work for William Mueller, a wealthy rail-owner who ran several lumbering agencies across Maine.
Both men were killed by Claude Heroux (another working lumberman who was possessed and under the influence of the demonic entity It) at the Sleepy Silver Dollar in early September of 1905. Calderwood died from excessive blood loss after having his arm brutally chopped off by the then crazed Heroux.