The brand seems to have originated with the Lange Banjo Company, but eventually it passed to Gretsch. Hard to say which outfit might have built a particular specimen.
See this (old) thread on the UMGF, inspired by a particular Paramount archtop:
https://umgf.com/paramount-supreme-archtop-t156087.html
And this from a Gretsch site:
http://gretschpages.com/forum/vintag...n/46882/page1/
One poster quoted this but did not cite the source:
"1921-1942 The William L. Lange Company began selling Paramount banjos, guitar banjos and mandolin banjos in the early 1920s, and added archtop guitars in '34. The guitars were made by Martin and possibly others. Lange went out of business by '42; Gretsch picked up the Paramount name and used it on acoustics and electrics for a time in the late '40s."