According to the patent filed in 1896 by the Novelty MFG, the material used to make the stove is polished sheet metal. Below is a description taken directly from that patent
The stove is made up of a round smooth base-ring A, supported on sheet-metal legs F of the design indicated. Resting on this base is the body portion B for containing the tank or reservoir of the stove. Above this is a polished sheet-metal rim B. Resting upon this rim B is a heating-drum C, which is supported on the polished rim at the bottom, which rests by suitable feet on the rim B. The top D is also formed of polished metal shaped in regular form, as indicated. The lower portion projects out beyond the sides of the drum and bears a central cover portion above. Suitable perforations are indicated in the top for the passage of the heat. These perforations are not material to the design and might be made through the sides of the top of the heating-drum C, instead of through other portions of the top. without varying my design. Around the drum are suitable ornamental bands b, and a similar band appears around the body portion. A window-frame E, of bright metal, carrying the usual mica sheets, is placed in the side of the heating-drum, as indicated.
Here is the link to the entire patent http://www.google.com/patents/USD25813
I have also included a picture from an auction website that claims that their Majestic 12 is all orginal and it should be able to provide some insight on the color scheme. I hope this helps and I will continue looking for anymore information I can find.