File:New Bedford, Massachusetts - its history, industries, institutions, and attractions (1889) (14596870620).jpg

Identifier: newbedfordmassac00peas (find matches)
Title: New Bedford, Massachusetts : its history, industries, institutions, and attractions
Year: 1889 (1880s)
Authors: Pease, Zeph. W. (Zephaniah Walter), b. 1861 New Bedford Board of Trade Hough, George A Sayer, William L. (William Lawton), 1848-1914
Subjects: Industries -- Massachusetts New Bedford New Bedford (Mass.) -- History
Publisher: (New Bedford, Mass.) : Published by order of the Board of Trade
Contributing Library: University of California Libraries
Digitizing Sponsor: MSN

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n of a mill was commenced in the following May. This millis two hundred twenty-six by fifty-two feet in area and four storieshigh. The mill started with eleven thousand spindles and the firstyarn was shipped in January, 1884. Since that time additions havebeen made, so that the mill now has twelve thousand mule and eightthousand frame spindles, and two thousand nine hundred eightytwister spindles. John M. Conway & Co., the oldest established yarnhouse in New York City, were the agents of the corporation and tookthe entire product. From the outset every effort was made to manufacture the bestyarn in the market and improved machinery was constantly added inorder to produce an article which would give satisfaction to the trade.Byron F. Card, who had acquired a large knowledge of yarns, wasengaged as superintendent, and to his knowledge of the details of themanufacture the reputation of the companys yarns in the market isdue, in a measure. Soon after the industry was fairly under way,
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INDUSTRIAL AND FINANCIAL. l6l John H. Hines, another experienced man, was employed to takecharge of the spinning, spooling, reeling, twisting, and warpingdepartments. The sales of the first year aggregated over $90,000 in value, theearnings being about 10 per cent, of this sum. This showing wasvery gratifying to the stockholders and encouraged them to perseverein the enterprise. No dividend was declared, but the facilities wereimproved and the twisting equipments increased. At the end of two years the capital was increased to $150,000,by issuing $25,000 in certificates, representing the earnings of thecorporation during this period. For the year following the earningscontinued satisfactory, and dividends amounting to eight per cent,were paid. During the next year plans were made for doubling the capacityof the mill. Real estate immediately south of the original purchasewas secured, and the corporation thus acquired the land v/ithin thesquare bounded by Hillmaii, North Second, North, a

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