Description
The Pemberton Mill, built in 1853, was a five story building 280 feet long and 84 feet wide. Its chief engineer was Charles H. Bigelow and its construction was financed by John A. Lowell and his brother-in-law J. Pickering Putnam at a cost of $850,000, "a fortune for those times".
During a financial panic in 1857, Lowell and Putnam sold the mill to George Howe and David Nevins, Sr. for a $350,000 loss. The new owners jammed more machinery into their factory attempting to boost its profits. The mill ran with great success, earning $1,500,000 per year, and had 2,700 spindles and 700 looms in operation at the time of the disaster.
Read more about this topic: Pemberton Mill
Famous quotes containing the word description:
“It is possible—indeed possible even according to the old conception of logic—to give in advance a description of all ‘true’ logical propositions. Hence there can never be surprises in logic.”
—Ludwig Wittgenstein (1889–1951)
“He hath achieved a maid
That paragons description and wild fame;
One that excels the quirks of blazoning pens.”
—William Shakespeare (1564–1616)
“To give an accurate description of what has never occurred is not merely the proper occupation of the historian, but the inalienable privilege of any man of parts and culture.”
—Oscar Wilde (1854–1900)