Industrial Pioneer
In 1821, Borden established the Fall River Iron Works, along with Major Bradford Durfee, and several others at the lower part of the Quequechan River. Bradford Durfee was a shipwright, and Richard Borden was the owner of a grist mill. After an uncertain start, in which some early investors pulled out, the Fall River Iron Works was incorporated in 1825, with $200,000 in capital. The Iron Works began producing nails, bar stock, and other items such as bands for casks in the nearby New Bedford whaling industry. They soon gained a reputation for producing nails of high quality, and business flourished. By 1845, the company was valued at $960,000. In 1827, Borden began regular steamship service to Providence, Rhode Island.
The Iron Works would continue play an important role in the early development of the textile industry in Fall River. Richard Borden later constructed the Metacomet Mill in 1847, which today is the oldest remaining textile mill in the City, located on Anawan Street.
Read more about this topic: Richard Borden
Famous quotes containing the words industrial and/or pioneer:
“If you do not regard feminism with an uplifting sense of the gloriousness of woman’s industrial destiny, or in the way, in short, that it is prescribed, by the rules of the political publicist, that you should, that will be interpreted by your opponents as an attack on woman.”
—Wyndham Lewis (1882–1957)
“America is the civilization of people engaged in transforming themselves. In the past, the stars of the performance were the pioneer and the immigrant. Today, it is youth and the Black.”
—Harold Rosenberg (1906–1978)