Isaac

1887 · WRCAM55893 — Bridgewater Ma 1887. 364 i.e. 368pp. 91pp. blank. Broadside 11 1/4 x 4 3/4 inches laid in. Folio. Contemporary paneled reverse calf red morocco gilt labels on both boards and spine. Boards lightly worn front joint starting but still strong. Light tideline to outer margin throughout slight tanning. Overall very good. An impressive manuscript copy book documenting the rise and development of Bridgewater Iron Manufacturing Company of Massachusetts one of the largest iron works in the United States in the 19th century and a vital industrial partner during the Civil War under the direction of Nahum Stetson. These records chart the huge growth of the company as it purchased land and competing mills diversified its products building not only nails but large castings for military and commercial vessels and forming and utilizing railroads to quickly and efficiently expand their markets. <br> <br> Completed entirely in manuscript on hand- ruled paper this volume records the company's acts of incorporation minutes from stockholder and other important meetings directors' records by-laws and other important records relating to the growth of the company. The first page features a list of acts establishing and incorporating the company with relevant page numbers in the hand of Stetson: "An Act to Establish the Bridgewater Iron Manufacturing Company" 1825; "An Act to increase the Capitol Stock of the Bridgewater." 1846; "An Act to Amend an Act to Incorporate the Bridgewater." 1866; "An Act to Incorporate the Bridgewater & Taunton Rail Road Company" 1867; and additional acts. Among these are the general Massachusetts incorporation laws 1808-21 that required corporations to have a clerk keep a record book such as this one and that said clerk was designated an official justice of the peace who would record company stock votes and business decisions and maintain records of by-laws and changes to by-laws. <br> <br> Early entries include a vote in 1827 approving the company investigate the land below the existing furnace to potentially erect a new mill; examine Nippenicket Pond to improve water flow to the mills; and how with these improvements the company was able to pay dividends of $100 per share on the $16000 profits in 1830. In subsequent years minutes reference land purchases as they expand mill operations; and then adding a counting room next to the safe in 1835 after the death of Nathan Lazell Jr. along with notes about the company helping with funeral expenses for Lazell. Records show the company beginning to expand rapidly in hardware manufacturing in the 1840s thanks in large part to the Fall River Railroad reaching Bridgewater in 1845 and connecting to Boston the following year allowing the company much easier access to these markets. They greatly increased production of "American iron nails" in 1842; erected a "steam engine to drive our Rolling Mill when the water fails" in 1845; paid assessments on $16500 in stocks owned by the company in the "Fall River Middleboro Bridgewater & Randolph Rail Road Company" and incurred minor losses building a new rolling mill and rebuilding and expanding the forge in 1847. By the 1850s the company employed nearly 250 men working ten acres of manufacturing space supervised by legendary machinist James Ferguson. <br> <br> With the outbreak of the Civil War Bridgewater was on its way to becoming the largest iron works in the country. Specializing in heavy castings and forgings including key components for large ships they supplied the iron plate and fittings for the U.S.S. Monitor U.S.S. New Ironsides and all other iron-clad warships as well as the large forgings for every steamer for the Pacific Mail Steamship Company. The company's profits grew accordingly the ledgers reporting over $350000 in 1863 $450000 in 1864 and over $500000 in 1867. By 1868 the company had expanded to nearly 600 men and a manufacturing space of almost seventy acres. <br> <br> The "Directors' Records" start at the rear of the volume inverted. This portion is briefer and primarily discusses balloting for company officer elections dispersing and paying out shares in subsidiary operations such as the Providence Iron Company which Stetson purchased in 1854 and sales of land in Massachusetts and Rhode Island owned by the company and its subsidiaries including the Weymouth Iron Company. <br> <br> In 1694 David Perkins received permission from the colonial government of Massachusetts to construct a dam across the Town River and by 1707 Perkins had a working blacksmith shop at the site. In 1785 Nathan and Isaac Lazell built a slitting mill on the site to expand the blacksmithing operation. They added a second slitting mill in 1793. In time the company came to be known as Lazell Carey & Company and produced cannons during the War of 1812 and iron pots for the whaling industry along with cut nails and barrel hoops. In 1825 the company formally incorporated as the Bridgewater Iron Manufacturing Company but continued doing business as Lazell Perkins & Company for many years after. <br> <br> Nathan Lazell Jr. 1796-1835 was the first company clerk and many of the early records and acts copied into this volume are in his hand. Nahum Stetson 1807-1894 joined the company as a clerk in 1825 and was selected as treasurer effectively CEO when Lazell Jr. died in 1835. Stetson led the company for over half a century overseeing tremendous growth. In addition to acquiring Weymouth and Providence Iron companies Bridgewater also acquired Parker Iron Mills Wareham Massachusetts and helped form several railroads including the Fall River and Cape Cod railroads. In 1899 the site was purchased by the Stanley Works of New Britain Connecticut for the manufacture of machinery and tool production until 1928 when production shifted to New Britain. Between 1946 and 1988 part of the site was operated by the Bridgewater Foundry Company which produced grey iron castings. The property was donated to the Town of Bridgewater in 1994 by the Brousseau and Landner families the last owners of the foundry. Much of the site has been converted into Iron Works Park. <br> <br> The accompanying small broadsheet is caption titled LIST OF STOCKHOLDERS IN THE BRIDGEWATER IRON CO. and dated "May 1 1885." It has marginal annotations in Stetson's hand as well as a small slip of paper pasted to the bottom of the sheet with an additional seven shareholders added in manuscript. The total voting shares are 480 for a total capital value of $480000. <br> <br> A fascinating look into the development of industrialization in the Northeast through the eye of the company that led the charge. J. Leander Bishop A HISTORY OF AMERICAN MANUFACTURES FROM 1608 TO 1860. Vol. 3 Philadelphia: Edward Young & Co. 1868 pp.488-91. hardcover books