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The Boston Associates
The Boston Associates were a loosely linked group of investors in 19th-century New England. They included Nathan Appleton, Patrick Tracy Jackson, Abbott Lawrence, and Amos Lawrence. Often related directly or through marriage, they were based in Boston, Massachusetts. The term "Boston Associates" was coined by historian Vera Shlakmen in 1935. Investments By 1845, 31 textile companies—located in Massachusetts, New Hampshire, and southern Maine—produced one-fifth of all cotton and wool textiles in the United States. With the capital earned through these mills, they invested in railroads, especially the Boston and Lowell. These railroads helped transport the cotton from warehouses to factories. These Boston-based investors established banks—such as the Suffolk Bank—and invested in others. In time, they controlled 40% of banking capital in Boston, 40% of all insurance capital in Massachusetts, and 30% of Massachusetts' railroads. Tens of thousands of New Englanders receive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nathan Appleton
Nathan Appleton (October 6, 1779July 14, 1861) was an American merchant and politician and a member of " The Boston Associates". Early life Appleton was born in New Ipswich, New Hampshire, the son of Isaac Appleton (1731–1806) and his wife Mary Adams (1741–1827). Appleton's father was a church deacon, and Nathan was brought up in the "strictest form of Calvinistic Congregationalism". Appleton was also the cousin of William Appleton (1786–1862) and James Appleton (1785–1862). His paternal grandparents were Elizabeth Sawyer (1709–1785) and Isaac Appleton Jr. (1704–1794), the son of Isaac Appleton (1664–1747), who was the son of Major Samuel Appleton (1625-1696), and Priscilla Baker, granddaughter of Lt. Gov. Samuel Symonds. He was educated in the New Ipswich Academy. He then entered Dartmouth College in 1794, however, that same year he left college to begin mercantile life in Boston, Massachusetts, working for his brother Samuel (1766–1853), a successful and be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lawrence, Massachusetts
Lawrence is a city located in Essex County, Massachusetts, United States, on the Merrimack River. At the 2020 census, the city had a population of 89,143. Surrounding communities include Methuen to the north, Andover to the southwest, and North Andover to the east. Lawrence and Salem were the county seats of Essex County, until the Commonwealth abolished county government in 1999. Lawrence is part of the Merrimack Valley. Manufacturing products of the city include electronic equipment, textiles, footwear, paper products, computers, and foodstuffs. Lawrence was the residence of poet Robert Frost for his early school years; his essays and poems were first published in the Lawrence High School newspaper. Lawrence is also the Birth Place of singer Robert Goulet who was born Haverhill St. in 1933. History Indigenous history Native Americans lived along the Merrimack River for thousands of years prior to European colonization of the Americas. Evidence of farming at Den Rock ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of Boston
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. Howev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Management Companies Of The United States
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is to generate a return from the invested asset. The return may consist of a gain (profit) or a loss realized from the sale of a property or an investment, unrealized capital appreciation (or depreciation), or investment income such as dividends, interest, or rental income, or a combination of capital gain and income. The return may also include currency gains or losses due to changes in the foreign currency exchange rates. Investors generally expect higher returns from riskier investments. When a low-risk investment is made, the return is also generally low. Similarly, high risk comes with a chance of high losses. Investors, particularly novices, are often advised to diversify their portfolio. Diversification has the statistical effect o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Sobel
Robert Sobel (February 19, 1931 – June 2, 1999) was an American professor of history at Hofstra University and a well-known and prolific writer of business histories. Biography Sobel was born in the Bronx, in New York City, New York. He completed his B.S.S. (1951) and M.A. (1952) at City College of New York, and after serving in the U.S. Army, obtained a Ph.D. from New York University in 1957. He started teaching at Hofstra in 1956. Sobel eventually became Lawrence Stessin Distinguished Professor of Business History at Hofstra. After his death, the university established the ''Robert Sobel Endowed Scholarship for Excellence in Business History & Finance.'' Books Sobel's first business history, published in 1965, was ''The Big Board: A History of the New York Stock Market''. It was the first history of the stock market written in over a generation. The book was met with favorable reviews and solid sales, and Sobel's writing career was launched. Several of his subsequent boo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Moody (inventor)
Paul Moody (May 23, 1779 – July 5, 1831) was a U.S. textile machinery inventor born in Byfield, Massachusetts (Town of Newbury). He is often credited with developing and perfecting the first power loom in America, which launched the first successful integrated cotton mill at Waltham, Massachusetts in 1814, under the leadership of Francis Cabot Lowell and his associates. Early life Paul Moody was born May 24, 1779 at Byfield, Massachusetts, the son of Paul Moody and one of nine children. Although Moody's academic education was limited, at age sixteen he learned the weaver's craft, and soon became an expert. He later went to work at a nail factory of Jacob Perkins, first in Byfield and later in Amesbury, Massachusetts when the company moved. In 1812 he worked for Kendrick and Worthen, makers of carding machinery. On July 13, 1800 (one source says September 1798), he married Susan Morrill of Amesbury. The couple went on to have three sons. Soon after his marriage, he partnered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Israel Thorndike
Israel Thorndike (April 30, 1755 – May 9, 1832) was an American merchant, politician, industrialist, and slave trader. He made a fortune in privateering and the Old China Trade, was active in Federalist Party politics during the Thomas Jefferson and James Madison administrations, and later was one of the largest financiers of the early Industrial Revolution in the United States. Career Thorndike was born in Beverly, Massachusetts on April 30, 1755. He went to sea at an early age, and in 1772 formed a partnership with Moses Brown that would last over two decades. The partnership, called Brown & Thorndike, concentrated on trade in the Caribbean and in coastal carrying along the North American coast. Upon the outbreak of the American Revolution, he joined the Massachusetts Navy as an officer before turning to privateering. Partnering with a number of fellow merchants in Beverly and Salem, including George Cabot, he invested in numerous privateer ventures that brought him a small for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Francis Cabot Lowell (businessman)
Francis Cabot Lowell (April 7, 1775 – August 10, 1817) was an American businessman for whom the city of Lowell, Massachusetts, is named. He was instrumental in bringing the Industrial Revolution to the United States. Early life Francis Cabot Lowell was born in the city of Newburyport, Massachusetts. His father was John Lowell, member of the Continental Congress and judge for the United States District Court for the District of Massachusetts. His mother was Susanna Cabot. He had an aptitude for mathematics in his youth. In 1786, Lowell graduated from Phillips Academy. In 1793, he graduated from Harvard College. Career In July 1795, after graduation, Lowell set out on a merchant ship carrying cargo to various places including Basque Country in Spain and Bordeaux, France. He went to learn about shipping and being a merchant, but used the trip to learn about France. He spent a year touring France, gripped in revolution. In July 1796, he returned to Boston and set up as a merc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boston Brahmin
The Boston Brahmins or Boston elite are members of Boston's traditional upper class. They are often associated with Harvard University; Anglicanism; and traditional Anglo-American customs and clothing. Descendants of the earliest English colonists are typically considered to be the most representative of the Boston Brahmins. They are considered White Anglo-Saxon Protestants (WASPs). Etymology The doctor and writer Oliver Wendell Holmes, Sr. coined the term "Brahmin Caste of New England" in an 1860 story in ''The Atlantic Monthly''. The term ''Brahmin'' refers to the priestly caste within the four castes in the caste system in India, Hindu caste system. By extension, it was applied in the United States to the old wealthy New England families of British Protestant origin that became influential in the development of American institutions and culture. The influence of the old American gentry has been reduced in modern times, but some vestiges remain, primarily in the institutions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Clay
Henry Clay Sr. (April 12, 1777June 29, 1852) was an American attorney and statesman who represented Kentucky in both the U.S. Senate and House of Representatives. He was the seventh House speaker as well as the ninth secretary of state, also receiving electoral votes for president in the 1824, 1832, and 1844 presidential elections. He helped found both the National Republican Party and the Whig Party. For his role in defusing sectional crises, he earned the appellation of the "Great Compromiser" and was part of the "Great Triumvirate" of Congressmen, alongside fellow Whig Daniel Webster and John C. Calhoun. Clay was born in Hanover County, Virginia, in 1777, beginning his legal career in Lexington, Kentucky, in 1797. As a member of the Democratic-Republican Party, Clay won election to the Kentucky state legislature in 1803 and to the U.S. House of Representatives in 1810. He was chosen as Speaker of the House in early 1811 and, along with President James Madison, led ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boston Manufacturing Company
The Boston Manufacturing Company was a business that operated one of the first factories in America. It was organized in 1813 by Francis Cabot Lowell, a wealthy Boston merchant, in partnership with a group of investors later known as The Boston Associates, for the manufacture of cotton textiles. It built the first integrated spinning and weaving factory in the world at Waltham, Massachusetts, using water power. They used plans for a power loom that he smuggled out of England as well as trade secrets from the earlier horse-powered Beverly Cotton Manufactory, of Beverly, Massachusetts, of 1788. This was the largest factory in the U.S., with a workforce of about 300. It was a very efficient, highly profitable mill that, with the aid of the Tariff of 1816, competed effectively with British textiles at a time when many smaller operations were being forced out of business. While the Rhode Island System that followed was famously employed by Samuel Slater, the Boston Associates imp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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