Word: amoskeag
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...where the America we know began," said Professor William Pierson of Williams College. "You could write the whole history of industrial architecture and technology of the 19th century right here." Professor Pierson was referring to one of the U.S.'s most imposing and historic industrial landmarks, the Amoskeag millyard, whose 139 red brick buildings line the banks of the Merrimack River for more than a mile in Manchester, N.H. This month the Amoskeag will begin to fall to the wrecker's ball. Ninety of the complex's buildings will be replaced with parking lots, and the moss...
...puts it more bluntly: "Monuments just don't pay." Davis insists that parking facilities are essential for the 80 businesses that today occupy space in the mill's buildings. He is backed up almost 100% by Manchesterites, who are still bitter about the abrupt liquidation of the Amoskeag Manufacturing Co. in 1936, which threw some 11,000 of the town's millhands out of work...
Died. Frederic C. Dumaine, 85, one of the sharpest of modern-day Yankee trader capitalists; of bronchial pneumonia; in Groton, Mass. At 14 he went to work for the giant Amoskeag cotton mills (for $4 a week); within a few years he was operating in the fishing business, shipbuilding, watchmaking, steamship lines, truckmaking, banking. His biggest coup came in 1948, when he quietly bought enough stock to control the $428 million New York, New Haven & Hartford Railroad (which had kicked him off its board of directors in 1947), before its management knew what was happening. In taking over, Citizen Dumaine...
Mills and Amoskeag Mills were partly built with Harvard money...
...management was new to him, Financier Dumaine went right to work. That meant, first of all, cutting costs to the bone. He had learned the technique-slash wages, cut the staff and sales force, eliminate such "frills" as advertising-in such earlier business ventures as New Hampshire's Amoskeag Manufacturing Co. and the Waltham Watch Co. Amoskeag closed down in 1936 and had to liquidate, but Dumaine came out all right: a holding company controlled by him and some associates had siphoned off about $18 million. After Dumaine sold out of Waltham, it went broke...