Word: amoskeag
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...high-collar areas of Boston, Frederic C. Dumaine flaunted an open-shirt background, cussed a blue streak, and walked with a bearlike roll. But by many a shrewd and ruthless financial coup, he climbed to the top of Boston's moneyed oligarchy, bossed the Amoskeag textile mills, once the world's biggest. Last week, at 82, shaggy-browed, alert Frederic Dumaine was in the midst of the biggest coup of his career...
...Master's Voice. Dumaine had learned his financial footwork from a master: Boston's late Thomas Jefferson Coolidge,* who dominated railroads, banks, and the Amoskeag mills at Manchester...
Dumaine went to work for Coolidge at 14 as a $4-a-week office boy, and became his protégé. Sent to Amoskeag to work in the mill, Dumaine became boss, ran it for 30 years. When the mill, short of cash, collapsed in the depression, Dumaine was raked over at a congressional hearing for the way he had run the company. But Dumaine was already busy with another baby: the Waltham Watch Co. He had bought control in the 1920s when the company was run down, and made it tick. Until recent years, when he began cutting...
...Amoskeag mills at Manchester, New Hampshire, once the largest, textile unit in the world, formerly employed eight thousand men. Terribly hit by the depression and southern competition, the mills were just getting back on their feet when labor troubles set in. Now only fifteen hundred of those eight thousand are being employed, by Pacific Mills, and Lewis says he is out to help these fifteen hundred. If he really has the interest of the workers at heart, let him regard the deserted buildings of the once great. Amoskeag Company as a grim reminder of what can happen...
Incorporating last week as Amoskeag Industries, Inc. Manchester businessmen received from Public Service Co. of New Hampshire a subscription of $100,000, from New Hampshire Fire Insurance Co. another $100,000, from local banks and private commitments enough to enable them to hand over to the liquidating trustees in Boston a check for $500,000 as 10% payment on an agreed price of $5,000,000. In addition to its first $100,000, Public Service Co. of New Hampshire promised to pay Amoskeag Industries $2,250,000 for the hydro-electric power plant which had driven Amoskeag looms and spindles...