With a capital of $400,000 the Bourne Mills were incorporated in June, 1881, the following-named being the stockholders: Jonathan Bourne, George A. Chace, Edmund Chase, Lloyd S. Earle, Danforth Horton, Charles M. Shove, Frank S. Stevens. With various fluctuations in the course of a number of years, the capital stock in September, 1903, was placed at $1,000,000, of which $400,000 was paid in by a special dividend.
Mills operated more than 43,000 spindles when first built, but in 1900, with the completion of the new weave shed, there are close to 92,000 spindles. A plan of profit-sharing with the employees was adopted by the corporation in 1889 (quite revolutionary at the time). At the company’s peak, seventeen million yards of cloth are produced annually, and 700 hands were employed. Operations were in Tiverton, Rhode Island and Fall River, Massachusetts.
The town of Bourne in Massachusetts was named after Jonathan Bourne, as well as one of the two bridges that connects the Massachusetts “mainland” with Cape Cod. Bourne’s son (Jonathan, Jr.) became a United States Senator representing the state of Oregon.Certificate:
Capital Stock, issued in the 1940’sPrinter: John A. Lowell Bank Note Company, Boston Dimensions:
8 1/4” (h) x 11 1/4” (w)State: MA-Massachusetts Subject Matter: Textiles and Related Vignette Topic(s): Distinguished Gentlemen Condition:
Vertical fold lines, punch hole and stamp cancels in signature areas and body, and some toning and edge faults from age.