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Clinton Company. Erastus Bigelow was an employee of the Lowell Manufacturing Company. He formed the Clinton Company with his brother, Horatio after developing a new loom design. They incorporated in 1838 with a plan to produce coachlace, which was an ornamental cloth bordering. They were able to produce the cloth for just 3 cents/yard, significantly less than existing manufactures whose costs where 22 cents/yard. Needless to say, business was very good and operations grew quickly. The company was located in what was then Lancaster and named after the Dewitt Clinton Hotel in New York City. As the area of Lancaster that contained the Mill grew, it became known as Clintonville. In 1850, it broke off from Lancaster to become the town of Clinton. The success of the company allowed the brothers to start and otherwise participate in many other businesses, including the Lancaster Mills, and the "Bigelow Carpet Company". They had a significant impact in the textile and carpet industries and the region as a whole.
Stock. Issued in 1863. #338.
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