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17-514: Oliver Chace began his career as a carpenter working for pioneer industrialist Samuel Slater in Pawtucket, Rhode Island . Later, he would become influential in organizing several new mills, including one at Fall River, Massachusetts in 1813. The first textile manufacturing company at Valley Falls was established in 1818. By 1839, Oliver Chace was a very successful figure in the rapidly developing textile industry. He acquired and reorganized

34-470: A low hip roof. It was constructed from field stone collected from the surrounding fields. The mill opened for business in March 1814. In 1821, the original mill was destroyed by fire. Some machinery was rescued however, and moved to a recently completed nearby building known as the "Little Mill". The main mill was rebuilt and opened in 1823. Oliver Chace remained agent of the mill until 1822, when he moved to

51-616: The Fall River Manufactory . It was located at what is now Troy Street between Pleasant and Bedford Streets. The company, originally known as the "Troy Manufacturing Company", was incorporated in March 1813 for $ 50,000. ( Fall River was known as "Troy" between 1804 and 1834). The company's first mill was built over the uppermost falls of the Quequechan River , on the site of a former saw mill. It measured 108 feet long by thirty-seven feet wide with four stories and

68-864: The Pocasset Manufacturing Company in 1821, also at Fall River . He later acquired and reorganized the Valley Falls Company in Valley Falls, Rhode Island , in 1839. The Valley Falls Company would eventually acquire the Albion Mills, Tar-Kiln Factory in Burrillville, Manville Mills in Rhode Island , and Moodus Cotton Factory in Connecticut . Chace's sons and nephews would also be involved in

85-752: The Puritan fleet with Governor John Winthrop . Chace and his family were Quakers (Society of Friends). As a young man, Chace worked as a carpenter for Samuel Slater , who established one of the first successful textile mills in the Americas at Pawtucket, Rhode Island , in 1793. In 1806, Chace eventually started his own textile mill in Swansea, Massachusetts , and then the Troy Cotton & Woolen Manufactory in 1813 in Fall River, Massachusetts , and

102-700: The City of Central Falls in 1895. The Valley Falls Company would eventually acquire the Albion Mills, Tar-Kiln Factory in Burrillville, Manville Mills in Rhode Island , and Moodus Cotton Factory in Connecticut . In 1929, the Valley Falls Company, and others would combine with the Berkshire Manufacturing Company of Adams, Massachusetts to become Berkshire Fine Spinning Associates . The Valley Falls mills were closed in 1930, and operations were moved elsewhere. The mills on

119-646: The Cumberland side were demolished in 1934 to avoid property taxes. The site remained vacant until 1991 when the Town of Cumberland and the Blackstone Valley National Heritage Corridor transformed the site into a historic park. Walkways, ramps and bridges meander along the steep slope and through the former mill site. Some of its foundations are still visible, as is the northern power canal trench. The 1855 brick mill on

136-470: The Troy Cotton & Woolen Manufactory contained a capacity of 52,544 spindles and 1,170 looms. It produced plain cotton weaves from print cloth yarns. The company operated until 1929. The mills were later occupied by various businesses, including garment industries. It was demolished in the 1960s as part of urban renewal and to make way for Interstate 195 . The site now contains a parking lot that

153-610: The Valley Falls mills, and eventually added two larger mills, one on each side of the river. His sons Samuel and Harvey would also be involved with expanding the company during this time. The north side of the Village of Valley Falls grew to be the center of town government for the Town of Cumberland which it was located in. The town hall is located there today. The southern part of the village of Valley Falls, originally part of Lincoln, Rhode Island , would eventually become part of

170-440: The mills, as well as the original brick mill tower. The gate house that directed water into the trench still stands by the dam. A similar structure once stood in the park on the Cumberland side of the falls, but is no longer standing. Parts of its foundation are still visible, as is the northern power canal. Oliver Chace Oliver Chace (August 24, 1769 – May 21, 1852) was an American 18th and 19th-century businessman. He

187-458: The newly formed Pocasset Manufacturing Company . Oliver's son Harvey Chace became the agent at the Troy, and remained until 1842. The mill was expanded in 1843 and again in 1853, when the old wooden portions were removed. In 1860, the rebuilt 1823 mill was removed and replaced with a large addition, 296 feet long by 70 feet wide and five stories high, stretching north to Bedford Street. By 1917,

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204-570: The southern, Central Falls side still remains, having been converted into senior housing in 1979; it is listed on the National Register of Historic Places . It ranks as one of the earliest mill conversion projects in New England . Although the older mill closer to the river has been significantly altered and a large addition was built east of the main mill, it is still possible to observe the original power trench which flows through

221-411: The textile business. Susanna Chace died on July 30, 1827. Oliver's second marriage was to Patience Robinson. They had no children. Troy Cotton %26 Woolen Manufactory The Troy Cotton & Woolen Manufactory was a textile manufacturing company located Fall River, Massachusetts . Founded in 1813 by Oliver Chace , it was the second textile mill to be built over the Quequechan River , after

238-449: The textile industry of Fall River, Massachusetts , and Valley Falls, Rhode Island , as well as other locations in the area. He was the father-in-law of Elizabeth Buffum Chace , a noted 19th-century activist in the anti-slavery, women's rights, and prison reform movements. Through her, he was the grandfather of the mathematician Arnold Buffum Chace and the author and activist Lillie Buffum Chace Wyman . Chace died on May 21, 1852, and

255-590: Was buried in the Old Quaker Burial Ground in Providence on Olive Street. In 1929, the Valley Falls Company, and others, would combine with the Berkshire Manufacturing Company of Adams, Massachusetts , to become Berkshire Fine Spinning Associates . In 1955, Berkshire Fine Spinning Associates would merge with Hathaway Manufacturing Company of New Bedford, Massachusetts , to become Berkshire Hathaway . Chace's descendant Malcolm Chace, Jr.

272-425: Was chairman of Berkshire Hathaway when investor Warren Buffett began buying stock in 1962. When Buffett took control of the company in 1965, Chace refused to sell his share and remained on the board of directors. Chace married Susanna Buffington on September 15, 1796. They had seven children together. Chace's two eldest sons, Harvey (born 1797) and Samuel Buffington (born 1800) would later follow their father into

289-462: Was the founder of several New England textile manufacturing companies in the early 19th century, including the Valley Falls Company , the original antecedent of Berkshire Hathaway , which as of 2019 is one of the largest and most valuable companies in the world. Chace was born on August 24, 1769, in Swansea, Massachusetts , to Jonathan Chace and Mary Earle, members of well known Yankee families in New England who had come from England in 1630 in

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