Valley Falls Company facts for kids
The Valley Falls Company was a textile company started in 1839 by Oliver Chace. It was located in Valley Falls, Rhode Island, a historic village with mills on both sides of the Blackstone River. This area is now part of Cumberland and Central Falls, Rhode Island. The Valley Falls Company is important because it was the very first company that eventually became Berkshire Hathaway. Today, Berkshire Hathaway is one of the biggest and most successful companies in the world!
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The Founder: Oliver Chace
Oliver Chace began his career as a carpenter. He worked for a famous industrialist named Samuel Slater in Pawtucket, Rhode Island. Slater was a pioneer in the textile industry. Later, Oliver Chace helped set up several new mills. One of these was in Fall River, Massachusetts, in 1813.
How the Valley Falls Company Grew
The first textile mill in Valley Falls opened in 1818. By 1839, Oliver Chace was very successful in the growing textile business. He bought the existing mills in Valley Falls and made them better. He also added two larger mills, one on each side of the river. His sons, Samuel and Harvey, helped expand the company during this time.
The northern part of Valley Falls village grew into the main center for the town of Cumberland. The town hall is still there today. The southern part of Valley Falls was originally in Lincoln, Rhode Island. In 1895, this area became part of the city of Central Falls.
Expanding the Business
The Valley Falls Company kept growing. It bought other mills, including the Albion Mills and the Manville Mills in Rhode Island. It also acquired the Moodus Cotton Factory in Connecticut.
In 1929, the Valley Falls Company and other businesses joined together. They combined with the Berkshire Manufacturing Company from Adams, Massachusetts. This new, bigger company was called Berkshire Fine Spinning Associates. The original Valley Falls mills closed in 1930. Their operations moved to other locations.
What Happened to the Old Mills?
The mills on the Cumberland side of the river were taken down in 1934. This was done to avoid paying property taxes on the empty buildings. The land stayed empty for many years.
In 1991, the town of Cumberland and the Blackstone Valley National Heritage Corridor worked together. They turned the old mill site into a historic park. Now, you can walk along paths, ramps, and bridges that wind through the area. You can still see some of the old foundations of the mills. You can also see the trench that used to carry water to power the northern mill.
The brick mill from 1855 on the southern side, in Central Falls, is still standing. It was turned into housing for seniors in 1979. This was one of the first times an old mill was changed into homes in New England. This building is even listed on the National Register of Historic Places.
Even though the mill has been changed a lot, you can still see parts of its history. The original trench that brought water to the mills is visible. The old brick mill tower is also still there. The gate house, which controlled the water flowing into the trench, still stands by the dam. A similar building used to be on the Cumberland side, but it is gone now.
