Holyoke High School - Annual Yearbook (Holyoke, MA)

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Company were also organized in 1853. In 1854, the capitalists decided to separate their enterprises, the Lyman Mills Company was organized to manage the two Hadley Falls mills and its tenements, the remainder, under the management of the Hadley Falls Company Mill No. 1, manufactured cotton sheeting, shirting, and drilling, while Mill No. 2 manu- factured lawns and prints. ln early 1857 the Prentiss Wire Mills started to operate a small mill owned by the Parsons Paper Company manufacturing re- fined wire of every description. Also, in early 1857, the Holyoke Paper Company was or- ganized to manufacture fine writing paper. In 1881, the company received a gold medal at Melbourne for bond and linen paper. During the panic of 1857, the merchants re- ceived a severe setback, the effects of which lasted for the next two years. The Hadley Falls Company became financially embarrassed and went bankrupt on February 29, 1859, and its property was put up for public auction. The Holyoke Water Power Company was in- corporated in June of 1859, the directors be- ing: Alfred Smith, James Goodwin, Boland Mather, and George Bartholemew, all of Hartford, plus John Chase of Chicopee, John Williston of Northampton, and John Turner of Boston. Unlike the Hadley Falls Company, which encouraged only cotton manufacturing, the Holyoke Water Power Company encour- aged any industry which could use water power to come to Holyoke. Thus Holyoke eventually became a paper city and not a cotton town as was originally planned. From 1865 to 1873, eight paper companies came to Holyoke. These were the Riverside Paper Company, the Mt. Tom Paper Company, Franklin Paper Company, Valley Paper Com- pany, the Crocker Paper Company, the Mas- sasoit Paper Company, Beebe and Holbrook Company and the Excelsior Paper Company. The total capitalization of these eight com- panies amounted to one million four hundred thousand dollars. Ultimately the town was to become the Paper City of the world. Certainly. very few manufacturing towns can show greater development of industry than Holyoke in the decade of the sixties. The National Blank Book Company was or- ganized in New York, in 1875, as the J. G. Shaw Company, but was changed in 1880 to its present name and moved to Holyoke in 1881. Papermaking in Holyoke became such a promising business that William Whiting, a clerk for the Holyoke Paper Company, organ- ized the Whiting Paper Company in association with L. O. Brown and E. F. Jenks, with a capital

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