. . ctly with the company. Under management the business grewconstantly; a floor space of ten acres wasafforded by the mill buildings, and about1,200 operatives employed. In 1847 trievalue of the property was $150,000, whichhad been increased tenfold. In the mean-time the little village had grown to athriving town and it was incorporated bythe Legislature, April 19, 1871, as thetown of Maynard, named in honor of theone man whose foresight, energy and busi-ness ability had created the enterpriseupon which the existence of
. . ctly with the company. Under management the business grewconstantly; a floor space of ten acres wasafforded by the mill buildings, and about1,200 operatives employed. In 1847 trievalue of the property was $150,000, whichhad been increased tenfold. In the mean-time the little village had grown to athriving town and it was incorporated bythe Legislature, April 19, 1871, as thetown of Maynard, named in honor of theone man whose foresight, energy and busi-ness ability had created the enterpriseupon which the existence of the town de-pended. The new town had a populationof two thousand. More than twelve hun-dred were in line in the procession whenthe birth of the new corporation was for-mally celebrated April 27, 1871. Mr. May-nards son, Lorenzo, was elected the firsttown treasurer. The history of the business would re-quire a volume by itself. At the begin-ning Mr. Maynard had a capital of but$25,000, the savings of his years of earlyindustry, and he was without experience 346. Ct^t^KLjCcA^t^1 ENCYCLOPEDIA OF BIOGRAPHY in the manufacture of woolens. But heunderstood mills and machinery, and hewas a genius for getting business and indisposing of his products. His partnerretired in 1853, before the magnitude ofthe enterprise had been realized. shared in the general financialdifficulties before and at the beginning ofthe Civil War, but surmounted his trou-bles. The Assabet Manufacturing Com-pany was incorporated to operate hismills, May 23, 1861, J. A. Goddard, presi-dent, T. Quincy Brown, treasurer, andMr. Maynard agent and manager. Thedemand of the government for clothingand blankets for the soldiers in the CivilWar brought back prosperity to the millsat Maynard. New buildings were builtin 1861 and 1862. One important fac-tor in the development of the businesswas the building of the Fitchburg rail-road in 1849. Mr. Maynard was instru-mental in having the line of this railroadpass thro
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