Richard Borden signed Cape Cod Railroad - Stock Certificate
Inv# AG1233 Stock
Colonel Richard Borden (1795–1874) was an American businessman and civic leader from Fall River, Massachusetts. He co-founded the Fall River Iron Works in 1821, and later built several early cotton mills, as well as the Fall River Line, Fall River Gas Works Company, the Fall River Railroad, banks and other businesses. The Borden family would dominate the economic and civic life of Fall River into the early 20th century.
When the Town of Fall River was established in 1803, the Borden family had been well established in the area for over a century. In 1714, Colonel Richard's ancestor (also named Richard) purchased land along the falls of the Quequechan River from Benjamin Church, along with a saw mill, a grist mill and a fulling mill. Eventually the Borden family would acquire the water rights of the entire Quequechan River valley, and its tremendous potential.
Borden began working in a grist mill at age fifteen. Most of the area's corn was ground at his mill. He became adept in the task of sailing and boating in the Narragansett Bay, as part of the grist mill business. He also operated a saw mill adjacent to the grist mill during these years.
Borden acquired the rank of "colonel" in the local militia in 1828.
In 1828, Borden married Abby Walker Durfee. Together they had seven children; two daughters and five sons. Three of their sons would continue in their father's footsteps and become involved in the Fall River textile business; Thomas James Borden (1832–1902), Richard Baxter Borden (1834–1906) and Matthew Challoner Durfee Borden (1842–1912).
In 1821, Borden established the Fall River Iron Works, along with Major Bradford Durfee, and several others at the lower part of the Quequechan River. Bradford Durfee was a shipwright, and Richard Borden was the owner of a grist mill. After an uncertain start, in which some early investors pulled out, the Fall River Iron Works was incorporated in 1825, with $200,000 in capital. The Iron Works began producing nails, bar stock, and other items such as bands for casks in the nearby New Bedford whaling industry. They soon gained a reputation for producing nails of high quality, and business flourished. By 1845, the company was valued at $960,000. In 1827, Borden began regular steamship service to Providence, Rhode Island.
The Iron Works would continue play an important role in the early development of the textile industry in Fall River. Richard Borden later constructed the Metacomet Mill in 1847, which today is the oldest remaining textile mill in the City, located on Anawan Street.
Borden also established the first railroad line to serve Fall River, The Fall River Branch Railroad, was incorporated in 1844 and opened in 1845 to Myricks Junction, with a connection to Boston via Mansfield via the Taunton Branch Railroad. However, wanting a more direct route to Boston, Borden opened a new line in 1846 connecting with the Old Colony Railroad at South Braintree via Middleborough and Bridgewater. The Fall River Branch Railroad was merged with the Middleborough Railroad Corporation and the Randolph & Bridgewater Railroad Corporation to become the Fall River Railroad Company.
In 1847, regular steamship service to New York City began as the Bay State Steamboat Company, later known as the Fall River Line. It was America's most luxurious steamship line connecting rail travelers from Boston to Manhattan. It would operate until 1937.
Three of Richard Borden's sons would carry on their father's tradition in the family's businesses. In 1871, his eldest son, Colonel Thomas James Borden (1832–1902) would build the Richard Borden Mill, as a tribute to his father, and succeed his uncle Jefferson as agent of the Print Works, as well as numerous other concerns.
Richard Baxter Borden (1834–1906) would serve as either president, director and treasurer of several mills, banks and insurance companies.
Matthew C.D. Borden (1842–1912) would eventually take over the American Printing Company in 1887.
The Cape Cod Railroad (also currently referred to as the Cape Main Line) is a railroad in southeastern Massachusetts, running from Pilgrim Junction in Middleborough across the Cape Cod Canal Railroad Bridge, where it splits towards Hyannis in one direction and Falmouth in the other. It was incorporated in 1846 as the Cape Cod Branch Railroad to provide a rail link from the Fall River Railroad line in Middleborough to Cape Cod.
Among the proponents of the Cape Cod Branch Railroad were Col. Richard Borden of Fall River, who saw the new line as an opportunity to bring more traffic and business through his hometown. He was at one time president of the Bay State Steamboat Company, which together with the Old Colony Railroad formed the noted "Fall River Line". He was later elected president of the Cape Cod Railroad.
On January 26, 1848, the first 14.7-mile (23.7 km) segment of the railroad was opened between Middleborough and Wareham. By May 1848 an additional 12.9 miles (20.8 km) was opened to Sandwich, enabling unimpeded transit between Boston and Sandwich, thus serving the needs of the Boston & Sandwich Glass Company. In 1853, the extension of the line to Hyannis was started, reaching West Barnstable on December 22, 1853.
On February 22, 1854, the Cape Cod Branch Railroad was renamed the Cape Cod Railroad Company. In the spring of 1854, construction continued, with the railroad reaching Barnstable village May 8, Yarmouth Port May 19, and finally Hyannis on July 8, 1854. Connecting steamboat service to Nantucket commenced from Hyannis in late September and would continue until 1872.
In 1868, the Cape Cod Railroad acquired the Cape Cod Central Railroad (1861–68), which had opened a line from Yarmouth to Orleans in 1865.
In 1871, the Cape Cod Railroad bought the Plymouth and Vineyard Sound Railroad – which had been incorporated in 1861 as the Vineyard Sound Railroad Company intending to build a line from Buzzards Bay to Woods Hole. However, the road to Woods Hole was not completed until July 1872, after the merger with the Cape Cod Railroad. Upon completion of that road, the steamboat service to Nantucket moved to Woods Hole.
By this time, the Cape Cod Railroad had merged with the Old Colony and Newport Railway to form a new company, renamed the Old Colony Railroad. The Cape Cod routes became known as the "Cape Cod Division" of the Old Colony Railroad, with its headquarters in Hyannis.
With much fanfare, the Old Colony Railroad completed the line to Provincetown in July 1873. Old Colony Railroad maintained all rail operations on the Cape until their closure in 1893.
After Old Colony Railroad closed in 1893, the entire network was leased by New York, New Haven and Hartford Railroad, which took over operations on the Cape Cod Railroad. The NYNH&H ended daily passenger service to southeastern Massachusetts and the Cape in 1959. The railroad did, however, restore the popular seasonal rail service from New York City to Hyannis, with connections from Boston, during the 1960 through 1964 summer seasons.
The New Haven's passenger service to Cape Cod was operated under a number of different names, including and Day Cape Codder, the Night Cape Codder, the Neptune, the Islander, and the Flying Dude.
Following New York, New Haven and Hartford permanently terminating Cape operations in 1964, the Cape lacked any regular passenger rail service for almost twenty years. In 1984, the Cape Cod and Hyannis Railroad began providing seasonal service between Braintree and Hyannis, until their closure in 1988. In 1986, Amtrak began operating the Cape Codder during summer weekends from New York City to Hyannis, until it was terminated in 1996. The cancellation of the Cape Codder marked the end of non-heritage passenger rail between the Cape and the mainland for almost twenty more years.
From 1989 to 1999, Bay Colony Railroad operated seasonal heritage railroad excursions from Hyannis to Sagamore under the Cape Cod Railroad brand, until these services were taken over by Cape Cod Central Railroad in 1999. Bay Colony was also the sole operator of freight rail on the Cape from 1987 to 2007, until their contract expired and service was taken over by Massachusetts Coastal Railroad.
Throughout the 20th century, most of the railroad tracks on the outer Cape were removed, with many being replaced with rail trails. Today, the only railroad tracks on the Cape exist on the upper Cape. Shortly after crossing the Cape Cod Canal Railroad Bridge, the track splits in two directions, with one direction heading towards Falmouth and the other heading towards Hyannis. The Falmouth line is currently used mostly for freight services with very limited passenger service, while the Hyannis line is used for regular freight and passenger services.
The Cape Cod Central Railroad continues to operate seasonal tourist excursions, departing from Hyannis and Buzzards Bay and occasionally including stops at West Barnstable and Sandwich. A limited number of trains also depart from North Falmouth, which marks the only passenger service along the Falmouth spur of track.
Ever since the Old Colony Lines were restored for public service in the late 1990s, there have been several efforts made to extend commuter rail service from Middleborough/Lakeville station to Buzzards Bay. As of 2020, the MBTA is conducting a study to evaluate the feasibility of implementing such service in conjunction with the currently-underway South Coast Rail project. While regular commuter service has not yet been implemented, the seasonal passenger train CapeFLYER began operating from Boston to Hyannis in 2013, as a collaborative effort between Cape Cod Regional Transit Authority and Massachusetts Bay Transportation Authority. In addition to serving select stops along the regular commuter rail lines, the CapeFLYER also makes stops in Wareham, Buzzards Bay, Bourne, and Hyannis
In 2007, the contract for Cape freight rail was awarded to Massachusetts Coastal Railroad, which currently continues to manage all freight rail on the line today. The most common operation is the "energy train", which hauls refuse from the Upper Cape Regional Transfer Station in Falmouth and the Yarmouth-Barnstable Regional Transfer Station in Yarmouth, to the Southeastern Massachusetts Resource Recovery Facility, a waste-to-energy plant in Rochester. Other regular operations include interchanging with CSX in Middleborough and transporting material for the ongoing South Coast Rail project. Massachusetts Coastal Railroad is owned by the same parent company as Cape Cod Central Railroad.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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