Richard Borden was an American businessman from Massachusetts. He co-founded the Fall River Iron Works in 1821.
Background
Richard Borden was born on April 12, 1795, in Freetown, Massachussets, United States, the ninth child of Thomas and Mary (Hathaway) Borden. He was descended from the Quaker, Richard Borden, who settled at Pocasset (now Portsmouth), Rhode Island, in 1638.
Education
Richard's scholastic training was obtained during the winter terms of the district school, while strenuous work on his father's farm and in his father's grist - and sawmills contributed to the sturdy physique with which he was endowed.
Career
As manager, between the ages of eighteen and twenty-five, of his father's gristmill, Richard Borden was accustomed to sail down the river in the sloop Irene and Betsey and collect the grain to be milled. These voyages suggested to Richard Borden and a shipbuilder, Maj. Bradford Durfee, the possibility of enlarging the operations, and under their supervision several vessels were constructed for the river trade. The making of nails and other metal accessories for sloops resulted in the formation in 1821 of the Fall River Iron Works, destined to a leading place among Fall River industries. Its original capital was $18, 000; without a single outside dollar added to the original investment it had attained in 1845 a capitalization of $960, 000 with a plant valued at half a million. Richard Borden took an active part in the formation of this company, was appointed treasurer and agent, a position which he filled ably and satisfactorily up to the day of his final withdrawal from business, a period of over fifty years.
Borden's connection with cotton milling originated from his position in the Fall River Iron Works. The immense success of the enterprise led the company into schemes for the development of water power and cotton milling. In this way the iron works company became an owner in the Watuppe Reservoir Company, in the Troy Cotton and Woolen Manufactory, in the Fall River Manufactory, in the Annawan Mill built by it in 1825, in the American Print Works built by it in 1834, in the Metacomet Mill built in 1846, and in various transportation enterprises. In most of these concerns, which were pioneers in the cotton industry, Borden took a prominent part, as well as in others.
Not only was Borden a leading entrepreneur and magnate in the development of Fall River cotton, but to him must be given credit for breaking the geographical isolation of that city and achieving direct connections with Boston and New York. Borden's interest in transportation never died after his early experience, and we find the Fall River Iron Works under his inspiration inaugurating a regular line of steamers in 1827 between Fall River and Providence. In 1846 mainly through his personal efforts a railroad line from Fall River to Myricks was constructed to connect with the New Bedford & Taunton Railroad and thence by the Providence Railroad to Boston. Subsequently he built to South Braintree, striking the Old Colony Railroad at that point. He also projected the Cape Cod Railway Company, of which he was president, and which built from Middleborough down the Cape.
Simultaneously with the railroad enterprises Richard and his brother Jefferson organized (1847) a steamship line between Fall River and New York which was enormously successful from the start. In 1864 Borden planned a better rail connection with Boston and secured a charter for a railroad. The opposition, however, of the Old Colony Railroad, and Borden's advanced age led him to sell both his charter and the steamship company to that railroad.
Achievements
Religion
Richard Borden was a member of the Central Congregational Church.
Personality
Richard Borden was a man of strong physique, of handsome and commanding presence, and of generous disposition.
Connections
Richard Borden was married, on February 22, 1828, to Abbey Walker Durfee by whom he had seven children.