In that year he was chosen treasurer of the Jackson Manufacturing
Company, at Nashua, N. H., and began business as a manufacturer. Without
experience, and yet with a mind which study had disciplined and
knowledge of the world had made keen, with remarkable energy and
enterprise, he was eminently successful, and the Jackson company paid
large and sure dividends for the eleven years he continued its
treasurer. In 1837 he became the treasurer of the Amoskeag Manufacturing
Company, an office which included at that time, when the plan of
creating a city upon the Merrimack was just to be carried out, the
responsibility and wisdom of a general manager of the company's
interests, as well as the usual financial duties of a treasurer. He held
that office from then till October, 1876; was treasurer of the Stark
Mills, with the exception of four years and a half, from its
organization, in 1839, to 1876; was a director of the Manchester Mills,
and its successor, the Manchester Print-Works, from the start, in 1839,
till 1871; and has been a director of the Langdon Mills from its
beginning, in 1860, and its president from 1874 to 1876. When Mr. Amory
tendered his resignation as treasurer of the Amoskeag company, the
following complimentary resolutions were unanimously adopted by the
stockholders:--
"_Resolved_, That the stockholders of this corporation have
heard with regret of the resignation of their treasurer, William
Amory, Esq.
"That a continuous service of thirty-nine years demands from
them an expression of their appreciation of his eminent success,
not only in building up an unequaled and remunerative
manufacturing establishment, but in founding the largest and one
of the finest cities in the state.
"For both these results they tender to him their hearty thanks,
and desire to place this testimonial upon the records of the
company."
In seconding the motion to adopt the above resolutions, T. Jefferson
Coolidge, Esq., spoke as follows:--
"The best witness to the services of Mr. Amory as treasurer is
the splendid condition of the Amoskeag company. He took it in
its infancy, when it was poor. There was then but one mill of
about eight thousand spindles. He leaves it, after forty years
of success, with one hundred and thirty-seven thousand spindles,
and more than two millions of quick capital. You have received
in dividends, for forty-two years, an average of eleven per cent
a year; and, if to that is added the increase of the quick
capital, the company has earned fifteen per cent per annum,
without taking into consideration the money spent on the plant.
To put it in another light: a stockholder of one share, costing
one thousand dollars, if he allowed compound interest at the
rate he received on his dividends, would find that his share had
been worth to him eighty thousand dollars.
Public-domain text, read in full here on John Shaqi.
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