August 24, 1769|
|Died||May 21, 1852
Tiverton, Rhode Island
|Known for||Early Textile Mill Owner|
Oliver Chace (August 24, 1769 – May 21, 1852) was the founder of several New England textile manufacturing companies in the early 19th century, including the Valley Falls Company, the original antecedent of Berkshire Hathaway, currently one of the largest companies in the world.
Chace was born on August 24, 1769 in Swansea, Massachusetts to Jonathan Chace and Mary Earle, members of well known Yankee families in New England who had come from England in 1630 in the Puritan fleet with Governor John Winthrop. Chace and his family were Quakers (Society of Friends).
Oliver Chace married Susanna Buffington on September 15, 1796. They had seven children together. Oliver's two eldest sons, Harvey (born 1797) and Samuel Buffington (born 1800) would later follow their father into the textile business. Susanna Chace died on July 30, 1827. Oliver's second marriage was to Patience Robinson. They had no children.
Manufacturing career and legacy
As a young man, Chace worked as a carpenter for Samuel Slater, who established of the first successful textile mill in the Americas at Pawtucket, Rhode Island in 1793. In 1806 Chace eventually started his own textile mill in Swansea, Massachusetts and then the Troy Cotton & Woolen Manufactory in 1813 in Fall River, Massachusetts and the Pocasset Manufacturing Company in 1821, also at Fall River. He later acquired and reorganized the Valley Falls Company in Valley Falls, Rhode Island in 1839.
Oliver Chace died in on May 21, 1852 and was buried in the Old Quaker Burial Ground in Providence on Olive Street. In 1929, the Valley Falls Company, and others would combine with the Berkshire Manufacturing Company of Adams, Massachusetts to become Berkshire Fine Spinning Associates. In 1955, Berkshire Fine Spinning Associates would merge with Hathaway Manufacturing Company of New Bedford, Massachusetts to become Berkshire Hathaway, the company acquired by investor Warren Buffett in 1965.
- Oliver Chace's Thread Mill
- Valley Falls Company
- History of Fall River, Massachusetts
- Elizabeth Buffum Chace
- "Oliver Chace". Find A Grave. Retrieved September 29, 2012.
- Elizabeth Buffum Chace, 1806-1899: Her Life and Its Environment, Volume 1 By Lillie Buffum Chace Wyman, Arthur Crawford Wyman (W.B. Clarke Company, 1914), pg. 21
- History of Bristol County, Massachusetts, J. W. Lewis & Co., 1883
- New England families, genealogical and memorial, Lewis historical publishing company, 1915
- A Centennial History of Fall River
- Elizabeth Buffum Chace and Lillie Chace Wyman: A Century of Abolitionist
- Oliver Chace Family Tree
- John Kostrzew, "Rich and richer: Berkshire, Buffett and R.I.'s Chace family," Providence Journal, 7/10/2006
- Chace Family
- History of Valley Falls
- Information on Oliver Chace, with portrait
- Find A Grave