Chapter 65

FOUNDING EAST BRIDGEPORT--GROWTH OF THE CITY--THE JEROME CLOCK BUBBLE--A RUINED MAN--PAYING HONEST DEBTS--DOWN IN THE DEPTHS.

In the year 1851 Mr. Barnum had purchased from William H. Noble, of Bridgeport, Conn., the undivided half of his late father's homestead--fifty acres of land on the east side of the river, opposite the city of Bridgeport. Together they bought the one hundred and seventy-four acres adjoining, and laid out the entire property in regular streets, and lined them with trees. A beautiful grove of eight acres was reserved for a park. This they intended for a nucleus of a new city, to be known as East Bridgeport.

They then commenced selling alternate lots, at the same price as the land had cost them by the acre, always on condition that a suitable dwelling-house, store or manufactory should be erected on the ground within a year; that every building should be placed at a certain distance from the street; that the style of architecture should be approved by the sellers; that the grounds be inclosed with suitable fences, and that in all respects the locality should be kept desirable for respectable residents.

A new foot-bridge was built across the river, connecting the new town with the city of Bridgeport, and a public toll-bridge, which belonged to Barnum and Noble, was thrown open to the public free. They also erected a covered drawbridge at a cost of $16,000, which was made free to the public for several years.

They built and leased to a union company of young coach-makers a large manufactory, which was one of the first buildings erected in the town, and which went into operation on the first day of the year 1852.

In addition to the inducements of low prices for the lots, the owners advanced one-half, two-thirds, and sometimes all the funds to erect buildings, permitting the purchasers to repay them in small sums at their own convenience. The town, under such favorable auspices, began to develop and to grow with great rapidity.

No one of Barnum's schemes had ever interested him as this one