Gardner Colby

Gardner Colby (September 3, 1810 – April 2, 1879) was an American businessman and philanthropist active in textile manufacturing, railroad development, and Baptist educational institutions in New England. He served as president of the Wisconsin Central Railroad from 1871 to 1878 and became the namesake of Colby College in Waterville, Maine, following his $50,000 donation in 1865.

Early life Gardner Colby was born on September 3, 1810, in Bowdoinham, Maine, to Josiah C. and Sarah (Davidson) Colby. According to the Wisconsin Historical Society, his father was involved in business interests before losing his fortune during the War of 1812.

Following his father's death in 1814, the family faced financial difficulties. Jeremiah Chaplin, a Baptist minister who served as the first president of Waterville College (later renamed Colby College), arranged for the Colby family to operate a store in Charlestown, Massachusetts. The family later moved to Boston, where Gardner worked as a clerk while pursuing his education.

Business career Retail and importing Colby began his career as a clerk in a dry-goods store, earning $150 per year plus board. Using his savings and a small loan, he opened his own retail store in Boston. Gardner Colby & Company eventually expanded into wholesale operations and importing, including trade with China. The mill was located on Mother Brook in what is now Dedham, Massachusetts. The mill had been established following the 1842 death of Benjamin Bussey, whose woolen mill was sold to Edmands in November 1843 for $30,000, with machinery and materials valued at over $45,000.

The company became the largest taxpayer in Dedham, Massachusetts by 1870. During the Civil War, Colby obtained government contracts for supplying clothing to the Union Army, which according to the Wisconsin Historical Society, allowed him to acquire "a considerable fortune."

Wisconsin Central Railroad In 1869, Colby made his first trip to Wisconsin and became interested in the construction of the Wisconsin Central Railroad, serving as its president from 1871 to 1878.

The railroad faced financial difficulties during the Panic of 1873, when Colby encountered challenges raising additional funds from investors. The 340-mile line to Lake Superior was completed in 1878, after which Colby retired from the railroad business and returned to Massachusetts. The college met this condition within two years, and in 1867 was renamed Colby University in his honor. According to the Press Herald, Colby provided approximately $200,000 total to the college by his death in 1879 and served as a trustee from 1864 until his death.

Newton Theological Seminary Colby funded the construction of Colby Hall, which housed the library and chapel at Newton Theological Seminary. The building was designed by Alexander Esty in 1866 and constructed of stone with an atypical third-story mansard roof. His 1879 memorial tribute notes that he also made donations to Brown University and the American Baptist missionary union.