CaMilo Hernández II
This paper was prepared for Principles of Business, GEB 1011, taught by Professor Juan Perez.
Newark, NJ- A Study of an Industrious Cycle
The City of Newark, New Jersey, founded in 1666 by Robert Treat and a group of Conneticut Puritans fleeing New Haven due to political presecution, has gone through a series of ups and downs that was equivalent to an industrial or business cycle of an organization. This research paper will point out a summation of the Boom times this once elite metropolis went thru at it’s zenith of evolution, the problems it encountered that lead to a major Recession, the economic turmoil and civil conflict that resulted in two Depression periods and the Recovery process this city is currently immerging from. The Boom- Newark's rapid growth began in the early 1800s, much of it due to Seth Boyden a Massachusetts transplant who introduced the process manufacturing leather culminating in a unique method for producing patent leather; a major industrial development. Boyden's genius led to Newark's production of 90% of the nation's leather by 1870. Other inovations that sprouted out of this metropolis included malleable iron, plastic, celluloid, zinc electroplating and a superior arc lamp. With the railroads finally tying into New Jersey from New York and Pennsylvania, the sea and rail shipping business flourished making Newark the industrial center of the east. Entertaiment also blossomed so much that by 1922, Newark had 63 live theaters, 46 movie theaters, several dancing halls, a bevy of fine restaurants and an active nightlife rivaled only New York City. In 1929, Newark began constrcution of City Subway making Newark one of the very few cities in the country to have an underground system. The population of the city went from 246,070 counted in 1900 to 442,337 in 1930, a 79.8% jump in just 30 years. This prosperity...