Chapter 3

How it started:

 

Adam Hampton attended Brown University on a one year scholarship awarded by the Old Brooking Rotary Club to the student who demonstrated the most promising entrepreneurial potential in his academic work. His father, a postal worker supporting a family of five, could not contribute any financial assistance, so Adam bussed tables in the university cafeteria to cover travel and living expenses. He was popular with his fellow students and was invited to join Alpha Phi Alpha, but while he enjoyed the camaraderie of fraternity life, he nonetheless listened to a different drummer than his brothers. While they spent their time in the endless pursuit of social activities and innumerable touch football games against rival frats, he spent most of his spare time in the library doing research on textile manufacturing and sweater designs. On weekends Adam visited small textile manufacturers in the towns surrounding Providence, looking for excess production time that might be available on their looms. He approached them with his designs and before his first six months at Brown had elapsed, Adam had over five hundred cotton and cashmere sweaters being produced according to his design specifications. Initially, Adam mostly sold to fellow students for their own use or for gifts. His business and popularity soared and he soon became the “go-to” man for students needing to earn extra money. Sales were brisk since his prices were half those of the shops in town. He paid a local seamstress to embroider personal names, figures or school letters. After a time, Adam placed ads in local newspapers and hired sales reps at colleges around the country. Sales expanded to several thousand garments a semester. Business couldn’t have been better.

True to the faith that the Rotarians had shown in him, Adam Hampton became an entrepreneur. As the profits from the sweater sales grew, Adam quit his cafeteria job and easily met the tuition bills for his remaining three years. By the time he graduated, Adam had saved over one hundred thousand dollars, quite a nest egg in those days. In his senior year, an owner of a local textile plant, who wanted to retire, offered to sell him the business. Adam purchased the company for a deposit of fifty thousand dollars and signed a bank note for nine hundred thirty thousand to be paid over ten years. Business was prospering and Adam felt comfortable that he would be able to meet this obligation.

Hampton Industries was incorporated in March, 1928. Adam’s mettle would soon be tested. By January of the next year sales began to slip. He tackled the problem head-on by installing faster looms in an effort to reduce his operating expenses. He took loans against his house and personal property to finance the machinery upgrades, reasoning that lower expenses, coupled with price reductions would translate into increased revenue and profit, but his sales and profits continued to plummet.

In December, 1929 Hampton Industries missed a payment on the notes and the bank, which was in receivership, refused to extend the grace period. Adam was granted one week to come up with the money or face foreclosure. Adam was suddenly in jeopardy of losing everything. Panic set in as he frantically searched for fresh money sources, without success. He shut himself off from his family and friends, locking himself in his office. He contemplated declaring bankruptcy, even entertained thoughts of suicide, but couldn’t bear the disgrace that either course would bring to his family. In a moment of sheer desperation, Adam knelt down, raised his eyes to the heavens and screamed out to the Universe, “If there is a power out there, please help me. I beg of you.”

Miraculously, at the last minute his business was saved when the bank decided to extend his loan. Hampton Industries slowly recovered, profiting during WW2 by supplying uniforms and medical supplies. It became a manufacturing powerhouse.

In 1969, at the age of sixty two, Adam Hampton was diagnosed with an inoperable brain tumor and made the final decision of his life.

Ten hours later a cleaning lady found his body slumped over his desk, shot dead by his own hand.

Hampton Manor and Hampton Industries were left to his son Adam Hampton II. His will also provided lifetime care for his wife Adelle who was confined to a nursing home. She died in her sleep three months later.