No. 10 Pingree Heirs
Salem shipping merchant David Pingree purchased his first tract of Maine timberland in 1841. The savvy Bay Stater sensed that the golden age of the clipper ship was coming to an end. Furthermore, the Panic of 1837 had driven down land prices in many markets in the new republic. Pingree acquired landholdings in over 100 different Maine townships as well as in Ohio, New Hampshire, Kentucky, Wisconsin, and Texas. All told, he amassed more than one million acres. Today, Pingree lands are consolidated in Maine and owned by fifth-, sixth-, and seventh-generation members of the family. They are managed by Seven Islands Land Co. Through affiliated companies, Seven Islands Land produces lumber (Maine Woods Company); birch, oak, and maple flooring (Moosewood Millworks); and wood chips (Portage Wood Products).