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HISTORY The Burlington Company absorbed various mortgages of George Croghan between 1768 and 1770. The mortgages, issued to William Franklin , the last Colonial Colonial Governor Of New Jersey and assigned by him to the company, included one for 40,000 acres (160 km&2) of Croghan's Otsego County, New York , purchase. Franklin was the illegitimate son of Benjamin Franklin , and a British Loyalist . Besides making personal loans to Croghan, Franklin purchased a 50% stock interest in the Burlington Company in 1772. In 1773, the remaining original shareholders sold their stock and rights, including Franklin's mortgages, to Andrew Craig and William Cooper . Cooper was the father of author James Fenimore Cooper . Soon after Cooper and Craig instituted Sheriff's Sale proceedings under a judgment of 1773, neglecting to inform Franklin. After that Craig and Cooper purchased the Otsego tract for $2,700 by questionable means. Efforts of Franklin and Croghan's heirs to contest title proved fruitless. Cooper went on to found Cooperstown and Burlington on this land. SEE ALSO REFERENCES
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