The
land-holding company, formed in 1773, bought land at the mouth of
the Winooski
(Onion) River,
in the intervale, and around the Winooski Falls from its New York
owner, Edward Burling. The company purchased onlyNew
Hampshire Grant Lands,
and
owned a total of 65,000 acres in about 15 to 20 towns which constituted
major land speculation at that time. The company was dissolved in
May 1787; Ethan received 1400 acres of the intervale land in the settlement.