![]() Panoramic view of Lake Quannapowitt from its eastern shore, looking westward - June 2016 Boston Technology merged in 1997 with Comverse Technology, a digital telecommunications equipment manufacturer, which later bought the building Wakefield became headquarters of its eventual spinoff, Comverse. which invented and manufactured corporate voice mail systems that operated on computer systems. The headquarters building was sold to the Beal Company and was home to Boston Technology Inc. ![]() By the late 1980s American Mutual was in liquidation due to the Woburn W. American Mutual had over 1000 employees, most of them commuting to work via Route 128. Route 128 was built along the north edge of the town by 1958, and the American Mutual Insurance Company built its headquarters between Lake Quannapowitt and Route 128. The company is particularly notable for its extensive line of balsa wood model airplane kits. One of the oldest and largest manufacturers of flying model airplane toys in the world, Paul K. The first weekly newspaper in Wakefield was established in 1858. In 1923, the Lucius Beebe Memorial Library was built and established by Junius Beebe, the son of Lucius Beebe (1810–1884). In 1856 the South Reading Public Library was established, which later became the Beebe Town Library. The town hall, currently named for William J. In 1868 Cyrus Wakefield donated land and money for a new town hall, and in thanks the town voted to change its name from South Reading to Wakefield. This later grew into the Wakefield Rattan Company and at one time had a thousand employees. The Rattan Works (which made wicker furniture) was established in 1856 by Cyrus Wakefield. The Boston Ice Company cut and shipped ice from Lake Quannapowitt starting in 1851. The Boston and Maine Foundry was built in 1854 and was later reincorporated as the Smith and Anthony Stove Company. This later became the main line of the Boston and Maine Railroad. The railroad was chartered and built in 1844 between Wilmington and Boston. At the time it was spelled South Redding, not South Reading. In 1812 the Old or South Parish of Reading separated from Reading and was officially incorporated as South Reading. This North Parish later became the town of North Reading. The old parish church became known as the Old or South Parish when in 1713 the North Parish was established. This first corn mill was built on the Mill River on Water Street, and later small saw mills were built on the Mill River and the Saugus River. It officially separated from Lynn and incorporated as Reading in 1644 when the first church (First Parish Congregational Church) and the first mill were established. Wakefield was first settled in 1638 and was originally known as Lynn Village.
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