Literary cadet and Rhode-Island statesman. [volume] (Providence, R.I.) 1827-1829, 1828-03-05
TContinued from, first page.1

! from sunrise until sunset, deducting one hour
| for the two meals of breakfast and dinner; this
continues for six months. In the six succeed
ing months, we begin at day light, and work
! until eight O'Clock at night, deducting one hour
! for the same two meals.
Question. Have there been any dividends
made upon the stock Of your manufacturing
company, at any timer If yea, at what times,
| and to what amount?
Answer. There have been no dividends made
since the company was incorporated in 1926.
Before that period Mr.. Robbins and myself we're
alone concerned, and we made il a very fair
business from 1909 to 1924. and lS25 was also
a tolerable year. Since that time, it has been
losing concern.
! Question. Was your machinery moved by
water power! and, if SO, did it ever fail from
drought or frost?
| Answer. II was moved bv water power. We
never experienced any considerable inconven-
ience, either by drought or frost.
Question. Is there in your vicinity any ma
chinery for the manufacture Of wool now un-
employed; and to what extent?
| Answer My own is idle. but know Of NO
other in that neighborhood. We manufactured
$50 pounds Of wool day, when in full opera
| ton.
Question. What quantity of cloths have you
usually manufactured in the year? and do you
| RcucIdiiy Hilu Ioduy sdIc5 dt tuOoC PRICES WHICI
| the articles command!
Answer. During the year 1926, we wove q
number Of yards, equal to $1,000, ofbroadcloth
OF this quantity, about nine tenths were broad
| cloths in ia ; the other tenth was Of cashmere
| Two yards of cashmere is called equal to one
yard Of broadcloth. In 1925, the sales were
ready; in 1926 they were dull In 1927, the
sales we're quick, but without an advance oil
price. On the whole, business was better in the
year 1927 than in 1926. The low prices Of
1926 induced usao hold back, and we did moi
sell more than one fourth of what was wove,
and, in consequence Of it, the sales Of 1927
were much larger than those of the preceding
year; and we have now nearly sold off the
stock.
Question. Were not manufa cturers Of wool
lens generally doing better business previou,
TO 1924, than they have done since: and were
they not then doing well?
Answer. They were as far as my knowledge
extends. We were doing better business pre-
vious to the tariff of 1924, than we have done
since. Previous TO the tariff Of 1924, l thinl
the business was fair business, and nothing
more, for some years.
Question. Are there not many manufacturer
who began at an unfortunate period, and whos'
investments have been so injudicious that no in
crease of duty can restore their losses?
! Answer. know but one only.
| Question. Are not many ofthe factories, whicl
are now suffering and complaining, founded oI
borrowed capital?
Answer. Most ofthe factories, on an exten
sve scale, are incorporated; and think thci
. stock has generally been paid in. Whether th
stockholders borrowed the money paid in,
cannot pretend to know.
Question. Can you say what number Of com
panies have been incorporated in Massachusetts,
within the last four years, and tho extent Of thoi
capital?
Answer. l cannot. In the woollen business
know Of but two or three.
/ Question. Did you sign any petition 10 tn
last Congress on the subject Of woollen goods
and. if you did, was that petition for an increas
Of duty; or did il only pray for the security o
the present duty, by changing 1t from an a
: valorem to a square yard duty!
Answer. signed petition last year, whic
will best speak for itself; but suppose It praye
for specific or square ard duty, as my opinlo
is that no other duty will be available to tn
manufacturers. The reason Of this opinion is
the difficulty, if not impossbii.y, Of determin
ing the quality Of goods by appraisers. We d.
think the present duty sufficient, if collected
but the increase Of duty on wool in this country
, and the repeal Of the British duties, desiroye
to- the manufa cturers all the benefit OF the tari
, of 1924. The duty upon imported wool, b
the tariff Of 1924, was very injurious to manu-
{, | facturers.
Question. Is il not a fact, that small estab
; lishments, under the immediate care Of the pio
prietors themselves, have generally done bette
business, than incorporated or joint stock com
, panies!