Literary cadet and Rhode-Island statesman. [volume] (Providence, R.I.) 1827-1829, 1828-03-01

Committee on Manufactures ofthe House OF
| Representatives..
Question. Is your machinery moved BY wa
| ter-power? and, If SO, does it ever fail from
drought or frost!
| Answer. 1t is: and we have no impedimest
| from drought or frost. The reason assign for
our freedom from trouble by frost, is, that
our factory is situated at the outlet Of pond,
formed mostly by springs, and the wheel does
| not collect frost.
Question. Is there. in your vicinity, any ma
chinery for the manufacture OF wool, now unem-
| ployed, and to what extenti
| Answer. l believe there is but l have no
means of ascert aiming to what extent think,
however, to d considerable extent.
Question. OF the capital employed in your
| establishment, what proportion did The real es-
| tate, buildings, and machinery, form
Answer. I should think the real estate, build
ings, and machinery, were, when we commenc-
ed business, worth, rising $4,000 OF which
the machinery, probably, constituted $4,000
Question. Has not real estate generally suf-
fered great deterioration IN value, as well as
| every other species of property, within the last
| two, three, or four years
Answer. l should not think that, within the
time referred to, there had been deterioration
Of the property mentioned in the question, IN my
there are, in rat neighborhooA, large num-
Der Of cotton and woollen manufa ctories which
consume the produce of the farmers in that sec
ton Of country, as we'll as large quantities of
-four and other provisions. brought from the
Southern and Middle States.
Question. In making your estimate Of losses,
do you value your real estate, buildings, &c. at
what thoy cost, or at what would be fair price
for them now, compared with the relative value
Of other property?
Answer. We value the buildings at what
would be their deprecated value by natural de-
cay and we also value tho machinery, with
reference TO its natural wear. Our manner Of
valuation is, to deduct the estimated wear, ca
sualties, and natural decay, from the cost, to
arrive at the present value These estimates en-
ter into the account, in making up the profit and
loss account.
Question. What quantity have you usually
manufactured in the year and dc you general
ly find ready sales at those prices which the ar
ticles command |?
Answer. 1t would vary from 5000 to 5000
yards Of broadcloths. and from 6, 900 to II, 900
yards Of cassimeres In 1925, the sales were
quite ready. In 1926, they were very dull. 10
1927, at the prices the articles command nded,
they were pretty ready, but the prices were no
bettor; except that. in some inst slances, the sales
werc made upon shorter credits. The profits,
in 1927, have been better than in 1926. In
1927, we did more work on contract than we
did in 1926, which further mended the business
Question. Did you manufacture the same
articles tha last year, the first year of your
operations or did you manufacture yarn, &C.
in 1926 and 1927
Answer. They were Of the same kind.
Question. Were not manufacturers Of wool
lens doing a better business previous TO 1924,
than they have done since
Answer. l am not competent to answer the
question /; as, at that time, was not engaged
in the business. On the passage Of the iarih bill
Of 1924, ! thought the business would be plac-
ed on a permanent footing not anticipating
that theIBr:ish would repeal their wool laws.
or evade the payment of the duties and so
deprive US OF the benefits Of that bill and but
for the repeal of their laws, and the evasions Of
the duties, my opinion is, thu, the present du-
ties would furnish sufficient protection.
Question. Are there not many manufaciu-
rers who began at an unfortunate period, and
whose investments have been so injudc,ous,
that no increase Of duty can restore their losses
Answer. am not personally acquainted with
any, in my section Of country, who are in that
situation.
Question. Are not many of the factories,
which are now suffering and complaining, found
ed on borrowed capital
Answer do not know that fact. think =,
generally, that, in Massachusetts,, it is other
wise.
Question. Can you say what number Of COM
panes have been incorporated in assachusetts
within the last four years, and the extent Of their
capital
Answer. I cannot There have been some
interpretations, during that time, Of woollen
fa4 LA
the number. should think it has been small.
A number Of companies, before connedceinI
manufa cturing, as joint partners, have. within a
few years, obtained acts Of incorporation, for
the convenience oe doing their business.
Question. Are there not at this time many,
and, if yea, how many, applications, before the
Legislature of Massa chusetts, for the incorpora-
tion Of cotton or woollen manufacturing COM
panies
Answer. was, when left Massachusetts.
Chairman Of tho Committee on Manufa ctures,
Of the Senate of that State, and had, in my
hands, as such, think. four applications for
new charters for manufacturing companies. one
of which was for the manufacturing Of carpets;
the other three were for manufactures Of cot
ton. The wooIen application was from COM
pany who had been sometime engaged in the
carpet manufacture.
<ucSuo"' D'u you oigH duy pe'u'oh 10 the
last Congress, on the subject Of woollen goods !,
II you did, was that petition for an increase Of
duty, or did il only pray for the security Of the
present duty. by change it from an ad vaioren
TO square yard duty
Answer. If signed any, and I think il pro-
bable did, il was for square yard, instead Of
an advalorem duty and my impression is, tha
il was intended for the purpose oe securing the
payment ofthe existing duties principally. The
effect Of a change from an ad vsiorem to
square yard duty. would, 10 my opinion, necss-