Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1836-10-18
Propectus
OF TIE
AMERICAN LITERARY COMPANY.
OF TIE

AMERICAN LITERARY COMPANY.
TENIIE object ofthis Company is to elevate the
D. general standard Of literature in the United
States, by introducing into common use, an
! improved uniform series of elementary books, and
stimulating native talent, by securing to authors
the publishers profit OH other than school books.
| The plan is, the organization Of company
with sufficient capital to publish all books written
by native authors, which may b. approved by
committee of publication, at the risk of the CON-
pany, who shall pay over 10 the author all profit
on the sales, after deducting the printers char
ges and incidental expenses.
1t is proposed to manufacture the paper used
in printing, and thus to save the expense of dry
ing it for market, putting it into bundles, trans
portation TO market, commission, interest and
guarantees, equal at least to twenty per cent.
A greater saving can be made by the employ
ment ofboys in composition, printing and bind.
ing. This, with the profits on periodicals. re-
prints, and elementary books, will secure to the
stockholders good dividend.
| By requiring each clerk foreman, papermaker,
journeyman, proof.reader, and all others connect
ed with the Company, to hold certain amount
ofstock proportioned to their salary, which, when
it has not been paid in advance, will be iqudated
| by sinking fund out of their earnings, and held
subject to be assigned to the successor of each,
upon condition that such successor shall be al
lowed to pay for it by deduction from his earn
ings, each person attached 10 the company be-
| comes a stockholder, and to the extent Of his
stock, interested in the success Of the institution.
This feature will be rigdly enforced, and in case
any one in the employment ofthe Company shall
for any cause, be dismissed or leave its service,
his stock will be assigned to his successor.
Agencies will be established in the large cities,
! where the Company's books can always be had
at the wholesale prices. Booksellers, and coun-
try merchants who sell books, now pay profit
| to the paper maker, another to the printer, and
third 10 the publishers. Those who subscribe
stock in this Company will receive books at their
cost, rating the printing at the New York prices,
to the amount of the stock so subscribed it be-
ing understood that the dividend on their stock,
to the amount of six per cent. per annum only,
shall be charged interest and that all dividend
above six per cent. shall be paid to such stockhol
ders. The Company thus guarantee to booksel-
! lers dividend of 6 per cent. per annum on the
amount oftheir stock and the paper makers prof
it, the printers profit and the publishers profit,
over and beyond their own profit as booksellers.
The advantage to the Company is, that all the
stockholders will be interested i'll getting work
for the Company's office, and that each stock
holder will always give preference to the Cum-
pany's paper and the Companys books over those
of other makers aud publishers. Such an ar
rangement with the booksellers will enable the
Company, by means ola circular addressed to
their correspondents, enclosing their report ofthe
committee of publication, to be sold, and thus
protect them against all loss by ascertaining in
advance if proposed work can be sold for if it
cannot be sold the Company will not print 1t.
Thus the interests of authors, publishers and
booksellers will be reconciled, by creating CON-
munity in which the rights of each will be Sc
cured, the public benefited by the introduction
of a uniform series ofimproved school books, and
the South protected against the introduction of
any matter tending in the most remote degree to
assail our institutions and prosperity. And when
we take into consideration the fact was that there
are now held against the prejudces of the world
that society with more than five hundred
auxiliary associations spread over many OF the
States of this Union, with immense sums for the
gratuitous distribution of tracts and pamphlets,
have declared universal emancipation, and re-
have on the matured mind, all must see the i'm
portancc of guarding against the admission into
our elementary books of any matter which may
Inislead the feelings or judgment.
Inasmuch as the sale of school books is much
greater, and the value and profit depends much
more on the publisher, the Company will divide
the profit with the author or compiler on all ele.
mentary books. This arrangement will place all
authors and compilers on the same footing; and
inasmuch as the company will have no interest
in the copy right beyond contract for the ex:
elusive right 10 publish until better or improved
book is produced by some other author, the COM
panv will be always inviting, and in fact offering
a premium for better and improved books AS it
now is, every author encounters the competition
of publishers who have the copyrights of rival
books. This Company will be an impartial um.
pirc, ready to place each now competitor on the
same footing as the most favored party. Its OBJ.
iect being to publish the best book and the profit
being the same OH either, the preference will al
ways be, and Directors will be held in Columbia
South Carolina, on the 3Oth of November. In
the mean time subscriptions will be received, and
the certificates of stock issued when the Compa-
nv is organized. The objects to be accomplished
by this Company are such that it is hoped there
will be no want of funds; and We especially rely
on the readers of the Telegraph to forward thel
DUFF GREEN.
W,Sbinrton C;tv AuU1st Cd 1886