Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-12-04
DD VI ES'H'EC.

COMMERCIAL CONTENTION
REPORT OF NIX. SToCKDELl. ON MANuFACIukbni,
The Committee the subject OF Manufactures SUP
nit The following
The Committee very much regret that the necessity Tor
dispatch denies them the Opportunity oil nin"'nS 'ren
duties as they would desire. They labor under the iut
,her ssdvanage Of having precise information IN
respect To several important points, where many oranch
es Of manufactures have bePn IN successful operation
u,on large and antiy increasing scale. They are
in measure compelled 10 limit themseve 10 an emf
uon of the manufacturing Condition OF orc p ~
Bu, for this, their apology Is. 'h. , '"e " ,h;s
ho,, ,hsre cause for regret as It may be sale
y, ,rd of the entire manufacturing interest OF The
g that i, will advance and flourish under The same
common influence and tht, hitherto, wherever mas
been ndu.,rousy and prudeuy conducted II has yeiu
ed an adequate for the capital invested aud MADE
valuable additions to the resources of the State
The aggre gate amount of capital Of the several Com
panies of Petersburg engaged IN the manufacture OF
cotton is $772 000 There are 2o,0Oo sp'ndes ana O'o
looms requiring : 800 bales of cotton annually. Inc
operatives employed ,0G0, whose wages exceed
$3.50 900 per annum For The machinery and lights,
they consume abou, 600 gallons Of OIL and for sizing
about 900 barrels of flour The product Is about
3n 900 wards of cloth and $50 000 lbs. Of yarns
Accompanying this report Is table showing The capal
of each company, the extent OF rs business. &c; ana
BY it will be that the dividends OF TWO OF the com
ua MES the first months of the present year have
been ten Der centum md Of third company thirteen
per crnlun its capital The other companies hov-
ing been hut recently put into operation have as yet de-
c.ard M dividends The dividends Of past years have
seldom tf evrr) fallen under 10 per cent per amman,
and have generally reached beyond ~ per cent This
is an encouraging view Of this branch OF industry; II
has been existence about ten years beginning under
many discoura gemens: but showing il has advanced,
it's capacity sustain itself ard Ia reach state of yet
higher and more extended usefulness And IL Is ob
remark just /, progresses It Will elevate The
South from the condition 81 dependence on the indus
try Of the North and East and furnish The direct and
al, " ktI
therefore tends 10 encourage cotton manufactures and
for like reasons whatever lends TO encourage all other
branches of manufacturing interest," comes directly IN
aid Of the objects Of this Convention.
Although these manufactures have continued 81 adu
ally TO increase and believe the same may be SAID OF
all the cotton manufactures Of Virginia yet ify have
br-n aDnrng under one great and serious disadvantage
which operates alike upon all The manufacturers OF the
State whether individuals incorporated companies
namely the want Of sufficient Banking Capital, or the
application Of portion Of that in different channel
80 that the manufacturer who compelled TO pay cash
for the raw material and sell credit may be enable
To reduce into cash the popc! for which he sells his goods
We believe That The cotton manufacturers throughout
the State, agree that, were This want supplied they
have nothing 10 osk and nothing To f ar from The
entire repeal of all protective duties; aud still less from
any competition with our Northern brethren.
The Nortbern manufacturers, owing 10 their liberal
system of credits are enabled 10 sell their goods
credit Of months and Immediately to have the paper
cashed for which they suld and thus the Southern
merchants who must necessarily sell on long credit
home, tempted 10 buy at the North even al higher
prices, and certainly in larger quantities.
The manufacturers of the South having been enabled
10 succeed thus far not The less to expect all the
countenance and support Of the people and the Legsla
ture which be granted without delment to- and in
deed in wIth tha other great Interests OF the
commonwealth.
All tina, is asked is TO enable them cash their sales
made at TO months time This granted, and their
march is onward; and Instead Of 20 per cent per annum
upon Thousands they would make like dividends upon
,In nit
become a ready and powerful auxiliary to Internal In
provemens and TO all the great interests OF the Com
Inonweath.
Your Committee conclude this very hasty and imper.
feet report by single resolution, as follows:
Resorsd, the opinion Of this Convention, That an
increase Of Banking Capital, upon principles liberal
as attract capital from abroad well as at home,
necessary and Indispensable 10 aid our manufacturers in
granting the Southern merchants the credits
that granted here; and without which extend
ed credits all the natural and local advantages which
enable to be emnenty successful in competition with
Northern brethren, either nentrallzed mate
rally Impaired.
.9ddenda
Statistics of the Cotton Manufactures of Petersburg
Petersburg Manufacturing Company, incorporated in
1928 capital $40 600; operates 700 Spindes and JOG
Looms; consumes about 600 bales Cotton annually
when in full operation, 000 lbs, Of which is sold in
the form Of yarns, and the balance wove into cloth;
plays 200 hands, whose wages amount 10 more than
S25 900 annually.
Las, dividend for six months 10 per cent
Merchants Manufacturing Company, incorporated in
1892 capital SIS OG0 operates 600 Spindles and ll2
Looms; consumes about 400 bales Cotton, annuslIy
which produces abou, 500 600 yards Of heavy CLOTH be
sides about GEO lbs sold yarns employs about 200
hands. pays more than S25 900 per annum wages.
Last dividend for six months ID per cent
Matoaca Manufacturing Company, incorporated in
1895 capital $50 900; operates GOO SpndIes and l52
Looms; consumes about 5000 bales Of Cotton annually.
which produces about $50 900 yards Cot employs 200
hands
Last dvid.nd for six months 10 per cent.
This company also have aPaper Mill capital $1,000
employing at present 80 hands, and will very soon em-
pny 80 more.
Etlrck Manufacturing Company incorporated IN 1888,
capital S52 0G0 operates GOO Spndles and JAG Looms:
consuming 600 bales Cotton annually. which! produces
about, 600 0G0 yards Cloth; employs 200 hands But
lately gone into operation and has not yet declared
dividend
Mechanics Manufacturing Company, incorporated in
1888 Capital $l25 O00 operates 1000 Spndles and l54
Looms will consume when in full operation about 700
bales Cotton annually, which will produce 900
yards Cloth; employs $50 hands But lately gone into
ope grafton and has not declared dividend
Reorganization: The whole amount of capital is $772,
600; operates 900 Spindes and Go Looms consumes
&, 500 bales Cotton annually. which produce about
S $50 600 wards of Cloth and $50 900 hs "f Yarns;
ploys 1000 hands whose wages exceed s30,OG0 Con.
sumes for machinery and lights. about 600 gallons of
oil and 1000 barrels -four for sizing
A GREAT DEsIuERATUM- THisr Chaias.-lt has all
along been our opininn that iron could he wrought fer
guiding The tlrrs Of steamboats, TO be perfect sub
suulp foe rope