Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1845-08-28

| auCiuSS OeiHpauy. Ouo W0uIu suppose
that such men, engaging in new enter.
prise, would have given the subject some
sort Of investigation. The position that
these gentlemen occupy in the State, as
TO fortune and other things, is a proof of
their ability and eminent success in such
enterprise as have gained their attentions;
but unfortunately for them in this in
stance, they only looked across the wa
ters, at the promised land they fitted
out their bark for the voyage, but went
| to sleep al the helm.
"This Company obtained a charter
from the Legislature, and organized them
selves by eIecting President and five
Directors. They wrote TO Patterson, N.
| j., for machinery, suited to the manufuc-
iure Of cotton aud woof-fne and course
cloth-assorted yarns, &C., thus, ss Will
be perceived, splitting on the same rock
which wrecked the Saluda Company
They committed the same error, of not
looking beyond the supply Of the imme-
date npighborhood, and so complicated
their machinery as to render it impossi-
bic for II to produce profit, except by the
incest and most skilful management
The present proprletors OF this establish
ment have sold the woollen machinery
and are remodding the balance, but II
will have TO receive many additions in
new machinery before ii will DO capable,
with the best management, oil turning out
the quantity, per hand, that the Massa-
chusetts mills do.
"The strangest part of the story re-.
mains yet to be told. AS above stated,
this Company elected President and
five Directors to manage their Affairs
This Board ordered the machinery to be
made and sen! out-appoInted an agent
to superintend the erection of q suitable
building, for it, and houses for the opera
tives. Will the fact be credited, that this
Board Of Directors never had meeting
after its first organization, not even to
receive the building from the contractors
hands The factory ran, thus neglected
by those appointed to look after its affairs,
for two years and SIX months, aud is it
surprising that, instead Of making money,
they should have incurred debt OF
$4,000 Fortunately for the company,
ull lHuiFlduhi uuQtlltOA W 1hiNhuoO ooiiio
of the shares, and after possessing him
self Of number sufficient to excite some
interest, he looked into matters, and found
the mill in charge Of an ignorant English
man, who received IS per day. lie
knew nothing Of the busInl SIS, and as was
afterwards proved, had never before had
charge, even OF single department IN
ynHl He in fac nniu "a
operative, with neither truth nor honesty
in him. This gentleman Immediately
determined to apprze the company OF
their real condition. 1t was with the
greatest difficulty sufficient number of
the stockholders could be brought togeth.
er to form a quorum, in order that mea.
sures of relief might be taken; and but
for tEe debt of $4,000, which was about
to 90 into judgement, it is very question.
able whether a meeting could have been
obtained. The result of this meeting was,
| that the property was offered for sale
! The gentleman alluded to above, who
had purchased into the company, took up
his abode at the Factory, as a summer
resldence-discharge the English over.
seer, and took charge of the establish.
ment in person-made tho Factory turn
out double its former product--purchased
the cotton and other supplles-sod the
goods, &C., and in eight months previous
! to the sale made a nett sum for the ow-
lners of $1,000. TINS paid the debt
aud left surplus of $4,000, and but for
| this circumstance, the establishment would
! have been sold for mere song. Tho
shares fifty-tour End half in number,
cost originally $1,000 each. The sale
produced about $3.50 per share. So en-
deJ the Vaucluse Manufacturing Compa-
nv, aud it is a matter of surprise that the
stockholders did not sink their entire cap
ital."
In contrast with this negligence on the
part Of the associates in tho Vsucluse
works, Mr.. Gregg exhibits the conduct OF
tho Boston merchants, who when they
undertook manufactures were as ignorant
Of the processes, as the Carolina planters,
who did not, any more than those plant
ers, put their own hands 10 the work
but who took care, in the first place TO
select proper agents, and 10 the next to
watch that those agents did their duty,
and realize the promises of the establish
ment. And all this they did on a large
scale and with liberal views, and we'll
have they been rewarded. Mere econo-
my, or the SAVING of the last farthiug, or
screwiug down to the lowest compeusa-
ton they never dreamed OF. "Their
agents at the mills" says Mr.. Gregg, cor
everseers as we would call them, reside
in Gne houses and wear silk gloves
Their situations are similar to those of
our bank presidents at Charleston, and he
adds, what will surprise many, 'that IN
ten corporations in Lowell, not one OF the
agents is a practical manufacturer, that
lis, man brought up behind the spinning
Jenny. Six out OF the ten are Lcyers
they are however shrewd business men,
who look well TO hiring good suoalterns,
and see that the results OF the factory
show, that they not only understand, but
perform their business"
A very large portion of the capital of
these Lowell works is absorbed IN the
cost of water power, which is very dear,
in the ornamental style of Their buildings
u r,.laaas hiIlIt ipr thar