Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-12-03
The Dry Docks.

furtherance Of the view you have hitherto
expressed in relation to the Importance
of the Dry Dock enterprise. Their
remains to be taken from $4,000 {,
$4,000 to insure the removal Of thu
Docks now at Cairo to our city. an
informed that if this amount is sub
scribed by our home insurance com
panies, which have so decided an in
terest in the matter, or by monied men
or any good and solvent parties, it will
not be- required or asked for by the
owners of the Docks sooner than at six
and twelve months after the Docks are
placed here and put in operation; and
not then, nor ever afterward, if they
| do not perform to the utmost all that has
been pretended and claimed for them, and
more. Indeed it is expected thai profits
will begin at once, with full and ample
and paying employment None can
doubt that the bringing so valuable a
piece of mechanism here, with two hun.
bred hands and their families, will be oil
great advantage to the interests Of Mem
phis. And it may be the entering wedge
to many other valuable improvements
and acquisitions, which are to make this
a great city, if such it ever becomes.
Thinking men are beginning to see that
cotton leaves little behind it in passing
through the city. Begin to manufacture
| it here, and the small pickings Of COM
mission merchants will be laughed at as
| only pin-money in comparison. Other
manufactures will have the same effect.
| And mechanical enterprises are indis-
pensible to our growth. New York, the
entrepot of the vast commerce of the
continent, has ouistripped all other cities,
but not without the aid of very large
amount of manufacturing enterprises.
| And it is remarkable that Philadelphia
owes its greatness almost wholly to the
fact that it is the principal manufactur-
ing city, while Lowell and several other
of our principal cities have no other de-
pendence. Shall we not even begin, and
that at trihing present cost, and when the
outlay, which we could well afford to lose,
will be returned to Us, principal and inte-
rest, in couple of years.
/ am aware that considerations OF a
| public nature have no great weight with
many. But we have in this instance
sufficient private inducsment. sThere is
not TO be found another investment
which will prove go Immediately and
largely profitable. We are on the Great
Father Of Waters, the principal highway
of the continent. The thousand steam
ers that plough the waters of the Missis-
sippi need frequent reftting and repairs.
The most convenient point is that which
is midway in the route Of the largest
boats. And the best is that which is not
interfered with by ice, and where tim
Der and material can be procured
at the least expense. Every condition
of advantage required is fulfilled at this
point. And, with the advantage of the
location, it ia reasonable to expect
larger return to the stockholders than
has been realized at any other point, or
even, as believe, thsH eyer was realized,
in proportion to the outlay, anywhere in
the country. 1t has proved profitable
business elsewhere, and sure one. And
if here it has advantages incompsrably
greater than can be found anywhere
else on the river, what room can there
be for doubt as TO the fact that it will
prove first class inyestment2 So sure
am Of this that have invested to the
extent of my ability. and only regret
that it is not greater. The company
refuses, for this very reason, to sell out
more than half the stock, and consents
to that only because funds are needed
which they are unable promptly
TO command, in order to the es-
tablishment of the Docks here in
the manner which they deem most
advantageous. Like man who sells half
his land, or what he cannot advantageous
ly WELD, in order to procure means to
improve what remains to him, so they
expect from their remaining uusold por
ton to reap the advantage of the whole.
Although ] may not be able to do it is a
single communication, have no doubt
that in brief conversation, can con-
vines any sensible man that this is the
best paying investment which can be
named in this city to-day, tskiHg into
view its safety and certainty Of good re-
turns. The stakeholder viii be profted,
while he is also a public benefsctor
Every branch of business and every in
terest in the city will be benefited by this
enterprise, and we may hope many 9TH
ers will follow it, and the good example
be but the beginning Of many other good
things. Some ten thousand dollars
10 money and ten thousand more
in land snd lumber necessary for
the work, has already been sub
scribed. Fifteen or twenty thousand
more will bring the Docks to our
city. ! think you are right in your sug-
gestion Of yesterday that there is danger
Of losing them il tha stock is not taken
this week, as ! am informed the Presi-
dent Of the company has a similar propo.
sition from another point where the
money viii be more easily raised than
has seemed so far practicable here. /
cannot think il possible that We have not
men enough among rs Who are informed
Of the gtliiy and profit Of dry docks for
repairing and building steamers 10 take
the small amount Of stock now needed.
| feel an interest 10 this matter, both as
one Of the new though small stockholders
and IS q citizen, for / believe this is the
best point 10 the western country for
such q work. and that il would pay better
than any other point whatever, inde-
pendent Of ell considerations Of public
sdvsntsge, which are not 10 be despised.
The books are now open at the custom
house, No. 324 Front street, for sub
scripiion until Saturday next, BY which
time the matter will be decided whether
this or another city is 10 reap 90 great
and permanent advantage.
A SNAIL STOCTHOLDER