The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1868-12-19
PRODUCTION FOR THREE YEARS.
6,26I,665 528,lI4 2O,364, ,9l9

1t may not be uninteresti ting to some of
our present stockholders to state what has
been accomplished in the past ten years.
1t will be remembered by those who were
among the original purchasers, that the
property was purchased of the city for $140,-
600 on ten years credit, with interest at
seven per cent, payable semiannually, and
one-tenth of the principal annually, the
purchasers paying in as commercial capital
$780, OO0 This amount, IN consequence of
the dilapidated condition of the property,
was Ialmost entirety expended In the first
two years, in repairs rendered necessary by
the then condition of the property. We have,
since the purchase, paid for the entire
property without calling upon the stock
holders for another dollar added largely to
the property by purchase and building,
bought about 100000 worth of new ma
chinery, increased the capital to 100000
by the addition of portion of the surplus
paid dividends regularly, and have now a
property worth the par value G$6OO,0OO i'll
gold.)
The operation thus minutely detailed well
merit the careful consideration of every
capitalist in Tennessee. Let US examine
the facts yet more closely. President Jack
son shows that just ten years previous to
the date of his report the present company
puICud5ou3 Al d very ulldDAOdGo4 CUllUlJ1UuJ
the Augusta Cotton Factory for the sum of
one hundred and forty thousand dollars, in
ten annual payments of fourteen thousand
dollars each with interest at the rate of
seven per cent. on the whole sum semi
annually, until paid. A call was then made
on the stockholders for sixty thousand of the
one hundred and forty thousOnd dollars,
which was paid in and devoted to putting
the mill in thorough working order. From
this time forward all the installments of in
terest as well as principal were punctually
met until the entire debt was iquidated.
And what must be regarded as an equally
important point, the stockholders received
liberal dividends every three months, or
even Oftener, during that period. Then
came the war. What were the profits of
the factory in those four years of civil strife
we are unable to state, as President jackson
does not allude to it in the report under ex-
animation, but those of our readers who
cast their fortunes with the Southern Con-
federacy doubtless often heard of the almost
incredible dividends, made monthly and
even weekly, by what was then facetiously
termed the " Augusta Manufacturing Tub
Mill dividends which mounted so high
up in the figures that at this late day we do
not care to risk our reputation for yeracity
by attempting SO much as an approximate
estimate of their proportions. 1t is enough
for our present purpose to know that since
the g0Gr, or from June Is, 1865, to June 80,
1868, the company has added to its machin-
cry, by $92, $50 rs, and paid to its stock
holders the snug sum of $360,00O, besides
adding to its "proft and loss" or surplus
account, $124,052 81, thereby swelling that
fund to 1924, ,798 d The fact should be
carefully borne IN mind that these gigantic
operations are the result of but Si1ty thou
sand dollars capital paid in when the first
and only call was made upon the stOckhOld-
ers. Still further should it be noticed that,
after the enormous dividends above men
toned have been paid, the gold cash value
Of the company 8 property was, on the Both
of last June, six hundred thousand dollars,
irrespective of the profit and loss or sur
plus fund, which, as before stated, amounts
to 1924, ,768 %.
Now, with these figures before US, we ask,
in all earnestness whether any cotton manu-
featuring company North of Mason and
DixOn's line, may not be safely challenged
to make such a showing? We do challenge
one and all of them to a comparison of
operations Let the cotton lords of New
England look-nOt to their laurels, but
to their pockets: for there's no need Of any
statistical prophet to demonstrate that, if
we of Nashville, and of the South, eXpend
but half the labor and resources in helping
ourselves which we now devote to enriching
those who are our bitterest political perse-