The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1870-02-03

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the free trade, or low tariff men, desire
the iron business to be .remanded back
to the same condition which ruined it
during Mr.. Buchanan's administration.
Do the people Of Jackson county desire
thisl And has the business beer, pros
porous within the past ten years. 2,,i,,
Limestone Furnace went into the
hands Of receiver more than ten years
ago, with a debt, as | have, stated, Of
about $50, 900: 1t was important to
both stockholders and creditors, that q
competent man should be receiver, and
four or FIVE different men, at different
times, appointed by the Court, a the
suggestion Of the parties ip interest,
and the papers on file in Court show
that the debt is now So, 900 greater
than it was when the first receiver was
appointed. And these receivers have
had all the advantages'of awar prices,
when iron went up to $40 per ton.
IN Orange Furnace was built near the
close Of the war, and only run a short
time when'it went into the hands of a
receiver, with an. Indebtedness Of about
$50, 900. 1t wilfbe said that this was
caused by Mr.. James Watson, the
owner, taking the earnings Of the Far
mace, and investing them in other bu-
siness. But this will hardly do For
two years the Furnace was in the hands
of w . III! Hampton, 8 man thought to
be every way competent, and yet his
report shows only some SO, 900 made
in the two years, or less than 4 per
cent. on the value of the propertysih-
vested. 1t has now been inathe. hands
of Mr.. GVaudyke nearlS1ohe year. lit
cannot yet be known whethetG he has
been more successful than his prede-
cessor or not. .Hecappeam to bea live, !,
industrious, energetic man, and tits
hoped that he may be able topay sorne-
thing on the debts; but I5think it is
very doubtfuls1aqo bnr bg'eas1O 4m1a
When Iron went up, during the war,
Ex-Gov. David Tod and hissons, men
of wealth, and much experience in the
iron business. bought Diamond Fur
mace, at this place, and proceeded to-
putt into blast 9Forsome time they
hadforrmansger JIM. Ge Smith, aHman
Of thirty years experience lnathe iron
bnsiness--a man who had cleared $40, =
900 at Soioto Furnace in three years! !
Then they had Mr. Allen HelIewell for
Managerial man of talent and expert
ence. Here were wealth and expeTi-
ence combined 30 and this at the very
best period for making the z business
profitable. AndnYstg after sinkihga
large SUM of money, as i know from
sworn statements by way of. income ret
turns, the owners of Diamond aban4
dened the business. removed the 9ma-
Chi merry, tore down the FuEnace,uoand
sold the real estate, with all the build
ings, for $4,000. It might with SOME
plausibility be urged as to someoef the
Furnace companies, that they lacked
means and experiepce,or that theyOOm1
menced operations at an ipaaSPicious
time. But in this case ofthe Gods OPP
Grating Diamond, all these matterswere
reversed. aot sdi morl j,Gd E.3'eihor
| l have some still stronger evidence
to produce, tOproye that the mapltac-
ture of pig-iron 10 Jackson county, ia
ken as a,wholel as, well as in indiNid-
ual cases, is not a very profitable busi-
ness. log Jr shGai gao gsbnn nsy.D
| 1t is not agreeable to me to be com
PEELED to record these facts. Iiwisb ]
could induce more capitalists to invest
in the business, by showing that it PAYS
but the truth is always best.
| !