The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1871-10-26
A New and Grand Enterprise for the
PeOple of Anderson County.

A number of influential citizens, believing
that it was desirable and practicable, and des-
tined to evolve much benefit to Anderson and
the surrounding country, have set on foot
project for the aggregation of capital to- some
purpose. 1t has been proposed to start steam
cotton mandatory at this place, with capital
stock of One Hundred and Fifty Thousand
Dollars. A careful examination has been made
into the relative cost of steam and water power
to operate mill on large scale, and the re-
suits obtained freaa various sources, thoroughly
convinced the gentlemen connected with the
inception Of this enterprise that the cost of
operating steam factory, located directly upon
the railroad would be equally as economical as
the location upon water at asaistance from rail
road COMMUNICATION. Indeed, the, statistics
presented for their consideration showed that q
large number Of steam factories were operated
side by side with the best and most advanta-
geously located mills in the Northern States,
and of course competing successfully and prof
itably with water power in its own immediate
vicinage. AS an example, we may state that
the mills at Falls River,o Massachusetts-the
leading manufacturing centre Of New England
at this time-number thirty-one of all kinds.
Twenty of this number are operated by
steam, while only eight are run by water.
After careful investigation of this subject, it
was determined to put the ball in motion for
the erection of steam factory at Anderson
G. 81. In accordance with this determination,
public meeting of the citizens was called on
last Saturday, to be held in the Court House,
that evening. The notice of such meeting did
not reach our citizens generally, but there was
o respectable sssemblage at the appointed hour,
showing an evident interest in the proposed
scheme at the very outset which augurs success.
Judge Murray was called to the Chair, and Mr..
VIM. Lee appointed Secretary. On behalf of
the gentleman who had originated and previ-
ously considered the plan, Hon. j. P. Reed
submitted their conclusions and suggestions,
together with mass of statistical information,
for the consideration of the meeting. A COM
mittee, embracing number of leading mer-
chants and business men, was raised for the
purpose of investigating the feasibility of the
proposed plan, and to them was referred the
papers presented. When the committee retired
for consultation, Maj. John E. Moore was called
upon to address the meeting, to which that
gentleman responded in an earnest, effective
speech, urging union of effort in building up
and developing the resources of our County,
and keeping pace with the progress of the age
by entering upon more diversified industry.
He was followed by Mr.. James A. Hoyt in an
effort particularly directed to the encourage
ment of unity in purpose and sentiment, to
achieve the grand results likely to follow by the
establishment of an extensive factory at this
point. His speech was interrupted by the re-
turn of the committee, who reported through
their Chairman, B. F. Crayton, Esq.
The report of the committee endorses the
scheme suggested, and recommends that an or
ganization be effected under the name and style
of the peoples Manufacturing Company -
that its capital stock be placed at $15O,OOO (;
that the shares be placed at S25 each that
Commissioners be appointed throughout the
County to solicit subscriptions of stock, return
able within thirty days to Messrs o. II. P.
FAINT, N. K. Sullivan and w. s. Sharpe as
Trustees for the stockholders; that the Compa-
ny be organized when it is ascertained that the
sum of $4,000 has been subscribed that
twenty per cent of the stock be made payable
upon the organization, and twenty per cent
every sixty days thereafter until the whole
amount subscribed by each individual is paid
in to the Trustees aforesaid; that each share be
entitled TO one vote at the organization of the
Company, and at every subsequent election; ;
that the officers consist of President and five
Directors.
These are the principal points embraced in
the report, which was unanimously adopted.
We regret that it is not In our power, for want
of space, to present the proceedings in full to
our readers this week, but this mere outline win
suffice to show the extensive eof the en-
tefprise now suggested. We will remark, in
this connection, that IL Is the design of the
projectors that the goods manufactured here
will not only embrace the finest and coarsest
yarns, but the making Of cloths similar to those
of Graniteville shirtings and sheetings.
The people of Anderson County have an, op-
portunity of uniting their capital in this enter
prise, which not only looks to an additional
profit upon the raw material raised in our midst,
but to tho fostering and development of an in
dustry that will prove the entering wedge to
progress in the right direction. Ali must be
aware that there is large amount Of idle cap
ital among the farmers of this section. The
successful cotton crops of the last three years
have added materially to the wealth and
strength of this people. True, the amounts
saved annually have not been very large, nor
are they confined to few favored individuals.
The profits of farming and other industries