The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-08-28
PUBLIC MEETING. pursuance of
the call of DR.. Parker. the citizena mat


at the Court House last evening, to en-
terrain the offer OF the Messrs. Sprague
to form joint stock company to build
factories on the Columbia Canal.
DIR. Parker called the meeting to or
der, and explained its purport.
j. G. Marshall was appointed Secrc.
tary.
Col. Pearce stated Messrs Spragus's
offer to the citizens, as follows:
The Columbia Water Power Company
propose to increase their capital stock
| to $3.50, 900. The present stockholders
to put in the Whole property Of the
company and take therefor 1926, 900 of
the stock. This stock to be issued to
them on the day the new organization
is formed or subscriptions are made.
The money raised from the sale of new
stock to be expended In building dam,
mill and tenement houses and in paying
the necessary expenses OF the company.
The assessment on the new stock to be
due on the day OF subscription and
interest to be charged on all unpaid
assessments. The assessments OF pay
ments to be made as follows, viz:
Fifteen per cent. down. balance to be
paid in monthly installments of ten per
cent. per month. They also propose
that there be five directors. three In Co.
iumbia and two in Rhode Island; one
OF the Columbia directors to be Vice.
President OF the company; Senator
Sprague to be President.
Col. McA1aster endorsed the propos:
tion wsrmly, and thereupon offered the
following resolutions, which Mr.. S. 3.
Thompson seconded, with q strong
speech in favor of going in with Messrs.
Sprague to build the factories:
Whereas the citizens of Columbia
have heard with pleasure from Colonel
Samuel A. Pearce, agent Of the Colum-
bia Water Power Company, that the
Messrs. Sprague propose the formation
of joint stock company, for the pur-
pose of speedily utilizing the water
power OF the Congaree Eiver; and 70
this end they will put in as part capital
stock all their lands in and about the
city, and all their rights. privileges and
franchises in the canal, at tho assessed
sum of 1926, 900, and the citizens of
Columbia are invited to subscribe an
equal amount in cash; and when q rea.
sonablo sum is subscribed, the company
will organize, with Mr.. Wm. Sprague
as its President, and az soon as practi-
cable take steps to build dam across
the Congaree, to enlarge the canal and
establish factory in Columbia of Is, 900
spiudles; aud whereas we consider the
present offer of the Messrs. Sprague as
fine opportunity for the citizens Of
Columbia to cooperate with them in
developing the magnificent water power
OF our river. to which for years we have
looked as source Of future wealth and
prosperity to our oity and State; there.
fore, be it
ResolOed. That this meeting heartily
approve the proposition made by the
Messrs. Sprague, and hail it rs propi-
tious omen OF rapid prosperity and
growth OF our beautiful city, and ear.
nestly request our fellow. citizens to
contribute according to their ability to
this great enterprise. in the success of
which the whole State is deeply inte-
rested.
Resolred. That q committee of three
from each ward be appointed to canvass
their wards and solicit subscriptions,
and to report at an adjourned meeting,
to be held Wednesday next, at this
place.
The committees to be appointed
under the foregoing resolutions will be
announced in to-morrOw's PHOENIX.
The resolutions met with warm sup
port and an equally strong opposition,
but were finally adopted, with few
dissenting voices, when the meeting
adjourned.
Previous to adjournment, Col. Nc.
Master stated that the object was not to
conhne the enterprise to the city OF Co.
lumbia, but that books of subscription
would be opened throughout the State.
|
WANTED Active and reliable young
men, to canvass the city and surround
ing country for the Singer Sewing Ma
chine. Liberal inducements offered.
Call Mt the Singer Office, Main street.
The SINGER MASUrAcrrra CO.
J. P. L1aoN, Agent.
COLUMBIA. August 26, 1873.
HOTEL ARRIVALS, August 81, 1S1.3.-
Wheeler H1use-L G Patterson, Ke,
shaw; " A Wardlaw, VIM Dudley
Charleston; d II Pattie, C 3 Hills, G 81
brown. Baltimore; " S Hand, T S
Clarhson, Charlotte; II McDeyitt, F
\ Belanger, Edgefeld; Chas FIanner,
Chas Marsh, Wilmington; c P Hemp
! hill Chaster. & y Draft onI 1-;fo Co..