The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1873-09-24
Tue Water Power COMPANY.

The committee appointed SC solicit
subscriptions have issued tho follow.
ing circular:
70 the people orthe State:
At a meeting cf the citizens of Co
lumbia held August 27, 1879, tho
Nle>srs. Spraguo proposed to the citi.
zcs of Columbia to form joint stock
company, with Il capital stock of
SG5O,00o. The Columbia Water
PoScr Company to contribute all its
real and personal property, its rights,
franchises, &c., at tho assessed sum of
$3:5,OO0. The citizens of tho State
to oontributc ia cash tho same amount
in ,harcs ofSl0o each. As soou o.
n reasonable sum is raised, tho COM
paay to be organized with Mr.. Will
liam Spraguo MS its president, fifteen
pei cent Of tho subscribed stock to
be paid at tho organization of the
company and tho balance III monthly
ins,alments of ten per cent. yhe sum
this lnincd to he expended il build
ing tho dam across tho Cougarco, in
erecting a mill for $4,000 spindlcs
-"a = -" rrnu"m,rtr
Resolutions of approval Mero p.se
ca by tho' meeting, and DR.. j. W.
Parker, tho chairman, appointed Il
committee to CANVASS tho city and
solicit subscriptions. The commit.
tee is as follows, viz: L. W. MoMas,
ter, w. 3. Nash, j. Ouitman Mar.
shall, Joseph Taylor, William Low.
rance, ". IL. ,Ly Grand, J. NJ. Craw
ford, j. y. Sloan, Sr., C. A Darling
Il. ID. Sem, S. B. Thompson, x,
Cooper.
Tho sum thus far ruhscribcd
amounts to $40, 900, which the com,
mi:tce hope speedily to increase with
in the limits OF tho city. Being i'm.
prcssod by the Importance of the en-.
terprisc, not only to Cvlumbia. but to
the whole. State, they respectfully
solicit subscriptions to this great
work from all parts of tho State.
The commltteo believe tho pronoai-
tien of tho Mossrs. Sprague offers an
advantage to Columbia not cnjoyed
by any city at the South.
The superior facilities for factors
fo' cotton yarns ut the South hayo
been frequently commented upon by
the press and ii!ustracd by the sue.
CESS of those who havo ongaycd in
thom. Tho special advantages of tho
present project are as follows
J. The water power at Columbia
is greater than in any city in the
Atlantic States and this power can
bo utilized at comparatively small
expense.
2. All tho mill sites on the Coma.
REQ in proximity Of tho canal bo,cnn
to the Columbia Wator Power Com.
pany, which, with other lands, amount
to about 10 aorcs in tho corperatc
limits of tho city, all of which will
greatly advance in yaiuo as soon Az n
factory is erected.
3. Tho pcoplc of the State in this
enterprise will gain tho co.opcraticp
Of tho Mcssrs. Spraguo, who arc
amongst tho largest manufacturers
in the North, which Of itself will ii.
suro its success.
4. The great want Of capital ut tho
South is the prime cause OF tho fail.
ufo of many joint stock compa MES
which havo been started since the
war. In this enterprise We have as a
basis the property Of tho Columbia
Water Power Company, on which
$2OO,OOO has bcoU e-pendcd--a
creator sum of monoy than has been
invested in any Southern State by
any Northern firm since the war.
D. The great experience Of tho
Mossrs. Sprague in cotton factories
argues a success for this project equal
to any factory in the South.
Tho nero fact Of Governor Spropuc
acting as prosidont of tho companv
will add to its credit.
Tho city of Augusta, which is
similarly situated With Columbia.
aroused to the necessity of cnlsrpinD
her industrial resources, has coutribno.
ted 5000, 900 to build her canal eyor n
space Of seven miles, aud at this limo