The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-09-12
TO ths. s.psopisSo OF tho state.

TO the 'psOptsSof tho State. 4
At q meeting OF the citizens OF Co.
lnmbisss held ,Auguet .27, lists, the
Mossrs. Sprague proposed 10 the eiG-'
1enS Of Columbia to form o Joint stock
company, with 8 capital stock OF $500 ;
fO00Lthe Columbia Water Power Com.
pany to contribute all its real and per-
sonal property, its rights, franchises,
&c., at the assessed sum of 1896, 600;
the ,oitizens of the State to contribute in
cash the Same amount in shares Of 500
each. As soon "a reasonable sum is
raised, the company to be organized,' Z
with Mr.. Wm. Sprague as it's President;
fifteen per cent. of tho subscribed stock
to be paid at the organization Of the
company, aud the balance in monthly
installments of ten per cent. The sum
thus raised to be expended in building
the dam across the Congaree, iu erect
ing mill for $1,000 spindles, and in
other improvements. Resolutions Of
approval were passed by the meeting,
and DR.. j. w. Parker, tho Chairman,
appointed committee to canvass the
city and solicit subscriptions. The COM
mittee is as follows. viz: +. w. McMas-
ltey, j. NJ. Crawford, W. B. Nash, J. T.
Sloan. Sr., J. Quitman Marshall. &. a.
Darling, Joseph Taylor, Il. d. Sem,
Wm. Lowrance, s. B. Thompson. w.
H. LyBrand.
The sum thus fur subscribed amounts
to about $40, 900, which the committee
hope speedily to increase ithin the
limits of the city. Being impressed by
the immense Importance Of the enter
prise, not only to Columbia, but to the
whole State, they respectfully solicit
subscriptions to this great work from all
portions Of the State. The committee
believe the proposition Of the Messrs.
| Sprague offers an advantage to Colum-
bia not enjoyed by any city ut the
South. The superior facilities of facto
rles for cotton yarns ut the South have
been frequently commented on by tho
press, and illustrated by the success Of
those who have engaged in them. The
special advantages Of the present pro.
ject ure as follows:
l. Tho water power at Columbia is
greater than in ANY city in the Atlantic
States, and this power can be utilized at
comparatively small expense
2. All tho mill sites on the Congarce
in proximity of tho canal belong to the
Columbia Water Power Company,
which, with other lands, amount to
about Ito acres in the corporate limits
of the city; all OF Which will greatly ad-
vance in value as soon rs u factory is
erected.
3. The people of the Stute, in this on
tcrprise, will gain the corporation of
the Messrs. Sprngue. who arc amongst
tho largest manufacturers IN tile world,
which of itself will insure its success
4. The great want Of capitul ut the
South is the prime cause of the failure
of many joint stock companies which
have been started since the war. In
| this enterprise, we have, az Il basis, the
property Of the Columbia Water Power
Company, on which 5000, 0OO has been
expended-a greater sum of money than
has been invested in my Southern State
by any Northern firm since the war
5. The great experience of the Mcssrs.
Sprague III cotton factories augnrs u
success for this project equal to any fac
tory in the South. The mere fact OF
Gov. Sprague ucting ns President of the
Company will add to it's credit.
The city of Augusta, which is SINH
larly situated with Columbia, aroused 10
the necessity Of enlarging her industrial
resources, has contributed $780, 900 to
bnld her canal over u space of seven
miles; and at this very time, there is an
agent III England. endeavoring to in.
duce capitalists to invest there. at Co
lumbia, We have the water power at
hand, and can use it without au ex-
tended canal; and the capital equal to
the amount raised here is offered with.
out our solicitation.
| The committee cordially appreciate
the proffer Of the Messrs. Sprngue, and
ii it is heartily endorsed by the citizens
of the State. they feel assured that in u
few years the city of Columbia will
spring forward in the race Of prosperity
with other cities Of the Sonth She
is now SO circumvcntcd by railroads that
unless an effort is made to enlarge her
resources by factories. her future pros
pcrity cannot be rapid. The rise Of
inctorics in her midst will be tho in
crease OF her population and wealth.
To all who feel deep interest in the
welfare OF onr beautiful city and the
| prosperity OF our impoverished State,
we earnestly appeal We invite NIL who
can subscribe even single share Of
SlOO III tho company. 10 lend us 4 help,
ing hand. Let us neet IN lraternnl
kindncss the proposition made by these
Northern gentlemen, aud it will do more
to create peace, to produce harmony,