Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1873-04-03

To.a. l,rA,a4lbs Average, 90 s2-lo". .sa5a,a>' :
We commenced the year without any
commercial capital. and for the want OF i
we had out our paper IN New York, at
one time last fall, foT Sl75000 On tht
18th OF Au.ust, we had accumulated Owe,
1000 bales Of goods. They were sole
without p-otit in money, but procured IL
GOOD customers. Since the 10th OF Octo-
Der last. there has been no day but whai
we have had more orders on hand. thar
aeds ". have sold as much as six week,
sLeal ard TO day it will take US full,
three weeks to manufacture the goods {
complete our saes. | reduced our bill.
psysble from $4,000 10 $4,000 within
ihe past six months. and have purchaset'
all the cotton required, beside, from pro
ceeds OF sales OF goods. Last week, there
being sudden breakdown in cotton,
stocked no some and have increased there
,.v cur discount $1,000 We have OF
hand to dsy 50l ba1es cotton, at an aver
age cost ofl7S 100 cents per ID. From
actual date | have given YOU the cut tnrl
ct 1872. For the first quarter Of lort
have made q careful estimate, anu sia''
without tioabt that we shall pay the in
tcr,st OF money borrowed, and make fl
tbe three months not less than SIX pei
cent. or cur capital. We have laborec
nnder disadvantages ior the want OF i
yorkins cas!. capital. Hence, | do moi
recommend any dividend; but II no I'm
ioreseen misfortune ovcrtakes lis. thlnt
we can coinnence quarterly dividend IL!
July OF y per cent, and continue at THAI
untll we realize . commercltl capital ade-
1ua,c ior our requirements
Du.ng toe vear there have been erected
in our village Is houses, Of all KINDS. Oul
jnhabi,an;s nave increased. ana the popu.
i.:ion /, :ow al,,nt 500 y free sciIoo.
las beui. .siaol:.ie.i. and the average at.
tendance Is about GD
Our vale. power, owing 10 loss Of DAM
has been expensive. We now lave abou.
is feet bead. and IRON Close observation.
81 believe it strong,-sad apprehend no dan,
ser Of It's giving way. am also saiistlee
that by putting IN strictly first clas'
wi,ecls, wc save ample power to drive It.
much NOR. machinery as We now have
have ai.r,:,ly ordered Is new io.as, ::
oi wiica have arrived and now in opera
ton.
by avaIiin.: ourselves OF all the powel
we nave. aa4 doubling our machinery
we can t.,,~raie relatively at "a less COS; q
produc':ta man nov.
would therefor recommend that vou
.r:hUrl2. the Directors TO increase Gu.
capital STOCK, when they deem 1t exped,
en;. u such IN amount as viii he necessa
rv to eaat.r Us 10 USE all the power We
have. ara that when said increased capi
=. il c..!i,.d for. notice shall be given in al
least ore paper Published in Augusta an(
,ae in Charleston. and that the siockho-
,ic,s shall nave the privilege, for th:r;,
DAYS. after i.rst publication. Of subscribin;
for said increased stock pro rata, and i
not taken By them, then to be assigned 4
such subscribers as are not stockholders
or disposed Of as tue Directors may deem
lest. nluypiing th- Legislature will civ,
u- ali eyelnpt;ru from taX?tlor for { tern
of Years, as offered b; the nelghhornc
State OF Georgia.
ne Wc.kiIG u tlc I.i!Il l.ttS Oe"H NVIN
satisfactory, sndlt affords me plea ure t
state that rnder the supervision Of our at
,ent;ye ai:l efficient Superintendent, Nj
n. 7. Foster, tie production Of the mi
has been steadily increased. The EN-
ployees ni tho company have each, il
iheir respective position. contributed e
whatever success las been accomplished
Respectfully,
VIZ. c. SlBLEY,
President.
On motion. the report was received AID
adopted.
Tie following ofiiccrs--all members o.
the old Board--were elected for the ensu
ing YER;
President-W. c. Sibley.
Directors-W C. LansIey, Josiah Sit
ley, Geo T. Jackson, Jas a. Gray. I. J.
Pelzer.
On motion, the meeting adjourned.
The report Of the President, as viii h
seen. exhioiti very gratifying conditi"l
ofafairs ior toe company, and demon
strates tu.y all that has been said in ia
vor Of The establishment o: nanu!aciur