The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1874-07-30
STOCKHOLDERS MEETING.

A meeting of the stockholders of the High
Shoals Factory convened at High Shoals on
Saturday last, the 25th inst. Quite number
of gentlemen from town, and from various
parts Of the County, were present, all much
interested in the projected enterprise. At
about IL o'clock, all parties assembled in the
Mill, when the meeting was called to order by
the President, Maj. John B. Moore. On mo-
ton of DR.. J. T. McFall, Capt. James A. Hoyt
and E. B. Murray, ESQ.,, were requested to act
as Secretaries.
Mai Moore then addressed the meeting,
stating that this enterprise had been on foot
nearly one year-that at the first meeting things
looked very favorable, but since, owing to va
rying circumstances, subscriptions came in
slowly that the people of this and adjoining
Counties did not seem to manifest the same de-
gree of interest now that they did at the time
the enterprise was first projected; that the men
engaged in this work were good and true men,
and insured it success in the future by their
earnest endeavors and untiring zeal; that the
average pay of factories in this State was about
20 per cent, insuring to all those engaged in
that business profit which they could not de-
cotton was raised in the vicinity Of High
Shoals to keep the factory, should it be built
constantly working; that there was great
amount of money lying idle in Anderson
County which might well be applied to yuanu-
featuring purposes.
At the request Of the President, Maj. Thos.
B. Lee gave report Of his survey of the
Shoals, which was very satisfactory. He said
that the stream, measured at low water stage,
yielded 26O0 cubic feet of water per minute;
that the total fall from the ford to the foot Of
the falls was "a is feet-about 5000 horsepower
to the foot that the power might be increased
by drawing down two feet Of the pond above
the fall every day for twelve hours. He went
on to state, further, the advantages Of the loca-
ton, and the benefits to be derived from fac
tory at that point.
Capt. James A. Hoyt being next called upon,
said that after the war he became confident that
this was destined to be one of the most prosper
Gus sections of the up-country; that he always
believed in manufactures, knowing that such
would benefit the people; that he always
through his paper advocated the commence
ment of such enterprises, and did his best on
every occasion to bring before the people the
necessity Of taking the proper steps to bring
about such action that he believed in control
ing our own water-powers, and since such en-
terprises as the one in projection were free from
taxation, so much the better for the interests of
all concerned; that as so little had to be raised
to commence the work, a committee should be
appointed to solicit subscriptions to the capital
stock.
Joseph Cox, ESQ.,, being next called upon,
said that it was the character of the people Of
South Carolina to wait too long before they
went into anything; that when they did go in
to it, it was with too great caution, and the
consequence was, the enterprise, whatever it
was, went on slowly; that when we got money
for our cotton, it had to go out of the country
for supplies; and that if we planted more
grain, and had q factory in our midst where we
might dispose of our cotton to advantage, the
money would remain in the country, and the
condition of the people bettered.
Gen. J. w. Harrison being called upon, said
that times change, and men naturally change
with them; that it was only few years ago
that coal was discovered in Pennsylvania;
that cotton was first raised in Egypt; that it
was shipped to England only few years ago,
because it could not be utilized in this country
that the time was coming when a small per
centage would be considered as great profit
by us, and that competition being the life of
trade, would naturally lead to success.
The following committee was then appoint
ed by the President to solicit subscriptions:
James A. Hoyt, Thos. B. Lee, W. A. McFall,
C. S. Beatty, c. S. Mattison, B. F. Duncan, T.
w. Martin, DR.. R. E. Thompson, j. w. Thomp-
son and E. B. Murray.
The President was elected chairman Of the
committee, and on motion Harry Gaillard was
added. The committee was requested to meet
in the Office of the President at Anderson Court
House, at II o'clock on Saleday next.
The instalments will be called in as follows
Ten per cent. at once, and ten per cent. in ad-
dition about December lst, and the remainder
during the next spring and summer. About
$25,0lO will be needed in the early spring to
order machinery.
The meeting then adjourned, subject to the
call of the President, and all parties left for
home.
THE CANTATA.