Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1880-09-04
rhe FACTORY question.


An important meeting was held
in the Franklin Bank on Tuesday
and Wednesday evenings. The pur-
pose in view was the establishment
Of cotton factory in the city. The
gentlemen present, most of whom
took part in the discussion, were:
Messrs. A. G. Goodlett, w. S. Poin-
dexter, A. Howell, l.. Bloch, w. d.
Meriwether, G.. Cooke, Capt. Daniel,
B. w. Macrae, r. b. Rossington,
Dan. Gold, J. G. Joseph and the ed
itors of the Tobacco Leaf and
CHRONICLE. Most ofthe gentlemen
present were apparently very much
in earnest about carrying out the
enterprise, and the only difference
was about how to go to work.
Mr.. Meriwether thought it would
be better to begin on a small scale.
He said that we none of US knew
much about a factory, and if we
employed an expert to superintend
it, his salary would eat up so much
of the profits as to leave little mar
gin for dividends. 1t would take
some time for us to run it ourselves
with profit, and the investments
ought to be such as would not entail
heavy losses on anyone if it Should
at first not be found profitable.
Mr.. George Cooke thought that
there was a way of getting efficient
management for such concern
without much expenditure in salary.
He said that in the eastern cities
there are men who have had mode
rate capital invested in such estab-
lishments, bu: who had been
crowded out by vast joint stock
companies, and that such men could
frequently be found who were de-
sirous of investing their capital and
knowledge where smaller establish
ments were possible. BY inducing
such a man to invest considerably
in an establishment, the benefit of
his experience could be obtained,
his remuneration being mainly de-
rived from the profits ON his stock.
Such an arrangement would have
the advantage of securing the super
vision of a man who would be di-
rectly interested in the success of
the undertaking, and who would be
thus Il more trustworthy manager
than g. mere salaried foreman.
Mr.. l.. Bloch, from information
in his hands, was satisfied that
concern could not be made to pay
which ran less than 1000 spindles,
which implied capital of at least
100000.
Mr.. GOodlett said that all these
things were matters for a board of
directors to enquire into, and urged
that a charter be drafted and applied
for and body of incorporates
carefully selected. He read the act
under which it was enacted, that,
i'm this state, such establishments
should be chartered by the state.
Capt. Daniel (who came in late)
took the same view and said that it
was futile to try to get men to invest
in such a company unless they saw
that somebody really had hold of it
and was working it. He moved
that we go into the election of
temporary chairman, and nOmi-
mated Mr.. Goodlett for that Office.
This was carried and Mr.. GoQdlett
elected.
DIR. Wright then moved that Mr..
Ingram be appointed secretary,
which was also carried unanimously,
Then DIR. Wright moved that q
committee consisting of Messrs.
GOOdlett, POindeXter, Howell, Dan
iel and Bloch be appointed to draft
charter and put the whole matter
in shape to be presented to an adj
jOurned meeting.
This motion was carried and the
committee appointed.
Itwas then moved that when the
meeting adjourned IL should be done
SO as to meet again on the next day.
Wednesday, at p. m.
This being also carried, the meet
ing adjourned to that date.