The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1881-04-01
The Columbia Water Power.

According to promise we publish the circular
issued by the Executive Committee OF the CO.
lumbia and Lexington Water Po yer Company.
The Circular no doubt sets forth the aims pur-
poses and prospects of the Company with sulii.
cicnt cxplictness to satisfy the Committee and
the people OF Columbia; but. like the advertise
ment, it leaves outsiders still in doubt whether
the money they are asked to invest will be ex-
pended in merely developing a magnificent wa
ter power for capitalists to rent and build facto-
ries upon, or in building n factory. The very
large amount required, ns appears from the cir
cular, before the power can be made at oil
available $500, ,OOO) is calculated to so startle
any man in South Carolina who has 81 900 or
less which he would like to invest and the pros
pect for receiving any return so distant and
unreliable that fear there will be but little
enthusiasm created for the enterprise. We also
fear they have put their pegs too high-stareo
on too grand q scale. We think n little like Sen
ator Brown, ~ million dollars is 4 large amount
of money" We, however are pleased to see
that the committee consider the subscriptions
to the stock very encouraging. On Monday las,
Sill 800 had been subscribed and very "cncour
aging auflccS hau Dcen rccelScu from various
sections of the State"
That Columbia possesses greater advantages
than any other point in the South for Facto-
rics and industrial enterprises of almost every
character no one, who is at all acquainted with
her central location, her railroad facilities, her
magnificent and never failing water power, her
! unsurpassed health and beauty, will doubt for a
| 4 Ia hat ll,,
| it will be the great manufacturing centre Of
| the Cotton States. What we wish to see is
| the people of the State securing to themselves
| all the benefits Of these natural advantages, by
| judicious and careful investment of their cap
ital IN developing them We have no million
aires among our citizens, and cannot afford to en-
gage in magnificent schemes Ofenterprise, howcv-
certain success may appear to be in the distant
future Exp .ricncc has taught Us the fact that
all grand enterprises in this State, established
| by the voluntary subscriptions of our citizens,
are sold out by the Sheriff or i'll some other way
| fall into foreign hands-at about onct tenth OF
their cost-the people who built them losing
every dollar of the money invested. We have
| lost all faith in grand schemes" in which the
! people callcl on to invest their money Jo'
tie pu6iic good. We repeat, the Columbia ant
Lexington Water Power is too grand aul cx
tcnsivc scale. If they viii! call for $500 00I
or $500, 900 to build Cotton Factory, there vii
DC no trouble about their getting it. They has
better so back to the modest purpose imitia
ted under Mr.. Holly. That will insure success
and with success will come confidence an'
with confidence they can command an.
amount of capital. We like the way the Char
lesion people have gone to work to build Cot
ton Factory to bc run Gy steam. Before the
dam of the Columbia and Lexington Water Powe
is built, as now proposed, the Charleston Fac
tory will be raying handsome dividends to il;
| stockholders.