The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1882-01-26
The Time for Action.

W z oSO iul AdScb anu luCSOA bptiuklug up Ill
around US and sending their vitalizing influ-
ences throughout all the qualifications Of trade,
whilst we stand sup:nely and allow the golden
opportunities to slip by without any real effort
to take advantage OF them. That Staunton
cannot expect to grow and prosper without
some wealth producing agencies IN her midst,
is admitted by all who have given moments
thought to the future. It is well recognized
fact that every cent Is now squeezed out of the
trade that centers here. Indeed, there is al
ready too much business for the foundation
upon which it rests. Our merchants are pro-
verbally shrewd, yet with all of their tact and
capacity they are forced to operate ON the
shortest Of margins. and content themselves
resources upon which they draw are those Of
agriculture and none other. To be sure some
of our enterprising firms are reaching out
along the lines of the railroads and supplying
contractors and furnaces with goods. But
this is class of trade which cannot be relied
on for permanency, and the benefits flowing
from it are absorbed by the larger concerns,
carrying heavy stocks and selling at wholesale
prices. To become prosperous and progress
i've community, there must be some wealth
creating resource in our midst. The only
avenue to growth and commercial Importance
is through the door of manufactures. All
through the State and all through the South
the business men are awaking to realization
g Eant ntI,. N t,1yi ol,
every favored locality to secure the establish
ment of manufacturing industries. Danville
has just started a large cotton mandatory !;
Wytheville is preparing to establish rolling
mills; Lynchburg and Richmond have already
invested much of their capital and enterprise
IN manufactures, and are still further reaching
out, whilst other localities are bringing wealth
to the community and ditfusing prosperity
throughout all classes of society, by convert
ing the raw material about them into market
ty. There Mr.. Mumaw, an enterprising farm
er, has within few years accumulated for
tune by the sale Of canned vegetables and
fruits. Hundreds of hands are employed
about the various branches of his establish
ment, and tens of thousands of dollars are
annually dispensed throughout the neghbor-
hood. But little capital was required to start
this concern, and 1t was regarded at first as
rather small business. From the very be-
ginning, however. it proved success The
reasons for that success were these: Unpro-
ductive material was put into such shape that
a ready market WAS found for it, and business
capacity and enterprise were thrown into the
management. In this county half dozen
such industries could be started and every one
of them would prove profitable. Not only
this, but there are dozens of other manufac-
turtles which would require but compare
lively small amount Of capital to start them,
and would yield rich return A paper mill !;
a woelen mill; shoe factory; spoke and
stave factory; broom factory; bucket fac
tory; fertilizing mandatory; steam tan
Eery and numerous others that could be men
toned
Aboye ALL Staunton should he the seat of
the iron product of Virginia. The advantages
1T possesses for the establishment of rolling
mills have been SO often adverted to in these
columns that we need not again enumerate
them. 1t is prominently well suited for such
industries, and now is the time to take steps
for their securement. Let our own business
men take the matter in hand and start the
ball. FIVE hundred thousand dollars ought to
be raised in Staunton and Augusta county
within week. There is a large quantity of
idle capital here that should be utilized, and 10
no way can it be more profitably employed
than in bringing together the iron and coal
contiguous to this place, and reducing them
to marketable shape The example OF Georgia
should not fail to incite u.s. In that State by
the establishment Of cotton factories new
life and prosperity have been infused into the
people, and on every side wealth producing
enterprises are springing into existence. They
had the raw material there just as we have it
here. though in another form, and the business
men and capitalists set to work themselves to
reap their own harvests. And they have done
it. A circular recently issued by banking
the operation of cotton factories for the year
just closed, which are we'll worth the careful
study Of our business men. They show what
has been done there and what can he done
here if the proper effort is put forth.
During the year 1881 the Augusta factory,
with capital of $500, 900, declared cash divi-
dends aggregating 10 per cent and passed the
same amount to the surplus fund. The stock
is held at $170 per share. The Graniteville
factory, with a capital of 100000, also paid
ten per cent. dividends in cash and passed ten
per cent to the surplus fund; its stock is also
held at $170 per share. The Langley Compa-
ny, with capital of 100000. paid dividend
of s per cent. for the six months ended June
30, and will pay an per cent. dividend for
the six months ended Dec. 80; all of the earn
ings is paid TO the stockholders, and the stock
is held at $3.50 per share. The Enterprise
Company, with capital OF $500. 900, has just
added 50 per cent. to its capital stock; it made
10 per cent. divided in cash for 1881. The Sibley
Company, with capital of 100000, and the
John P. King Company, with a capital of ST.
100000, will soon be IN operation, and their
stock is already considerably above par.
When iron can be manufactured 20 per cent.
cheaper in Virginia than in Pennsylvania as
has been proved by actual test, it does seem
within the bounds of reason to say that the
profits of the Georgia factories could be more
than equalled in Stanton if united and real
effort were made to secure the iron plants.
Establish one mandatory and others will
soon cluster around it. And now is the time
to make the first step. The year 1882 will in
measure determine the future OF Stanton
for decade or two. Some actual work must
be done this year in the direction we have in
dicated, or else We might as well abandon the
fair promise of the town for years to come.
There are millions Of dollars seeking invest
ment now which will be located ele another
twelve months. and in competition with the
activity OF other communities. we stand but
little chance of securing our proportion, I'M
less something arouses us to the Importance of
reaching after il.
An Example for Staunton.
Lynchburg is already manufacturing city.
Hundreds of thousands of dollars are annually
brought to that place from the sale Of manu-
featured tobacco. But I.ynchburg has wis
dom enough to know that it cannot rest its
hopes for the future on single industry. A