Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1882-07-21

3 because ne believed IL 20 De IOI
THE INTEREST OF SACRAMENTO.
This.city should be more largely a manufact-
uring center. To bring that about msnufact-
ures must be encouraged. All healthy bust
ness communities accumulate surplus of
wealth and als1 a surplus Of people. For
these, then, employment must be found. II
not, they must leave the place and portion
OF them viii turn to criminal life. 1t costs
| community more in that event than to estab-
/ fish industries where they can be employed.
/ Iu addition it should be remembered that the
establishment Of one large industry brings IL
/ the establishment Of another and another,
/ and thus manufacturing csnteIs grow de
! fsrred to the extent OF the railroad WORKS
/ here. and said that the Central Pacific Rail
ROAD Company now makes mora probably OF
the thicgs used By railroads than are made
a. any railroad works in the United States.
/ 1t has introduced new industries from time
to time, adding copper works, tin works;
! wheel works, etc, until It can now make all
thinzs l. usss. As . result, over 500 men
are employed by it in Sacramento. He had
/ felt some interest as a citizen in securing the
! Establishment u
The PROPOSED WORKS
! Ia Sacramento because he beieyed-yes. he
! llusy-.hey would be an eminent success.
/ This iron company wish t. establish steel
( casting works; they used additional capital.
/ The works are certain to be established either
/ here or at oakland. THe railroad company
would bs large customer Of such works.
It purchases Low of tine company largely OF
iron. The iron Clipper Cap has been tested
and found to be in every way superior. (he
stated the tests to which it had been sub
igcted.) 1t wsuld of necessity purchase
| largely Of steel castings, for the railroad men
| buy where they can buy TO the best advant-
age, OF course The truth is. we are enter
! ing apon the "stesl age row. Nearly all
| things now made of cast-iIOn will soon be
made Of caststeel. The demand for steel
castings
IS RAPIDLY INCREASING.
The demand indeed far exceeds the supply.
The demand is due to the fscs that the steel
is stronger and more durable than iron. A
casting of iron weighing twelve pounds, say.
can be replaced by one of steal just as strong
and more durable, that weighs but four
pounds. Now as to the proposition Of the
iron company. 1t asks Sacramento to take
G. 600 shares OF its stock. of the par value Of
500, st S2j per share, and if it does it agrees
TO erect here its steel casting works. This
Mr.. Watson had examined into, and salts
fed himself beyond all question that it was
an especially fiue investment, and he should
20 into it aud advise his friends to do 50, be-
cause he verify believed the investment
would appreciate 100 per &c 1t. in years
time or ltss-that is, stock now taken at SO
in less than year will he worth $50. The
Directors Of this company, whom he had So
licited to establish their steel casting works
here. were Egbert Judson, President; Geo.
w Glib, Vice-Prssident b. b. Redding,
A. P. Hotaling and Irving NJ. Scott, all of
San Francisco. He then read from
THE PROSPECTUS OF THE COMPANY.
Its mines are at Hotaling, Placer county.
The mines are practically inexhaustible. the
investors believe. The company was incor.
porated to utilize the iron deposits of the
coast, aad keep the money at home now an
nually sent to foreign countries TO purchase
pig iron, bar iron, plate iron, cut nails and
steel ingots. The supply of the raw material
is sure. Il is admitted to be the very best
kind of iron, and Is adopted st the Central
Pacific Railroad works in Sacramento after
the most exhaustive tests. The company has
expended for 7. 500 acres of land $50, 600 81
miles Of roads, S7,147 buildings at the
furnace, IS, 7S3; 20 patent kilns. of 10 cords
capacity each, $50 $50; blast furnace, $780,
$50 bridges, 81 700: bitches and reservoirs,
81. 10 dwellings, offices, stores, etc, ST. 53l;
opening Limestone ledge, $3.50; engines,
ETC., S26, $40; hosting engines, ETC.,
81, coo; vertical engine and shsfting, etc,
81, 137, and 80 on with other items, 1t has
ore On dump and at furnance 400 tons,
Sill $50 pig iron, 1.640 cons, S32, 500 II, $50
-cofds OF wood, $50 625; $1,000 bushels of
coal, s.. go, and with cash and other assets
and the amount expended for developing
shafts, the sum total OF SILL 6l5 is reached
for property
IMPROVED AND FULLY DEVELOPED.
The ore has been thoroughly tested, and all
doubt as to its quality is removed by the fact
that the best works in the State use its
product for their finest mechanism. Mr..
Watson here interpolsted on his reading that
the G. 2. r. r. shops have been using stead
lily 100 tons per month Of the iron, and that
it had proved to be Of most superior quality
the best indeed, and at least surpassed, if
at all, only by the Salisbury. He then read
an account of the tests made of tensile strain.
The prospectus of the company then went on
to show what the company desires to do F.: To
build track from the mines to Clipper Gap,
to cost SIS, 900; q tramwsy from the furnace
to kilns l, and 8, Sc, 600; to manufacture
acetate of lime OrpYrolignite OF lime, turpen-
tine, rusin, creosote, parafine and wood spir.
its, or methylic alcohol, from the distilled
vspors p-oducsd from the wood used in max
ing charcoal, the ssle of which products, in
other places, not only pays the cost of max
ing better quality of charcoal. by % per
cent, but yields a profit of 50 per cord of
wood used.
IN THE ABSENCE OF FACTORIES
Producing these articles on the coast,
market is already provided for theri, and this
plan will make saving in the production of
iron alone of IS per ton, to say nothing of
the product of the kilns; to purchase $4,000
acres of heavy timber for the manufacture of
patent charcoal and the chemicals; to erect
and maintain on 8 suitable location, at or
near San Francisco, a rolling mill, for bar
iron, and to roll nail plates for cut-nsil work,
the demand for which exists, as the importa-
ton annually Of hundreds Of thousands of
tons OF bar and sheet iron shows I; to erect and
maintain a cut-nail mill, to meet the require
ments Of this coast, where 246, 400 kegs are
annually imported, and not pound manu-
featured to erect and maintain steel works,
for the manufacture of steel ingots and steel
castings to maintain smelling furnaces ca
pable of producing the raw materials from
which to manufacture the several articles
above described, and to purchase iron ores,
etc.
TO CARRY OUT THIS PLAN
The company made its capital stock 50 675..
900, in 26, $50 shares of the par value of 500
each. OF these 10, 900 have been subscribed
for. and 10, 760 are offered to the public. OF
this it is asked that 5000 be taken by Oak
land or Sacramento, the stock to be delivered
on payment Of % per cent. OF the par value,
with the understanding that the steel castings
works be located at the place where the 900
shares are taken.
Mr.. Watson added that there is no question
as to the market for steel. California buys
now at Pittsburg at from to % cents. 1t
can be made here at cents. Imagine all the
uses to which cast-iron is put, and it can be
supplanted by steel, and is being done as fast
as the steel can be furnished, and would be
for wrought iron if it possible to get it.
He then read q confidential letter setting
forth the cost OF producing iron pigs
and the profit thereon, the cost of
their transformation into steel and the prs6t
therein. These exhibits wsre very tiattering.
II had been estimated that five per cent. of
railway rails ara lost annually, and that re-
ouires $50 miles and more of steel rail per
year on the 600 miles Of railroad of the two
leading roads alone, and it takes q little over
100 tons to the mile. He believed the rail.
road company could make steel rails here and
save Sl50,000 a year, and give employment
to many men and boys beside.
| oAKLANDIs AFTER THE WORKS.
He read an extended report of meeting of
business men there on this subject, where the
whole matter was elaborated, and at when
Irving NJ. Scott made an address and favored
locating at Oakland, but admitted that the
advantages Of Sacramento were such that IL
was simply question as to which town hrst
takes up the offer of the company. Mr.. Wat.
son pointed out that on the simple question OF
trangporta ion it was easier to bring one ton
of coke here than to ship eight tons of ore to
Oakland, one ton of coke being needed to
each eight tons Of ore. The speaker was
asked various questions by Mr.. Block, Mr..
Gallatin, Mr.. McClatchy, Mr.. Lewis, Mr.
Weinstock, Mr.. Rideout and Mr.. Stetfens,
manufacture Of the ste j proposed to be made
in the works explained that the terms OF
subscription are 10 per cent. on demand, III
per cent. in one month, 10 per cent. IN two
| month";. 10 per cent. in three months. 20 per