The Portland daily press., 1889-01-02
FINANCIAL.
$4,000
CityWater Company,
CHATTANOOGA, TENNESSEE.
6 Per Cent. Sinking Fund Bonds.

The Farmers Loan s. Trust Company, New
York, is the Trustee, and interest ana principal
are payable at the Office Of that company.
These p0nds cover a substantial system OF wa
ter works. real estate valued at over S2OO,OoO.
and an actual cash income Of 500 900 per annum.
The Co bpany has teo sources Of supply one by
grayita'ion from mountain springs, the other
from the Tennessee River.
The income Of the Company Is months ago was
about S5O,u00, for 1889 II will exceed 100000.
The interest charges and operating expenses
will aggregate s67 600 leaving surplus OF $685.
600
Chattanooga is situated on the Tennessee River,
and is surrounded by territory yielding an al
most unlimited production Of coal, iron, timber,
grain and cotton. Eight lines OF railways center
there, and Union Belt Railway enclrcles the
city. These railways send out 20 passenger and
so freight trains daily and, together with the
Tennessee River, afford communication by rail
and water excelled by few cities In the United
States
The population IL 1880 was under 1900 and
70 n0lc about Al, 900.
MANUFACTURES.
IRON AND Street.-The yearly output Of iron
In the Chattanooga district Is nearly 100000
tons, worth some S4.0000OO.
There are blast furnaces, rolling mills, iron,
brass and stove foundrleS, spike mills, boiler
works, machine shops, east Iron pipe works,
wrought iron pipe works, Bessemer steel works,
barbed-wlre factory, iron fence company, saw
works, pillow works, and other II on and steel man
ufacturing concerns, representing In this business
total capital of over S3,000,O0O, furnished by
American, Scotch and English investors.
LUMBER.-There are 3 saw mills, that cut st.
oO0,00O feet OF lumber in one year; 9 planning
mills, that used o., o0O, Ou0 f. Of sawed umEer In
this city the largest manufacturer of furniture in
the South.
GRAIN, COTTON AND FRUIr.-There are z
Touring and grist mills, grain. elevators, large
warehouses, cotton factory and compress mil.
The State Agricultural Bureua report shows that
ally 40 600, 900 bushels Of wheat, corn and oats,
100 900 tons Of hay, 900. 90 pounds Of cotton,
S3 600 900 worth Of fruit, and support over S37,
OTHER MANUFACTURES.
There are the largest tanneries in the United
states, The Tennessee marble works, Driek-mak-
ing companies, paint factories, tile works, terra
Gotta works, IRE brick works, fruit canning fac
| tories.
There are lis concerns using steam power
representing an investment OF S5,8OUOO0, EN-
| ploylng 1000 hands, with yearly production OF
nearly SS,OO0,OOO Their productions go over
the United States, North, South, East and West
| The city Is also large distributor OF groceries
and dry goods, and at the close of 1886 the CAPT
tai invested in the wholesale business amounted
to over 100000.
| FINANCE.
Taxable valuation s13, 100000.
Debt less than per cent. OF taxable valuation
| The ity can issue no bonds without authority
from the state legislature which must iurtnel
be ratined by three tourths vote OF the people.
ADVANTAGES.
The supreme requisites for fiourishing indus
Cheap coal, iron and labor-for manufac
/ lures.
2-Cheap transportation by railway and wa
| terror freghts.
| 3-Lighr municipal debt and low taxes.
1 When, In addition, a city Is surrendered by
/ fine tributary timber and agricultural country
1 possesses all the requisites and advantages tina
insure the greatest prosperity and growth, land
all OF these are possessed by Chattanooga.
4 These exhaustless beds OF coal and iron. ant
| almost limitless forests Of the best varieties o
timber, assure the future prosperity of this par
i OF the country and capital Is pouring South TO
its development In all branches of manufacture
| there Is activity and progress.
The bonds OF this water company have beef
| taken for Insurance Companies, Savings Banks
| Estat. s, and o her trust fund Investments.
In addition 10 the security already specified
these bonds are guaranteed principal and inter
| est.