The Portland daily press., 1889-01-05
$15O,OOO
City Water Company,
CHATTANOOGA, TENNESSEE.
6 Per Cent. Sinking Fund Bonds.

-
The Farmers Loan g. Trust Company, New
York, is the Trustee. and interest ana principal
are payable at the Office OF that company.
These bonds cover substantial system OF wa
ter works, real estate valued at over 100000.
and an actual cash income OF 5000 per annum
The Company has two sources Of supply, one by
grayitaiion from mountain springs, the other
from the Tennessee River.
The income of the Company IL months ago was
about $4,000, for 1889 It will exceed 500, 600.
The interest charges and operating expenses
will aggregate $4,000, leaving surplus OF $685.
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 encrcles the
city. These railways send out 20 passenger and
tennessee RIVER affcrd commESIeation by rail rn
and water excelled by few cities in the Cnited
States.
me population IN 1880 gas under $4,000 and
Is n0tC about 40 900.
MANUFACTURER.
IRON AND Street.-The yearly output of iron
In the Chattanooga district is nearly 100000
tons, worth some $4,000 900.
There are blast furnaces, rolling mills, iron,
brass and stove foundries, spike mills, boiler
works, machine shops, cast iron pipe works,
wrought iron pipe works, Bessemer steel works,
barbed-wire factory, iron fence company, saw
works, pillow works, and other iron and steel man.
nfacturing concerns, representing in this business
American, Scotch and English investors.
LUMBER.-There are saw mills, that cut 81
04HoqS iees 81 ~ e d ID one Raang
one year; furniture and chair factories, making
this city the largest manufacturer Of furniture in
GRAIN, COTTON AND FRUrr.-There are 7
Touring and grist mills, grain elevators, large
warehouses, cotton factory and compress mill.
The State ACCOMMODATIONS report shows that
the lands tributary to Chattanooga produce annu-
ally 10000 900 bushels OF wheat, corn and oats,
50.00o tons Of hay, 100000 pounds Of cotton,
$4,000, 900 worth OF fruit and support over $751;
100000 worth OF live stock.
OTHER MANUFACTURES.
There are the largest tannerles in the United
States, The Tennessee marble works, brick-mak-
ing companies, paint factories, tile works, terra
Gotta works, fire brick works, fruit canning fac
tories.
There are 11S concerns using steam power,
representing an investment of S5,S0O.OO0 en-
pl0ying 5000 hands, with yearly production Of
nearly SS,000,000. 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
FINANCE.
Taxable valuation sl3,OoO,000.
Debt less than per cent. of taxable valuation
The city can issue no bonds without authority
from the State Legislature, which must further
be ratified by three-fourths vote of the people,
ADVANTAGES.
The supreme requisites for fiourishing indus
trial center are:
1 Cheap coal, iron and labor-for manufac-
lures.
2-Cheap transportation by railway and wa
terror freights.
slight municipal debt and low taxes.
When, In addition, city Is surrendered by a
fine tributary timber and agricultural country 1t
possesses all the requisites and advantages that
insure the greatest prosperity and growth,-and
all of these are possessed by Chattanooga.
These exhaustless beds OF coal and iron. and
almost limitless forests Of the best varieties of
timber, assure the future prosperity Of this part
OF the country, and capital is pouring South for
its development. In all branches of manufacture
there is activity and progress.
The bonds OF this water company have been
taken for Insurance Companies, Savings Banks,
Estates, and other trust fund investments.
In addition to the security already specified,
these bonds are guaranteed principal and inter-
est.