The Portland daily press., 1889-01-07
City Water Company,
CHATTANOOGA, TENNESSEE.
6 Per Cent. Sinking Fund Bonds.

The Farmers Loan & 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 $4,000 per annum.
The Company has two sources Of supply, one by
gravitaiion 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 100000.
The interest charges and operating expenses
viii aggregate SGT 900, 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 eneireles the
city. These railways send out 20 passenger and
Tennessee River, afford communication by rail
and water excelled by few cities In the United
States.
me population in 1880 lods under II, 600 and
Is notg about $4,000
MANUFACTURER.
IRON AND STEEL.-The yearly output Of iron
in the Chattanooga district is nearly 100000
tons, worth some S4.000,0OO.
There are blast furnaces, rolling mills, iron,
brass and stove foundres, spike mills, boiler
works, machine shops, cast iron pipe works,
barbed-wire factory, iron fence company, saw
works, pillow works. and other Ii on and steel man
a total capital of over 100000, furnished by
American, Scotch and English investors.
LUNBER.-There are saw mills, that cut 81
GOO, 900 feet OF lumber In one year; planning
Mills that used o. 600 900 ft. of sawed lumber in
one year; furniture and chair factories, making
this city the largest manufacturer Of furniture In
GRAIN, COTTON AND FRUIr.-There are
Touring and grist mills, grain elevators, large
warehouses, cotton factory and compress mil.
The State Agricultural Bureua report shows that
the lands tributary to Chattanooga produce annu-
ally 1000 900 bushels Of wheat, corn and oats,
100000 tons OF hay, 1000, 90 pounds OF cotton,
50, 900 900 worth OF fruit and support over s37-
600, COO worth OF live stock.
OTHER MANUFACTURES.
There are the largest tanneries in the United
States, The Tennessee marble works, briek-mak-
ing companies, paint factories, tile works, terra
tories.
There are IFS concerns using steam power
representing an Investment of S5,SOO.0OO, EN-
ploying 1000 hands, with yearly production Of
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 N me wholesale business amounted
FINANCE.
Taxable valuation S13,OOO,OOO.
Debt less than per cent; of taxable valuation
from the State Legislature, which must 1 further
be ratified by a threefourths vote of the people,
ADVANTAGES.
The supreme requisites for hourishing indus
Cheap coal, iron and labor-for manufac-
lures.
2-cheap transportation by railway and wa
ter-for freights.
3-Light municipal debt and low taxes.
When, in addition, a city Is surrendered by a
1ne tributary timber and agricultural country IL
possesses all the requisites and advantages thar
insure the greatest prosperity and growth,-and
all Of these are possessed by Chattanooga.
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 10 the security already specified
these bonds are guaranteed principal and inter-
est.