The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1891-02-12
TO SELL THE CANAL.
S.GC, ,"oO to be Offered fo- its P"rc:i:>e-
1t is Lihely to De Sold.
fC0lumGia Record, 10th.

Another proposition for the purchase
of the Columbia Canal. Northern cap
ita!i,tS Waut to Uuy il. and they offer
$3GG,UO for it. Now the Question IS,
vii! the city sell it or Hold il.
This is Il SUMMARY Of the report
which surprised the community this
afternoon about > o'clock, and Is soon
as it BEGAN - hc whispered the Record
man began 10 investigate, and learned
that Il Proposition would be laid before
the City Council tonight, Offering to
purchase the distinguished ditch"
The proposition. Us far ;iS can be asccr-
tained is to purchase the whole canal
from the city and l'ay S-3j0, 900. for it.
it is stated that the proposition
comes from Northern capitalists who
nave been in Columbia for some days
investigating ard examining the canal
property. Particulars OF the PROPOSE
ton at this writing are rather meagre,
as those who know all about it are very
Teticent, but the information given
above comes indirectly from one Of the
highest city officials and may therefore
be considered correct.
There can be but little doubt that the
proposition will be laid before Council!
tonight and the question at once arises,
what will they DO with it,
Several of the Aldermen, as far as can
be ascertained, favor it but the offer
will have to be proven to be bona flde
in their eyes before they would consent
to the sale.
TO DEVELOP CANAL PROPERTY.
| The interest in the canal matters was
! Increased tenfold to-day when it be-
came known that a company with a
big capital had been formed TO develop
some of the best sites. The new conf
pany is to be called "rhe Congaree
Water Power company" and the cor
poratOrs are W. II. Greenfield aud Ben
jamin +. Barley, of this city, and
Rudolph Seiglilly and John +. Fickeu,
Of Charleston.
All of them are rich men and the two
former OWL some Of the most important
and valuable sites on the canal.
The company i; to conduct 4 real
estate business and lease and sell
D rwers, erect mills, houses, factories
and water ways. The capital stock
will be SO 600 divided into 430 shares
at 10 each.
The company to-day filed its dcclara-
! ton ana secured I commission from the
Secretary of State. This company, in
coHHecticn with the other important
canal, Will run the stock Of the Big
Ditch" higher than it could ever hoped
to reach.
THE FIRST COTTON MILL.
When Sir. Jasper Miller left Cnlum-
bia ten days ago he proposed to raise
only two hundred thousand dollars of
stock 1t the North, for the Columbia
| Heights Mil, aud doubtless many felt
that lie would not be able to do that,
but the following telegram to the
Record received from Mr.. Miller this
morning shows that he has met with
most gratifying success:
"NEW YORK, February 9, lS9l.-
Your telegram just received on my re-
turn from the East. Have secured be-
tween three and four hundred thous-
and dollars for the mill The capital
stock will be six hundred thousand
dollars. "JASpER MILLER"
THE CANAL SOLD.
Special to the Charleston World.
COLUMBIA, February lO.-The
| Columbia canal has been sold.
At the meeting of the city council
tonight this great work was sold to
representatives of 4 Northern syndicate
ofimnensely wealthy capitalists.
The city is wild with JOY, and the
action Of council is approved on all
hands Every member of council was
in his seat promptly, for news of the
sale of the canal by the trustees, sub
ject to the action Of council, was made
public in the afternoon.