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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (July 18, 1908)
FT" AT Here Will Be a Textile City Built Upon Honor, Conducted Upon Honor, and Forever Maintained as a Clean Home for Clean People, Recognizing the Rights of the Toiler Who Helps to Build It NO An Important Industry Oregonlan Editorial, July 10 The new woolen mil! project t Gordon Falls, near Bridal Veil, may easily develop into one of the most important industries in the state. Oregon is one of the greatest wool-producing states in the Union, and the advantage of having a manu facturing plant so near the source of supply of raw material is obvious. In the oaving in freight alone on wool shipped eat and goods shipped west, there will be n opportunity for much cheaper and better clothing than is now obtainable. The mill will also give employment to a large number of people, who in turn will become purchasers of farm and garden products grown in the vicinity. Lack of factories has been one of the greatest drawbacks to the growth of Oregon, and every enterprise of this nature should receive the heartiest encouragement from the people. .The plans have been formulated and the foundation laid for a great textile manufacturing center, located 29 miles east of Portland, on the line of the Oregon Railroad & Navigation Company, the Columbia River and the Spo kane, Portland & Seattle Railway, at the foot of an immense waterfall of 900 feet, the energy of which is to be converted into electricity by a plant to be immediately installed, and for the purpose of securing funds to meet the ex penses of such installation, The Cordon Falls Electric and Manufacturing Company Has Decided to Issue a Limited Number of 6 Per Cent 10 Year Gold Bonds, in Multiples of $100, and With Each Bond Will Be Given, as a Bonus, 50 Per Cent of Its Face Value in Co.'s Stock Bonds to be delivered and interest to accrue upon the completion of payment for such bonds. These bonds may be paid for in cash or on installments, and interest will be paid semi-annually in United States gold coin, thus af fording an opportunity for persons of great or small means to invest either considerable or small amounts in an absolutely safe and profitable enterprise. There can be no question that the stock, given as a bonus with the bonds, will pay most generous dividends, and that associating these dividends with interest on the bonds, investors will receive for their money returns that will make this company's securities exceedingly profitable property. Financial Department The financial department of the company has been placed with McLaren, Goode & Co., William Whitfield, manager, main entrance Commercial Club I 1 . V V'. t. mm Miss Harriet Gigray, stenographer for the Florence Placer Mining company. . subscribed for the first bond to bo Issued by the Gordon Falls Electric. Manufacturing company. The financial "department of this company has been placed with McLaren, Goode & Co., William Whitfield. Manager, main entrance Commercial Club building. Fifth and Oak streets, this city. Gordon Falls Splendid Water The following telegram speakaj for itself nd tells the story of the unsurpassed water of Gordon Falls andaister streams passing through this remarkable town aite, soon to be the citadel of numerous factories and mills: Hartford, Conn., July 9. Charles Coopey, 311 Oak street, Portland, Oregon. I believe Gordon Falls is the best location for a woolen mill and scouring mill in Oregon. The water is perfect, which is an indispensable ingredient for both. The climate likewise. E. Y. JUDD. Mr. Judd is one of the largest dealers in wool and woolens in America. His Judgment Is, therefore, certainly worthy of consideration. building, Fifth and Oak streets, Portland, Or., and San Francisco; Los An geles, Chicago, New York and London, who will receive subscriptions, and from whom bonds may be secured. Carefully Organized The Gordon Falls Electric & Manufacturing Company has been carefully organized and legally incorporated, and its bonds will be secured by all its property, consisting of 840 acres of valuable real estate, timber, building stone and the greatest and richest waterfall on the entire Columbia river, itself ample security for 10 times the amount of bonds we shall sell. All moneys received from the sale of bonds will be religiously devoted to the purchase of arj electric plant and its installation, and conduct of its power to the vari ous manufactories which will be located at Gordon Falls City, among which will be one of the largest woolen mills or woolen cloth factories in the west, all appliances for which have been purchased, the company having secured the woolen mills now located at Pendleton, Or., for years famous for the ex cellence of their woolen productions. It is expected that mills and factories of many characters will be erected at this place, because of the low cost of power with which to operate them, superior shipping facilities, and the fact that labor will be so zealously cared for and so comfortably housed that workmen and their families will enjoy such contentment in this new city that the value of their services will be greatly enhanced, and strikes and labor turbulence will be a thing unknown. As has been well said by the Portland Morning Ore gonian, we expect to and will build here an Utopian city, so fascinating to both employer and employe that the relations existing between them will ever be so friendly that the interests of one will be those of all. s MEN EM WAMT We will sell $150000 worth of 10-year 6 per cent gold bonds in denominations of $100 each, payable $10 at time of purchase and $10 per month until paid for. With each bond we will give the purchaser, free of charge, $50 worth of stock of the comoanv which will irive the buver a share in the comoanv s orofits. and make him or her a nartnor in h wrnnri;,n r.A ;ni.r..j ; t. .;n 1:1 t.-. u.. i , ' . . V ' . . .! l" s.lo-K i me company, will pay the owner $3 in interest each six months and in time, and not very long time, either, the stock will pay most generous dividends, but just how much we cannot at this time tell. There can be no doubt, however that its returns will be verv large, because the water that propels the electric plant will do its work at no cost at all, and never will complain or go on strike. It will be a reat force working for nothing, and as every stockholder will be a member of ihe companyythis water win be working 4or every holder of a bond. We are anxious, therefore, to d.spose of 1,000 of these bonds to 1,000 working men and working women who will desire employment at or in our mills and factories-spinning yarn weavfng doth 7&tiK mnhintt 'm?nVbJaS rL ?tev Wi i"g '2 freS' CU img $0frdwood' maklng box"' Peking goods-filling all the multitudinous positions which will be open to the breadwinners of Portland or any other section of the country We wish w Tould sell just , T.?Y.?Xpp pC imp" r ppo rJS it ti!1' t0 f,T whoaret "ployed on the outside and all other attaches of our enterprises. This would create a combination of interest- UNION between loyer anTempfoye-a great partnership that WOULD SWEEP EVERYTHING BEFORE IT There will be no "graft" at Gordon Falls. This shall be our shibboleth. We hope to build up an Utopian city at this wonderful point, and it can be done only when all hands tand upon a plane of equality that recognizes each other's rights and each other's welfare. BREADWINNERS OF OREGON, ARE YOU IN WITH US ON THIS PROPOSITION? X PROSPECTUS Immediately upon organization of the company it was desired to make public proclamation of its intentions, and that these mWht be completely understood, the following declarations of its management are herewith published : nun a imr i prnw M Th Gordon Falls Electric & Manufacturln Company Is in corporated under the laws of the State of Oregon. It has a cap- llai stock or jzzo.uiw, an or wnicn is ruiiy paia ana non-assessa- bl. There la no limit to the time of its existence. FTTKPOSEB. The Company Intends to develop and utilise the water power known as Gordon Falls, on the property of the Company, to estab ' Hah a townslte on Its property, to sell and lease lands belonging; to the Company for manufacturing, commercial and residential pur posea, to erect and sell or lease buildings for business and resi dential purpose, to engage In the manufacture of woolen and wor sted textiles, and In such other enterprise as from time to time '. may be determined to be feasible and profitable. The pro party of tne Company ooaalrta oft 1. Eight hundred and forty acres of land situated on the south V bank of the Columbia river, and on the O. R. & N. Co., about 30 mUes east of Portland, Oregon. 8. Three miles of water frontage on the Columbia river. 5. The absolute right to streams and waterfalls on the property of the Company, which are amply sufficient for the development of 1,200-horsepd'wer, and for all domestic, manufacturing and other ' use. And when needed the Company owns several smaller streams, which, when combined, can furnish J, 000 additional horsepower. 4. Twelve thousand cords of Cottonwood timber. This Is the onlv timber on the Pacific coast which Is adapted to the manufacture of excelsior, for which there is an unlimited demand. The supply of . the timber elsewhere is limited and rapidly becoming very scarce. 6. A large amount of standing timber suitable for piling and ', cordmood. f. Building stone in unlimited quantities. rxjurs or BETZLoriiEn ajtd utiiizatios. Electrlo Power. a. It is the intention to begin at once the development of the water power, which careful estimates show will be verv economical by reason of the available material and the short distance from the point of production to the point of consumption. The estimate, carefully compiled and revised, is as follows. E8TZXATE TOH OOBBO TAXIiSJ SX.ZCTSIO FOWEB 7XABTT Itemised. Total Intake Cost. Cost. Two rubble masonry dams I Mo. on Racks, Gates, etc 500.00 I l,J4f00 Penstock 140 linear feet of 2 4 -Inch wood stave pipe at . . tl ?0 110.00 . linear reet or 20-in. riveted ateel ripe at It will be seen from the foregoing that the Initial cost of con struction and installation, as compared with the development of the majority of other such enterprises, is very small, and will be an Important factor in the net earnings of the Company. Particular attention Is called to the fact -that the power will be delivered on the ground, and that no long, expensive transmis sion lines will have to be built and maintained. b. Woolen Mill as an Initial Step. The Company has made ar rangements to purchase the famous Pendleton Woolen Mill In cluding all its trademarks, good-will, plates and advertising matter. OCm-TEMPLATED OUTLAY TO PZBST THAR. Recapitulation "A" Electric power and light plant 39,192.00 "B" Woolen mill 37,700.00 "C" Excelsior manufacturing plant 8.700.00 "D" Hotel, cottages, etc... J0.000.00 Total $106,682.00 E SITUATE OP PBOFXTS. etc.. and will remove the plant to Gordon Falls, enlarge it to a "A" The Gordon Falls Electric Plant, with a total capa-three-set mill, equip It with the latest machinery capable of city of 1.200 horsepower, at an average price of $40 making most kinds of woolen goods, and besides continuing to per horsepower per annum, would earn $48,000.00 make the world-famous Indian robes, the Company will make sev- Less expense of maintenance, depreciation, etc 10,000.00 erai unes or staple gooas witn registered trademarks. These p.mds will he all wool, and by all wool we mean all fleece wool not shoddy, ramie, or cotton mixed, and any goods containing these substitutes will be so labeled and sold as such. This will give the people a chance to know what they are buying, and also give Oregon the fame she deserves as a state growing fine - wool, and with Its beautiful soft water and climatic conditions, as a place second to none In the world for the manufacturing of ime wouienn ana worsieas. ana we oeneve tne aay is not rar orr . $38,000.00 "B ' Woolen Mill: A careful investigation and considera tion of this subject shows that the minimum net prof It per annum, after deducting maintenance, labor and all expenses, including depreciation, will be at least. . $12,000.00 C" Excelsior Plant: The gross output per day will be 8 tons of excelsior at $18 Der ton. or a revenue nar vear t $44,640.00 when Oregon will be noted as having a large textile town by Less expense of cutting and hauling wood, labor to oper- the name of "Gordon Falls. In this connection, the Company Is very fortunate In having among Its acting officers, first, anexpert wool buyer; second, a first class woolen manufacturer; third, a man well versed in the manu factured fabrics and sale of same. As soon as the work on the water power Is under way, ar- iniinturan win ua maue 10 commence tne construction or a ault ate plant, depreciation, etc 22,320.00 ..Net profit $22,320.00 T Net Income from hotel, cottages, etc., (estimated) $ 2,400.00 OTKEB BOTTXOBS Or XBTCOKE. In addition to the foresroinv. the Cnmnnnv will rA nine Bicum vuiiuihb mr wio m&nuiaciure or woolen goods. The maiiumciuring ana Dunning sires, rrom which a substantial yearly approximate cost, based on careful estimates fnlloura Woolen mill machinery, etc ...$16.000 00 RIts 2,000.00 lr",Jl 1.500.00 Building 7,200.00 Allowance for contingent expenses. Including sprinkling system for Insurance protection, setting up and in stalling machinery, superintendence, etc 10 000 00 137.700.00 This industry will be augmented, from time to time, as seems revenue should be derived and which is conservatively estimated at 1 VVuV,VV, PROFITS X E C APirtTLA TIO H. "A" Electric plant $38,000.00 "B" Woolen mill 12.000.00 "C" Excelsior plant 22,320 00 "D" Hotel, cottages, etc 2,400.00 Other sources , 10,000.00 $84,720.00 nem jor me interests or ins i ompany, by the addition of such Lieauct Interest, insurance and general expenses $30,000 00 branches of the business as can he handled d vantageosuly and profitably, but at the outset it is the Intention to manufacture. Total net profits ; $54 720 00 only staple goods. The net revenue from the first year's operations should not c. The Company owns snd has under favorable option at low- be less than $18,000.00. and In three years" time, or less, the earn est estimate. 12,000 cords of cottonwood timber. In order to utll- Ings should equal or exceed the estimate above given. It might ''' n i"-si aavaniage, it naa oeen decided OB wen xo ana mai many oiner sourcea or income have not been $,40 00 30.00 $3 20 One air valve at $10 00 Pnwer House rvame building 80x0 feet fpile foundation) Water wheel, governors etc Generators, switchboards snd transformers Transmission Line ! miles at $700 00 Clearing and grubbing Freight 100,000 pounds .at 20 cents Engineering contingencies and Interest at IS per cent Tetai cost $,720.00 4.500 0 7.200 00 S,6rtn no to erect an Ex-elslnr Manufacturing Plant. lani is given Deiow: Ulldlng tl AAA Aft Machinery 6.000.00 i-uminirai expenses, sucn as rroignt, superintendence. In stalling machinery, etc Total The cost of such taken into consideration, as the desire la to be conservative in an statements ana estimates. rarAHciAX pxajt. The t n f fl 1 rjinltAllsfltlon of the Pimninv In Tvn UtinHrttri mtiA 2.700.00 Twenty-five Thousand Dollars ($225,000.00 ) all common stock, dl- vlded into 2.250 shares of the par value of One Hundred Dollars B. I UU.UU Ilinfl DOI ner ahare The f 'nmnanvnr'nnnmmm n in culling or wool tor tne rumose of unrilvinr f Ma nimi . k-h. etii nA a . .......ki. l. - r. ' ioooo r.'.'i. 1n,mhrCrr,'iT .V"1 con,,nu 'T,'ly hereafter. The the sum of One Hundred and Fifty Thousand Dollars ($10,000 00). eoo .00 plant will be completed as early as possible to mmmenes opera- divided Into fifteen hundred bonds of the par value of One Hun- l ooono ;,Y Ti ' ?Cf,"I7 ,t0. PPrly air and sun- dred Dollars each, to be secured by a trust mortgage upon the en- . 1,000 00 dry ths wood before manufacturing It Into excelsior. tire plant, asseta and pro rata Income-of the Company. The bonds ,,. ... . ..J order to care for the employes and laborers connected are to bear six per cent Interest and to run ten years. Ths amount ii if , w,.'.h ,h 'rloi! enterprises. It will be necessary to erect a hotel, thus realized to b expended In Improvements and to provide the -m 00 rrtf"M: V,? for this purpose will be for nessary working capital. With the bonds will be given as a bo- a I ha Tl r9 T X'tfMBl f 1 711 Illlf4 fl4l lPlUlUlnS tna a. 1 aKaK a. 4 a a a, la.aa.al a. M 1 M . . W . ( , . . ai - . . ..... .. . . .iwmi ui laiu. srsaina 01 nm ma imnini 01 eiocs rauii id nriv per cent or tne race vaiua or irveis sua sreciion 01 ouiiainga. .$11,112.00 the bend a void. The trust mortgage will be a first lien on all of the property and assets of the Company, and under lta provis ions all earning will be pro rated, a sinking fund to be provided for the redemption of bonds and the balance to be carried to sur plus account. OOWCIUHIOW. In summing Up the advantages of the Investment which 1 here offered, your attention is called to the following: First The location of the Property la Host Advantageous from a Transportation Standpoint, and rates already given are the same from and to Eastern points as to all Pacific Coast ter minals. Tho Columbia River affords an all-the-year-around route, and freight can be shipped locally to Portland at a nominal figuro. In connection with this It will be well to observe that the location of the Company will be particularly desirable when the upper Co lumbia River is opened for navigation, as Is now assured; for with such cheap power the aite of the Company will be admirably adapt ed to the manufacture of flour and other mill products. Second The Oregon Railroad & Navigation Company, which passes directly through the property, Is making a mill-in-translt rate, which will permit the utilization of the Company's site by a mill dependent upon the railroad for the supply of grain. Tnlra The North Bank Road, which Is Just across the Co lumbia River from the property of the Company, can be used, as required, for all kinds of traffic. Pourth The Insurance rate on manufacturing plants, etc.. will be exceedingly low, as the water supply will be ample for fire protection, as well aa for all domestic and manufacturing pur poses. Pifth The climatic conditions are ns near perfect aa can be, No long, severe Winter or extreme Summer heat Sixth The location la especially adapted for the manufactur ing of worsteds, woolens, and mohairs, as the raw materials are immediately at hand, and there being available an unlimited sup ply of pure, soft water, with the added advantage of climatic conditions, which cannot be excelled by any place in the world, Gordon Falls should soon take its Mace as one of the foremost centers of this industry. Ssrenth The water supply on the property of the Company is remarkably pure and cold and cannot become contaminated Eighth Resides the factories that the establish, arrangements are well under: way. with bright prospects of success, for two more very responsible firms to establish fac tories that will bring a revenue to the Company for power alone of $4,600 per year, as well as houses for their work people, will re quire light, water and fuel. Besides, the Company is In commun ication with several other firms and Individuals, with good hones of their building factories on the sites. SO CIA X. ASTAVTAOES. The Company has determined to prohibit the sale of Intoxicat ing liquors upon Its premises, or the use of such premises for anv Immoral purpose, and all realty transfers or leases will be made subject to sucb restrictions, it being a fact beyond controversy that social and business conditions will be greatly benefited thereby. Each family will be provided with sufficient land for a home garden. As soon ns practicable a plan will be worked out which will permit all deserving employes to acquire an Interest in the Com pany upon easy payments, so that each may participate in the profits arising from his own labor. The Company will donate a aultable plat of land for park and recreation purpose, also for a gymnasium, and will encourage in every way clean, healthy sport. v ?in?, ,or " bu',,,l'' erected upon land sold or leased by the Company wUl be subject to approval of the Company erch Iteet and the executive committee of the Company, aa harmony In design will add greatly to the attractiveness of the surround ings, besides enhancing the value of all property. ALL COMMUNICATlbNS TO BE ADDRESSED TO (G Il EE CMC i IMUlFACTffilKE CdDlPAIW 320 COMMERCIAL CLUB BUILD INC, FIFTH AND OAK STREETS PORTLAND. OREGON TELEPHONE MAIN 955 FINANCIAL DEPARTMENT McLAREN, GOODE & COMPANY -Main Entranc. Commercial Cob Bail ding. Fifth and Oak Ml
