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New Castle, IN 1903

New Castle Democrat April 1903

Twenty Industries that Employ 1,500 Persons with Weekly Payroll of $15,000

     The real and final proof of the industrial growth of any town is the amount of wages paid out every week.
     That is an index of the business that will be transacted in the stores and offices, and the volume of business has much to do with property values. Prior to the location of the Shredder factory the total wages paid out in New Castle did not exceed $1,500 a week. We can't figure out that much but allow it in order to be on the safe side.
     As soon as the factories now built are in full operation the weekly payroll will generate $15,000, or ten times as much as three or four years ago. That is what we call "industrial progress" which is spoken of many times in this issue. Fifteen thousand dollars a week means $750,000 a year in wages and this does not include the hundreds of men employed in the builders, and other trades, the teamsters and common labor all resulting from the coming of the factories. Their wages amount to several thousand dollars a week that should be added to the factory payroll.
     The value of the product of all these institutions will reach enormous figures, the total being not far from$3,200,000, which is $10,000 for every working day in the year…a small fortune. The profits from all the articles manufactured and shipped out of town must aggregate several hundred thousand a year and most of it comes back to New Castle as nearly all of the factories are owned by local men.
     The table printed below shows the capitol stock of each industry, the number of persons employed, the weekly wages and value of the product, the figures based on each concern in full operation which will be in a very few months.

CompanyCapitolWeekly WagesEmployeesAnnual Product
Krell- French Piano $550,000 $6,000 600 $2,000,000
Indiana Rolling Mill $500,000 $2,500 225 $250,000
Indiana Shovel Co. N/A $1,100 100 $150,000
Safety Shredder Co. $150,000 $800 75 $200,000
Pan-American Bridge $100,000 $750 65 $150,000
New Castle Shovel $100,000 $750 65 $75,000
Hoosier Manuf'g Co. $54,000 $800 75 $125,000
Paper Box Co. $54,000 $350 40 $50.000
New Castle Foundry $39,000 $500 40 $40,000
New Castle Coil Hoop $25,000 $400 45 $60,000
Brass & Iron Bed Co. $20,000 $500 50 $90,000
Martin Milling Co. $25,000 $100 10 $40,000
Bond Handle Co. $15,000 $209 20 $30,000
New Castle Brick Co. $12,000 $150 15 $30,000
Greenhouses $160,000 $750 60 $100,000
Blue River Canning $15,000 $250 30 $30,000
S. P. Jennings Co. $20,000 N/A N/A N/A
L. A. Jennings $20,000 N/A N/A N/A

2001 UEB

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