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Henry County Genealogical Services
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.
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