Monday, November 12, 2007

inadequate capital

The vast majority of Mill workers were born in central Virginia. The two exceptions on the 1920 payroll were Krickbaum and Drumheller

The years between 1868 and 1881 proved to be the most turbulent and critical in the history of the Charlottesville Woolen Mills. The company was operating on the fringe of a highly competitive market in an industry in which Southern woolen mills suffered distinct disadvantages. A flimsy financial structure which siphoned off profits to creditors nearly caused the boat to sink. To a great extent inadequate capital was unavoidable in the retarded economy of Reconstruction, but also it must be viewed as a weakness self-imposed. --Harry Poindexter

Labels: ,


Post a Comment

<< Home