Sunday, February 17, 2008

So much for conjectural estimates

Union Chapel Sunday School Minutes, February 1899-Courtesy of Albemarle Charlottesville Historical Society

Viewed as a whole, the next thirty years were indeed an era of prosperity and expansion for the Charlottesville company, but for a time it seemed as if the storms of the seventies had suddenly returned to lash at its moorings. Strangely enough, the directors fell into the same financial trap which had ensnared the mill in 1868. Once more its capital was so locked up in buildings, machinery, and improvements that little remained for daily expenses. This condition began to grip the mill while the new building was going up. Additions, improvements, and remodeling amounting to $6,500 ran the early estimates of cost to some $73,000, and on this basis expenditures were planned. The directors were astounded in 1883 when the bill came to $97,000. "So much for conjectural estimates!!" one director commented dryly.--Harry Poindexter

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