PROSPECTUS FOR EARLY ROOM AND POWER AT MARSDEN

[Stanley]

PROSPECTUS
OF A JOINT STOCK COMPANY FOR THE ERECTION OF SPINNING AND POWER LOOM COTTON MILLS AT MARSDEN NEAR COLNE.

The distressed state of the hand loom weavers in Marsden whose suffering case has repeatedly been before the public during the last 12 months and who, from the depressed rate of wages are still unable to obtain a livelihood even when fully employed, and are therefore obliged to eke out their scanty pittance at the Vestry board; has at length induced the Inhabitants and Owners of Property to project the formation of a Company for the above purpose, with a view of providing more profitable employment and thereby relieving the existing pressure, which is felt in degree by every class of Society. Already the Weavers are emigrating to more favoured districts, and whilst Trade
has been diminishing Parochial assessments have greatly increased: Tradesmen and others, whose means of subsistence depend on the labouring population are more or less injured in their circumstance and unless means are devised for checking the evil, a general depreciation of Property must ensue.

It is therefore proposed to raise a fund in shares of £50 each for the erection of two or more Mills with Steam Engines of 30 Horses' Power each, and other necessary appendages which shall he let to respectable Tenants who
will provide their own Machinery: And it is Confidently anticipated that such a Rent will be Obtained as will amply repay the Proprietors for the Outlay.

The advantages which this Locality presents for the erection of mills and other manufactories are obvious to those who are acquainted with the district; but for the information of Strangers it may be needful to Observe, that the
Township of Little Marsden is inhabited by a dense population chiefly employed in hand Loom Weaving; the Leeds and Liverpool Canal thro’ the whole breadth of the Township, nearly parallel with and at a very short
distance from a good Turnpike Road, forming a direct communication with Manchester.

The Marsden Colliery which has long been celebrated for its abundant supply of excellent Coal is situate between the Canal and the Road.

The Township and its immediate vicinity abounds with good stone of every kind for Building purposes, which may be obtained at a trifling Cost beyond the expense of Quarrying and the Rivulet which runs thro' the Valley
with its tributary Streams affords an ample supply of water for condensing purposes.

This will not be a trading, but strictly a Building Company, and no Shareholder will incur any liability beyond the amount of his Subscription. The Property of tile Company will be vested in Trustees for the use of the Proprietors and the Shares in the Undertaking will he transferable at the pleasure of the holder under the provisions of a Deed of Settlement.

Upwards of £3,000 bas already been subscribed, and when a sufficient sum has been obtained for the erection of one mill, a meeting of Subscribers will be convened by Circular for the purpose of forming the Company and carrying its object into effect; in the mean time applications for shares may be made to Mr Henry Tunstill, Cotton Spinner, Brierfield House. William Landless at the Marsden Colliery. John Bolton, cotton manufacturer, New Bridge Mill. John Edmondson, corn miller, Bradley Mill or to Caleb Haworth, Conveyancer, Marsden near Colne from whom any further information may be obtained.


Marsden
5mo. 1838

[Transcribed by Stanley Challenger Graham from a document provided by Geoff Shackleton. 24 October 2004]