﻿640 
  NEW 
  YORK 
  STATE 
  MUSEUM 
  

  

  In 
  the 
  fall 
  of 
  1898 
  the 
  writer 
  gathered 
  the 
  statistics 
  of 
  water- 
  

   power 
  on 
  Black 
  river, 
  where 
  a 
  total 
  of 
  55,360 
  net 
  horsepower 
  

   is 
  in 
  use 
  in 
  93 
  manufacturing 
  establishments 
  of 
  various 
  sorts 
  

   and 
  kinds. 
  Of 
  these 
  36 
  are 
  papermills 
  using 
  46,587 
  net 
  horse- 
  

   power. 
  The 
  approximate 
  total 
  value 
  of 
  the 
  annual 
  product 
  of 
  

   the 
  36 
  paper 
  mills 
  was 
  found 
  to 
  be 
  $5,242,620, 
  whence 
  the 
  aver- 
  

   age 
  value 
  of 
  the 
  annual 
  product 
  per 
  net 
  horsepower 
  becomes 
  

   $112.50. 
  Similar 
  statistics 
  have 
  not 
  been 
  gathered 
  for 
  Hudson 
  

   river, 
  where 
  the 
  mills 
  are 
  fewer 
  in 
  number, 
  but 
  so 
  much 
  larger 
  

   than 
  on 
  Black 
  river 
  that 
  the 
  annual 
  product 
  approximates 
  

   $8,000,000 
  in 
  value. 
  Undoubtedly 
  the 
  cost 
  of 
  manufacturing 
  in 
  

   large, 
  thoroughly 
  equipped 
  modern 
  mills 
  is 
  less 
  than 
  in 
  small 
  

   mills, 
  and 
  the 
  writer 
  provisionally 
  places 
  the 
  value 
  of 
  the 
  annual 
  

   product 
  of 
  Hudson 
  river 
  paper 
  mills, 
  per 
  net 
  horsepower 
  actually 
  

   used, 
  at 
  $135. 
  On 
  both 
  Black 
  and 
  Hudson 
  rivers 
  the 
  mills 
  them- 
  

   selves 
  grind 
  a 
  large 
  proportion 
  of 
  the 
  pulp 
  used, 
  and 
  when 
  this 
  

   is 
  done 
  the 
  net 
  profits 
  of 
  the 
  paper 
  business, 
  over 
  and 
  above 
  

   interest 
  on 
  invested 
  capital 
  and 
  all 
  other 
  fixed 
  charges, 
  may 
  be 
  

   assumed 
  to 
  range 
  from 
  10 
  to 
  15 
  per 
  cent. 
  We 
  will 
  take 
  

   12 
  per 
  cent 
  as 
  an 
  average. 
  On 
  this 
  basis 
  the 
  net 
  annual 
  profit 
  

   on 
  each 
  net 
  horsepower 
  in 
  use 
  at 
  Hudson 
  river 
  papermills 
  

   becomes 
  $16.20, 
  which 
  at 
  5 
  per 
  cent 
  represents 
  a 
  capitalized 
  value 
  

   of 
  $324. 
  In 
  the 
  absence 
  of 
  more 
  exact 
  data, 
  and 
  for 
  the 
  pur- 
  

   poses 
  of 
  this 
  discussion, 
  we 
  will 
  use 
  this 
  figure 
  as 
  representing 
  

   the 
  approximate 
  value 
  of 
  a 
  net 
  horsepower 
  on 
  Hudson 
  river. 
  1 
  

   At 
  this 
  rate, 
  the 
  value 
  of 
  14,695 
  horsepower 
  becomes 
  $4,761,180, 
  

   which 
  is 
  the 
  approximate 
  damage 
  to 
  the 
  Hudson 
  river 
  water- 
  

   powers 
  from 
  Hadley 
  to 
  Troy 
  to 
  result 
  from 
  taking 
  the 
  mean 
  

   quantity 
  of 
  775 
  cubic 
  feet 
  per 
  second 
  from 
  Schroon 
  valley 
  catch- 
  

   ment 
  area. 
  

  

  Compensating 
  reservoirs 
  on 
  Hudson 
  river. 
  However, 
  reservoirs 
  

   capable 
  of 
  supplying 
  500 
  to 
  600 
  cubic 
  feet 
  per 
  second 
  compensa- 
  

   tion 
  could 
  be 
  constructed 
  on 
  headwaters 
  of 
  main 
  North 
  river 
  and 
  

   Sacandaga 
  river 
  for 
  less 
  than 
  $4,761,180. 
  

  

  x 
  At 
  Troy 
  there 
  is 
  a 
  small 
  amount 
  of 
  miscellaneous 
  manufacturing 
  to 
  

   which 
  a 
  larger 
  figure 
  could 
  be 
  properly 
  applied. 
  

  

  On 
  Black 
  river, 
  in 
  eight 
  machine 
  shops, 
  the 
  average 
  value 
  of 
  the 
  annual 
  

   product 
  per 
  net 
  horsepower 
  is 
  $1728 
  ; 
  in 
  nine 
  flour 
  and 
  feed 
  mills, 
  $627.20, 
  

   etc. 
  

  

  