﻿870 
  NEW 
  YORK 
  STATE 
  MUSEUM 
  

  

  made 
  in 
  France 
  in 
  1189 
  A. 
  D., 
  and 
  in 
  England 
  about 
  two 
  hundred 
  

   years 
  later. 
  

  

  Until 
  one 
  hundred 
  years 
  ago 
  the 
  method 
  of 
  paper 
  making 
  had 
  

   been 
  the 
  same 
  as 
  originally 
  practiced 
  by 
  the 
  Chinese 
  — 
  fibrous 
  

   materials 
  being 
  beaten 
  into 
  a 
  pulp, 
  mixed 
  with 
  water 
  and 
  molded 
  

   into 
  sheets 
  by 
  manual 
  labor. 
  

  

  Among 
  the 
  interesting 
  industrial 
  developments 
  of 
  the 
  present 
  

   day, 
  the 
  International 
  Paper 
  Company, 
  incorporated 
  under 
  the 
  

   laws 
  of 
  New 
  York 
  State 
  in 
  January, 
  1898, 
  may 
  be 
  mentioned. 
  

   This 
  company 
  acquired 
  at 
  the 
  time 
  of 
  its 
  incorporation 
  nearly 
  

   all 
  the 
  larger 
  mills 
  manufacturing 
  newspaper 
  in 
  the 
  eastern 
  

   States 
  and 
  later 
  on 
  has 
  acquired 
  several 
  additional 
  paper 
  and 
  

   pulp 
  mills, 
  timber 
  lands, 
  waterpowers 
  and 
  other 
  properties. 
  Its 
  

   manufacturing 
  plants, 
  waterpowers 
  and 
  timber 
  lands 
  are 
  

   located 
  in 
  Maine, 
  New 
  Hampshire, 
  Vermont, 
  Massachusetts, 
  

   New 
  York, 
  Michigan 
  and 
  Canada. 
  In 
  New 
  York 
  the 
  Inter- 
  

   national 
  Paper 
  Company 
  owns 
  the 
  following 
  mills 
  : 
  Glens 
  Palls, 
  

   Fort 
  Edward, 
  Palmers 
  Falls, 
  Niagara 
  Falls, 
  Lake 
  George, 
  

   Ontario 
  (near 
  Watertown), 
  Piercefield, 
  Herkimer, 
  Lyon 
  Falls, 
  

   Cadyville, 
  Watertown 
  (at 
  Watertown), 
  Woods 
  Falls 
  (near 
  Water- 
  

   town) 
  Underwood 
  and 
  Harrisville. 
  

  

  The 
  capital 
  stock 
  of 
  this 
  company 
  is 
  $25,000,000 
  preferred, 
  of 
  

   which 
  |22,406,700 
  had 
  been 
  issued 
  June 
  30, 
  1903, 
  and 
  $20,000,000 
  

   common, 
  of 
  which 
  $17,442,800 
  had 
  been 
  issued 
  at 
  the 
  same 
  date; 
  

   110,000,000 
  of 
  first 
  consolidated 
  mortgage 
  gold 
  bonds 
  have 
  been 
  

   authorized, 
  bearing 
  interest 
  at 
  the 
  rate 
  of 
  6 
  per 
  cent 
  per 
  annum, 
  

   payable 
  semiannually, 
  February 
  1 
  and 
  August 
  1. 
  The 
  plants 
  of 
  

   the 
  company 
  were 
  valued 
  in 
  1903 
  at 
  $41,925,446. 
  The 
  gross 
  

   income 
  for 
  the 
  fiscal 
  year 
  ending 
  June 
  30, 
  1903, 
  was 
  $20,142,771. 
  

   The 
  cost 
  of 
  raw 
  materials 
  and 
  manufacturing, 
  including 
  ex- 
  

   penses 
  of 
  administration, 
  sales, 
  and 
  cost 
  of 
  selling, 
  was 
  for 
  the 
  

   same 
  year 
  $16,529,310. 
  

  

  The 
  International 
  Paper 
  Company 
  has 
  been 
  of 
  considerable 
  

   value 
  not 
  only 
  in 
  this 
  State, 
  but 
  in 
  the 
  other 
  states 
  where 
  it 
  

   operates, 
  in 
  that 
  it 
  has 
  modified 
  the 
  conditions 
  prevailing 
  before 
  

   it 
  came 
  into 
  existence. 
  Competition 
  was 
  so 
  severe 
  as 
  to 
  have 
  

   blinded 
  many 
  manufacturers 
  to 
  the 
  fact 
  that 
  there 
  was 
  any 
  

   future 
  to 
  be 
  considered. 
  As 
  soon 
  as 
  the 
  company 
  was 
  formed 
  

  

  