Thursday, May 23, 2013

The appraisers of the late Mr. Colt’s estate . . .

. . . have finished their labors, and they make the whole amount of his property foot up over three millions of dollars.  This is exclusive of his landed property in the Western States and Texas, his gold and lead mines in South American and his property in England, which it is believed, cannot be fairly estimated.  Probably it is worth another million.  The number of men now employed at the armory at Hartford is about 1,100, and the pay-roll amounts to nearly $50,000 a month.  The value of the machinery and tools in the old army is not less than half a million dollars.  The new improvement or addition will just double the size and capacity of this immense establishment making it the largest armory in the world.

– Published in The Burlington Weekly Hawk-Eye, Burlington, Iowa, Saturday, June 7, 1862, p. 1

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