The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1848-10-04

CoTToN MILL AT CHAMELEON, lA.-We learn
from the Louisville Journal that company
has recently been formed for the construction
of a Cotton Mill at Cannelton above here on
the river. The capital stock of the company
is $500, 900, of which only zoe, 900 will now
be used, and 10000 spindles will be set in
motion. The directory and other officers OF
the company, says the Journal, are OF the high
est character, unsurpassed for integrity and bu-
siness capacity. No company in this respect
could commence business under better auspi-
ces. Two of the directory are cotton planters,
one resides in the interior of Indiana, and the
Others are of Louisville and vicinity. Of the
Stockholders, several not among the directors
are cotton planters. The stockholders are oil
men of substance, and the capital will be
promptly paid in as required, and the establish
ment set in motion as soon as possible.
The Louisville Journal thus speaks of the
enterprise
We congratulate the South and West no less
than the citizens of Louisville on The ausplcious
commencement of this enterprise. IL IS no'
the first mandatory of the kind IN the west
but the circumstances which led TO il AM ac-
company give 1t striking interest and in
portance. The stockholders were induced 10
embark in itby the thorough investigations and
conclusive demonstration OF the superior adj
vantages enjoyed by the West for manufactures
land especially at the coal mines on the
Ohio river south of Louisville. They have EN-.
barked in the enterprise with an eye single TO
the profits of the manufacture itself. They
live In Kentucky aud Indiana, and Mississippi,
Arkansas, and Louisiana. Ii is the first asso-
cia,ion of the South and the West in the man.
ufacture of cotton. The South end the West
have united their surplus capital TO combine
the produce OF both regions, the cotton oil the
South with the fuel and food OF the West, to
| produce those fabrices of universal use, good
enough TO be worn by the rich and cheap
enough to be worn by the poor. 1t is union
the most beneficial that could beimagined, and
this enterprise cannot fail TO be followed by
many others. Cotton no longer pays such
a profit as TO induce the planter 10 invest his
surplus income in opening new lands. Ht
seeks other kind of investment. Al nome he
has the raw material OF cotton manufactures
but he wants the fuel, the cheap food, the OPP
Ieratives, the healthy location. Upon the
Ohio river not remote from his own planla
uOn, III tue NeI! miust VI o 'ao'
consumers, he finds all these advantages. de
has TO bring his cotton TO the coal banks, anC
to the cheap food, and TO the operatives, bu
Ibis cotton when manufactured is In the region
lin which ii is most wanted for consumption
What is mere, he brings his cotton 10 aregioI
in which perhaps he already spends every sum
= mer. and where he can z i've his cotton mill a
much attention as if established at his south
A ern home.
We have then reason TO congratulate tn
South aud the West on this enterprise. Ii l
i the first of a series of enterprises destined a
no distant day to transfer the chief seat OF man
ufactures from the East to the West. Their
: was no difficulty in obtaining subscriptions I
any amount among the cotton planters TO tn
. stock of the present company, and no dou6
l other companies can at this time be readll
formed.