The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1867-02-22
COLUMBIA.
Friday Morning, February %. 1867.
Manufacturing i'm this State.

tory, in this State, designs to enlarge
its capacity for more extended opera
tions. For this purpose, he desires
to increase the capital stock of the
establishment to $50, 600, in oder to
carry on the business more proftably,
and on Il scale better suited to the
capacity of the mill. To accomplish
this, he proposes to raise a Joint
stock company, by selling about forty
shares, of $1,000 each, retaining
twenty shares himself The factory
has been profitably operated By Mr.
Perry for the past six months, and
paid q profit of twenty per cent. on
the capital stock in that time.
We would be glad to see Mr.. Perry
and all others engaging in manufac-
turing i'll this and other States OF the
South meet with success, and the
proposal made. we think, offers a
good opportunity for those who have
the means and the inclination to en-
bark in the business. In the SUCCESS
full establishment Of cotton manufac-
tories throughout the South, we be
Eicvc, depends much of her future
prosperity.
The figures and statements Of
Eastern cotton mills show the large
profits Of these establishments. Cot
ton will be grown probab y for some
years to come by tho freedmen who
remain on jhc plantations, or who,
disappointed III their migration West
ward, will return to their OLD homes;
but still we have many Ii every
Southern State, the employment of
whom il factories would not only
support them, but aid materially in
building up the fortunes Of the South.
The local manufacture Of the staple
in the neighborhood where it is
grown, as estimated by the best au-
ahorities, will, at the lowest calcula-
ton, nett double the price of the
raw staple packed and sent off to
foreign manufacturers. These results
are matter Of statistical and mathe-
natlcal certainty, and cannot be dis
puted. In the present impoverished
condition of the Soutl:, her people
should use every effort to realize both
values of the staple. 70 have some
idea Of the increased profits to the
local manufacturer as we'll rs the
planter, they must add to the plant
er's net retnrns ana the factors COM
missions in Charleston, or some other
Southern shipping port, the profits
of Lowell and Manchester.
What these profits are, we fluid con
denscd III Il letter written by Gov.
Patton, on the subject, some weeks
ago. In lowell, there are ten large
manufacturing establishments, to
carry on which the aggregate capital
is Sl3, 900, 900. The cotton consumed
annually, 100000 bales; the number
of yards OF cloth produced (cxclu-
slSe Of yarns was something over
100, 700, 900; the number Of opera
tlvcs, mostly women and children,
10000. TO raise the amount OF cot
ton manufactured by these mills.
would require at least 80, 900 field
laborers, and yet it is converted into
Yarn and cloths by 10000 The pro-
cess Of manutacturin the cotton
doubles its value, and yet this only
requires $4,000 women and children,
while the raising of the cotton re-
quires 10000 hands. The writer,
then, pointedly and forcibly says:
''Thesc are plain and positive
figures, taken from sources of un.
doubted reliability. 1t will be seen
at once that the dividends paid upon
these Lowell mills must be highly
remunerative. l have before me a
comparative list Of dividends recently
declared for several of the incorpo-
rated fact les at Lowell, and else
where i'll the North, and they range
from twenty to forty per cent. per
annum. 1t would, perhaps, be safe
to place the average at thirty per
cent, thus showing that the annual
profits onuo1 ncorl1y ono +l,;,I &c ~