The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1867-02-27

we may yet be 1ar greater anu Iuore
prosperous people than heretofore-6lch-
naond Times.
Manufacturing in this State.
We learn from private correspondence,
that Mr.. William Perry, the proprietor of
Pendleton Factory, in this State, designs
to enlarge its capacity for more extended
operations. For this purpose, he desires
to increase the capital stock of the estab-
lishment to 100000, in order to carry oil
the business more rroftably, and on a
scale better suited to the capacity of the
mill. To accomplish this, he proposes to
raise joint stock company, by selling
about forty shares, of $1,000 each, retain
ing twenty shares himself. The factory
has been proftably operated by Mr.. Perry
for the past six months, and paid profit
of twenty per cent. on the capital stock in
that time.
We would be glad to see Mr. Perry and
all others engaged in manufacturing in
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 embark in the business. In the success
full establishments OF cotton manufactures
throughout tic South, we believe, depends
much of her future prosperity.
The figures and statements of Eastern
cotton mills show the large profits of these
establishments. Cotton will be grown
probably for sonie years to come by the
freedmen who remain on the plantations,
or who, disappointed in their migration
Westward, will return to their old homes;
but still we have many in every Soiitlern
State, the employment of whom in iacto-
ries would not only support them, but aid
materially in buildiiig up the fortunes of
the South. The local manufacture of the
staple i'll the neighborhood where it is
grown; as estinlated by, the best ,authori-
ties, will, at the lowest calculation, nett
double the price Of the raw staple packed
and sent off to foreign manufactures.
These results are matter of statistical and
mathematical certainty, and cannot be dis
puted. In the present impoverished con-
dition of the South, her people should use
every effort to realize both values of the
staple. To have some idea of the increas-
ed profits to the local manufacturer, as
we'll as the planter, they must add to the
planters net returns and the factors COM
missions in Charleston, or some other
Southern shipping port, the profits OF
Lowell and Manchester.
What these profits are, we find coll
Io++o, 1,rr Gov, Potion
on the subject, some weeks ago. In Lowell;
there are ten large manufacturing estab-
lishmenss, to carry on which the aggregate
capital is Sl3,OOO,OOO; j, The cotton con-
sumed annual y, 100000 bales; the num-
ber of yards Of cloth produced Exclusive
of yarns) was something over 100000
600; the number of operatives, mostly
women and children, 10, 900. To raise the
amount of cotton manufactured by these
mills, would require at least 10000 field
laborers, and yet it is converted into yarn
and cloths by 10000 The process OF
manufacturing the cotton doubles its value,
and vet this only requires $4,000 women
and children, while the raising of the cot
ton redttfcs 10000 hands. The writer,
then, pointedly and forcibly says:
''These are plain and positive figures,
taken from sources ofundoubted reliability.
1t will be seen at once that the dividends
paid Upon these Lowell mills must be
highly remunerative have before me
comparative list of dividends recently de-
clared for several of the incorporated fac.
tories at Lowell, and elsewhere iii the
North, and they range from twenty to
forty per cent. per annum. 1t would,
perhaps, be safe to place tho average at
thirty per cent, thus showing that the
annual profits equal nearly one-third of
the capital invested. No dividend which
1 have seen reported is as low as the legal
interest of Alabama. Statistics such as.
these tell their own story. They are safe
and unerring guides to all who may seek
to ascertain the profits of manufacturing
and surely they afford ample encourage
ment for Southern enterprise of this char
acter." !,
We trust that the people of the South
will so promptly avail themselves OF this
new field Of industrial enterprise, appaa-
rently providentially opened to them by
the diminution of their agricultural labor,
that we shall have the pleasure of chron-
icling the springing up of factories all over
the cotton region OF the Southern States.
Columbia PhGnir.