The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1873-10-02
SuGel%sqa gutelttggerfer~
ANDERSON @. E':... s, G.
THuasDAY MORNING, oGT:: 3, 1873

THURsDAY MORNING.. OCP.ss g 1873.
The Profits of Cotton Manufacturing.
The mere assertion that manufacturing cot
ton is paying investment does not carry con-
viction with it, and we propose to adduce facts
and figures, without comment, to show the
enormous profits realized by cotton mills IN
the United States, as gathered from various
sources. ask The: reader give careful az
tentiont to these we'll established facts, which
demonstrate that cotton mills In all pass OF
the country have earned money and declared
lhrge dividends
3 The. following, official figures gives the aver
age annual dividends from 1852 to 1871 of GER
tain Eastern mills, together with their capital,
and the highest market value of their stock
during the period named:
Chicopee mills, dividends, Is 1-2 per cent. {;
.capital $3.50, 600; value of stock, $3.50 on par
of 500. Merrimac mills, dividends, Is IL per
cent; capital, $3.50, 600 value of stock, $l,
200 on par of 81 900. Middlesex mills, divl'
dends, ,22 1-2 per cent; capital, S750 O0O, value
,ofstock, $500 on par of SlO0. ,Namkeag mills,
dividends, 10 5-s per cent. capital, 81 800 Ooo;
1value of stock, S167 on par of S1OO.. Pacific
mills dividends, ,2li1-4 per cent. capital, ST.
100000; value of stock, S2;240 on par OF 81 ,O0O
Salisbury mills, dividends, % IL per cent;
capital S., coo, 600; !; value of stock, $500 on
Par OF SE00 5a-. Si@tt t'}e
These Eastern mills have averaged about
twenty per cent. for their stockholders. Now,
as the, Atlanta Constitution very forcibly says,
it costs not less than ten dollars bale to trans
BORT the raw cotton to the New England mills,
and bring It back in the shape of merchantable
goods. Add this cost to the profit of Eastern
mills, and we have the twenty-five to thirty per
cent that every well-conducted Southern mill
i paving at this time. Here are the figures:
The cotton mills at Augusta, Ga, are paying
over 20 percent; at Petersburg, 3Ya.,. over
25per cent. at Columbus, Ga, where there
has been greater development since the war
than at any other point in the South, over 70
per cent; the Tallassee, (Ala.l Manufacturing
Company, 20 per cent; asd q ntstatement
says that the COTTON factory at Macon, which is
ran by steam, realizes profit of $4,000 to
$4,000 ona capital stock of 100000, which
is from ito 10 per cent. 80
Tie shares OF the Augusta Factory, at q par
value Of ,s10o, are worth $500 per share;
Granitegille, Sl55per share; and the Langley
unillss (new) $ff5.
As an evidence of the value of cotton fac
tories to town or city, the Montgomery
Advertiser notes the fact that tract of land
near Augusta, Ga, which could have been
bought for twenty dollars per acre three or four
years ago, sold few weeks since for three hum
dred dollars per acre! The tract was adapted
for the location of cotton factory, and it was
bought by English spinners, who said that
they could manufacture yarns here and ship
then to Europe for about the same outlay that
the raw cotton would cost there. Now, assum-
ing this statement Of the English spinners to
be true, the South can, by converting her raw
cotton into yarns and shipping it in that form
20 Europe, soon render cotton raising in Asia
and Africa the most improbable business that
men ever engaged in and instead of English
capitalists endeavoring to develop the cotton
production of Eastern countries, as they are
now doing, they would be compelled, if they
wish to continue the manufacture of raw cot
ton, to move their machinery nearer the cotton
fields of the South, or else purchase cotton
yarns of the Southern people.
It is estimated that the cotton crop of the
South Units manufactured State, worth ct least
$450,000,000. every year, and of this immense
sunl,the Southern planters now receive about
ene.half By converting the entire crop into
yarns, we have the profits on this staple more
than double, and retain o. source Of ineShausti-
BILE wealth in our naidst, the greater portion of
which now goes to enrich the manufacturers of
old and New England By agg5egating the
capital now scattered among the farmers and
planters of the South, and uniting our efforts
to secure financial independence, this great
work can, be accomplished; and when the
sound OF the spindle and loom is heard all
ever this beautiful land we love, then will the
world acknowledge the facts that we are now
demonstrating, and capital from abroad will
seek investment in QUIZ lands, and immigration
how uniuterruptedly to. this prosperous section.
Wei have already mentioned the unprecedent-
ed,deyelopmept Of cotton manufacturing at
Columbus, Ga, and will close this article by
exsnncting a statement from the Columbus Sun,
showing the history of their past management,
and indicating the brilliant prospects of the
future, VIII se4. 10;
1.-The Columbus manufactures, during the
season of 1923, took 6,42S bales of cotton, an
excess of sos over the previous year, and 2,3O1
more than the season before that. At 173c., a
low price, this cotton cost $87 so per bale, or a
total of 1880 This cotton, without our
mills, would have brought this and nothing
more. The shipper could have inade but small
commissions. The staple was passed through
our manufactures, ,and its value enhanced three
fold--advanced from S649,950 to S., $40 $50.