The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1874-07-09
The Cotton Factory at High Shoals.

The projectors of this enterprise seem deter
mined to press it on to completion. Untoward
circumstances have delayed progress in some
degree, but the movers are taking advantage OF
the points already gained, and will not suffer
any diminution Of public interest to slacken
their efforts in the least. The financial crash
last fall affected this project materially, but
the favorable prospects of the present crop
stimulate renewed energy, and we have no
doubt that the work will begin earnestly in a
short time. The temporary organization made
two months ago has been an encouragement to
the stockholders, and it is now proposed to hold
another meeting at High Shoals on the 25th
inst. Only ten thousand dollars are wanting
to complete the capital stock of the company,
and when this amount has been secured, the
work will be pushed vigorously forward We
understand that number of citizens from an
adjoining county are desirous of inspecting the
locality and learning the plans of the stock
holders more fully, with view of investing
their surplus means in the contemplated tacto-
ry. The proposed meeting affords the oppor-
tunity to them and all others of like disposition,
and we trust there will be general attendance
of citizens from every portion of the County,
who are interested in the development of our
manufacturing interests.
We have printed so much on the subject of
cotton manufacturing, its profits and impor-
tance to the Southern people, that it would
appear unnecessary to adduce any further ar
gument on the subject. Every citizen must be
convinced that this is the safest and best in
vestment now Offering But the instances are
constantly multiplying to demonstrate the su-
perior advantages of the South as a manufac-
turing centre, especially for its chief staple,
and we are constrained to din these facts into
the ears of our readers until they move more
rapidly on the highway to prosperity and sue
cess. A recent paragraph in the Charleston
News and Courier shows that the profits of the
Augusta Cotton Mill have been absolutely
marvellous. 1t was bought by its present
owners for one hundred and forty thousand
dollars on ten years credit, at seven per cent.
interest. The stockholders paid in but sixty
thousand dollars, which was expended in ma
chinery and Improvements. The property has
paid for itself; additional land has been pur-
chased; new buildings have been erected; one
hundred thousand dollars invested in new ma
chinery; the capital stock has been increased
(watered) to six hundred thousand dollars, and
the company has paid out dividends to its
stockholders since the war to the amount of
one million and sixty-eght thousand dollars !;
has to-day property worth one million two
hundred thousand dollars, at the smallest cal
culation, and surplus of over two hundred
and fifty thousand dollars.
1t would be idle to assert that every cotton
mill erected in the South would yield such
enormous profits, but the figures stated are un-
doubtedly true, and there is no reason to doubt
that prudent, thrifty management and close
calculation Of expenses will insure an approx
innate yield for High Shoals or any other first
class water power.