The morning star and Catholic messenger. [volume] (New Orleans [La.]) 1868-1881, 1874-05-17
Manufactures.
We copy the following from the Mobile


We copy the following from the Mobile
Register:
Granitevillle Ga. mill, % coo spndles. came
out of the war with its machinery, 9l2o spin
dies and 337 looms, worn out. and It's capita!
increased by watering from $4,000 to SIG,
800, a great and injudicious disparity between
capital and spindles. Yet, notwithstanding
this great disparity, it's last exhibit develops
the fact that it has renewed the greater part
of its machinery, increasing its spindes to
"a 900 and its looms to $40, and the productive
capacity from $4,000 to2oO, 900 yards per week,
and all this without assessing the stockholders
increasing the capital stock The principal
additions and repairs of this company were
completed in the spring of 1865, leaving as
com rcial capt. al only $4,000, and yet, though
| "happy good lucky" style and pretty well run
itself it has, by prudent handling of the pro
due lion and by the results of the remunerative
prices which all cotton manufacturers have
experienced, paid since 1S63 in dividends
1921 930 and has a surplus of Si23 600
all made legitimately by the manufacture of
| cotton and so much confidence has been felt
by the stockholders in the future OF manutac-
turing that their treasurer bought, 4 year
SINCE 900 shares of their own stock at SID
per share, an investment for the company.
The present market price is one hundred and
sixty.
The Langley Manufacturing Company's
Mill, 10000 spiudles, with over half its stock
owned by W. c. Langley of New York,
started in 1871, and though vesy much em-
barrassod and set back just as they were or
gauizing their labor, by an extensive break in
their dam, which took three months to repair
at a cost of about $4,000, they got i'll full OPP
Grafton the last of March, l>'2. aud are now
turning out superior goods, which rank with
the best and most popular of Northern mann
facturc. This company (not hstandIDg their
having spent crcry dollar Of their means in
starting their mill, and having been forced to
borrow working capital under superior mau-
agemeut both of the mill aud of the finances,
have economical space and added :, more
looms, and make splendid eNhlOlt, showing
profit last year of Sol coo, or over - per
cent net on their capital and after paying
dividends surplus from accumulation OF pro
Il, of $l23,Q 400, and their stock IN demand at
~ per cent premium.
This is the result at Augusta. The operation
OF the Colu mbus factories, we understand, has
been quite as successful
In Georgia they have advantages OF
water power comparatively unknown in
! Louisiana aud especially in the neiGhoor-
hood of New Orleans. In that respect the
superiority of situation is decidedly agains,
us. Water power is cheaper than steam
( in itself and especially 50 in the greater
simplicity of the machinery by which it /:
applied. But should We for that reason
abandon the field entirely
1t must be Teme'n bered, that an i'm
mense proportion Of the spindles, both :"
Euglaud aud o.! Northern States, art
driven By steam. New Orleans ought t.
be one Of the cheapest markets for coal ii
the world, and ulaoafact"gies at this POI
could be Supplied with !: a: much lowel
rates than are given by many OF the laTg
est and most Successful establishment:
elsewhere Why then could not cottor
factories succeed here
The answer 10 this is that iaboc is to
dear. 1t has undoubtedly been so in the
past but that day is probably over. ( n
ployment is now very scarce and laboEer,
can find nothing to do at any price. The
cry of want and semi starvation is uui
versal, and thousands Of competent person:
would be glad to get factory work at a:
low- wages as prevail elsewhere. And
there can be but little doubt that Their,
will be good deal of Permanence in thi
feature of the labor question.
There is no reason why labor should b
dearer here than in more northern cDln.
tries where more clothing a1i fuel mas b
used where warmer houses must De occup ieL
and where both soil and c.imIte are far in
ferlnr To those of Louisiana for the prcduc
iion OF vegetable and animal food. NJ
only is labor much cheaper at the Nor.
than it has been here, but it is 50 in NOR
southern countries also. In Mexico az,
Central America labor is extremely cheap
The position of New Orleans is anomalou
and must change. The condition in whc
we are now, shows that our former condI
ton was unnatural and that a reaction ha
taken place. The fascination of cotto
raising at the high prices prevailing ate
the war, carried wages up to an absur'
figure, but that has passed away and
planters fud that they must economies