Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-22
cONNllssloN MERCHaNT.

ital stock Of the company IS SIX hun
dred thousand .6U0OO0l dollars; and
the net profits for the year ended on
the 27th Of February have been ll4,5SS
dollars. which is 1903 per cent. on the
capital stock. President Hickman
states that the trade OF the country IN
all its departments has not yet wholly
recovered from the depression caUsed
by the monetary panic Of 1873. The
mills IN the North ran on short time
during a large part Of the year, and
some Of them stopped work altogether,
while the Graniteville ran without IN
terruption. Tue profits from sales Of
goods in New York were Sff $40; from
domestic sales, S7l,799; from sales Of
waste. SIS. 1853; from rent, SJ95-ln all,
SI33,2S7. The amount at credit q
profit and loss account has been re-
duced by the sum Of SIS, 500; and by
substractiug that amount from the
gross profits above given, the remain
der is Sll4,5S9, which shows the net
profits, namely, 1909 per cent. on the
capital stock. The consumption Of cot
ton during the year amounted TO $685.
S92 pounds. or III commercial bales,
$50 pounds each. Of the value Of S52S,-
6O2, an average Of l4.3o cents per
pound. The cotton used was made IN
to 259 $50 pieces Of cloth, in l0,536,5OO
yards, a piece being about 10 yards.
This is an increase Of l7O,O36 pounds
Of cotton, 4,7j5 pieces Of cloth, and o.
793, 500 yards over the preceding year.
They have IN store / $50 bales, or o3l,-
$50 pounds, which cost an average OF
l3 66 cents a pOund-less than the
preceding years prices
Fourthly, as TO the reasons for the
greater profits Of the Southern manu-
facturers. Prominent among these Is
the fact thas they have cotton a. their
doors. The transportation from the
South TO, say Lowell, the centre OF
Northern manufactures, COSTS Tor
freight, s.; fOrcommissiOn Onpurchase,
Sl.50; for insurance, 50 cents; and Tor
exchange and shipping expenses nd
truckage, 65 cents; in all S7.55. Now,
a bale of $50 pounds, at Is cents a
pound, is $3.50 a bale; and S7.6j for
exp snses incidental to transportation
deducted Is a deduction Of more than
II per cent of the capital invest d. But
this is not all. OF the $50 pounds n
bale the waste is always calculated at
Is per cent. which IS 67.5 pounds, and
this from $50 leaves 1925 as the bale Of
fibre. Now, S7.G5 for traDspOr alton IS
1888 per cent Of the whole value; and
this IS the disadvantage with which tie
Lowell manufacturer begins his work.
1t costs him then Sl.4l a bale to get
the cloth 70 New York, the common
market. 1t costs the Southern manu-
facturer-at Augusta, s1y-S2 4t to
ship his cloth to the same markst.
But, by referring again To President
Hickman's figures ABOVE, We lnd that
his market is at home; that is, % per
cent of his sales are domestic, while -
Der cent are IN New York. He has to
nav the s. 4t freight on only jSs per
cent of his cloths, while the Lowell
manufacturer pays his Sl4l on all of
his. Another point Of economy b the
Augusta manufacturer is the cheaper
labor he can command. He bas No
fear f strikes, as his brother ia Lowell
has 10 deal with every mouth. Food
and fire wood are both cheaper, and tar
less { the latter is required