The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1875-09-08

NNnt Cotton fattulN. Mr. llOOQ lnei
read the following letters:
ruoS. Il. LEES LETTER.
ANDERSON &. H., $. c.,
August 20, 1875.
iE.sr$. Nuclclon tutl others, committee
EnNrl.EMEN-Iuu note requestin:
me to he present and address meeting
at Erwin's Mills, in the interest OF
project to build a cotton factory 1T ina
place, was received. My previous en-
uawcmcnts are such rs to prevent my
being with yoil, and beg you t" accep
my excuse.
You are engaged in 4 good work ana
,rust you will succeed 4 cotton factory
nropcrly managed is not only greatly
prutitablc to tho owners. but great behe
iit will enurc to the surrounding com
muniiy.
examined some time since the pro
posed sites for your buildings, and wa:
much pleased with them. lou vii
fravc abundance of power easy or con
troll to propcl much more machinery
ilau YOU propose to begin with, and yoI
should, by all means build 50 as 10 nave
room, for future extension. Ihanklne
you for your kindness, and wishing iol
you quick success, am,
Respectfully,
THOMAS b. LEE.
COL. AIKEN'S LETTER.
CoKEsBURY, S. C.,
August "a, 1915.
Une. Hood, Esq: .,
DEAR SIR will not be with you a!
Erwin's Mills on the Isl September, and
therefore send you the following dots
from reliable manufacturer
iu Lowell, Mass:
10 manufacture daily ! 900 pounds OF
A standard sheetings from Nos. II and
Ii yarns, will require the following ma
chinery. Here follows list of the va
riuus articles Of machinery needed, WIN
their cost, amounting to $2S,24S, Whicii
we omit
buildings to suit this machinery
should he thrce-stories high, OF either
wood, or brick, or granite, and Is or 6G
feet wide, to accommodate the machln-
erv and furnish from 10000 to II, 600 feet
of floor surface. 70 manufacture the
same number of pounds Of No. S to IL
bunch yarns, will require similar ma
costing ia the aggregate 81, 2oI!,
and q wood, or brick, or granite build
inr of the same length and width, but
only two stories high.
| give you, Furthermore, the following
data that you may rely upon and pre-
sent to that meeting:
Mr.. r.. II. Chiffon, President OF the
Columbus Manufacturing Company
SAYS in his report of February, 1873
that this mill cleared in 1872 twenty pei
ceh'. upon tie capita, representing its
productive capacity. They run 4,OO(
-piudleS, wheat and grist mill, and
machine shop. That same report says
30 properly managed mill can be
pointed to in the South, which has moi
been profitable up to the present time. y
Mr. \. J. Bussey, President of the
Eagle and PhTniX Manufacturing
Company of the same city, which mal,.
uractl,res woocn rs well as cotton goods
says, "Tue earnings for the year 1S7;
are Sl4O, ,S75.05; QUITO this the dividends
were declared in April and November
Of 10 per cent. upon their entire capita
stock, with u balance, which, added t
the reserve fund, brought up the undi
vidci profits to S3l3, 3,G4l.97.
Mr.. w. +. Jackson, of the Augusta
Factory. in his report for 1873, says they
paid a dividend quarterly of ) per cent
on capital stock of $500, 900, and they sth
had u surplus on hand of more thar
$500, ,HW. The par value Of their stock
is Sion per share. Present value SlGO
and none for sale. This company ha.
paid an annual dividend since 1865 upor
their stock of twenty per cent. aunum
HIr. II. Hickman, RSesident of th'
Graniteville Company, recommended
in his report for 1872, that they double
the capacity Of their mill, and ad,
steam, as they were already utilizing al
their water power. He said, moreover
that he felt confident he could make thi
enlargement declare an ANIMAL 10 pc
cent. dividend, and create ii surplus
that would foot the bill, without calln.
iIpon the stockholders for an additional
cent. In his report of 18th February
1871, he says, though the year 1873 Wa
one of fearful financial pressure, tht
Graniteyille Mills paid dividend ant
laid aside surplus, the two aggregatins
twenty-five per cent. upon the stock.
The Langley mills are reported by ;
correspondent Of the augusta COnstHu
H0,luiist of 18th May, 1875, who receive,
this information from the President
Mr. VIM. e. Sibley, as having cost orig
inally. S4ll,l92 They commenced ope
ration in 1872. They have declared a.
annual dividend Of 10 per cent. ant
have $ll2,G00 as surplus capital. This
mill has $40, 900 spindles. S2S looms anc
325 hands. In 1871 there were not hal
dozen souls living in ten miles of Lang
ley. In 1875 it has census Of 500 per
SONS,
Only a week ago, visited a spinning
facrory At Grecnville where for 5 month!
800 hands have been employed day an>
night, Q5O during the day, and tht
same number during the night anc
was told, that the dividend declared BY
that mill in 1874 was $4,000 upon al
investment of less $4,000. This yeal
it will probably be double that amount
At the same spot the same company
is now erecting factory in whicl
6 900 spindies will be twirling before Is
January, 1876. Ten miles below Green
Vile on the Snluda, the Piedmont Fac
tory is well nigh completed, and by Is
OF next October, anticipates having lh'
machinery ut work. This mill has {
capacity of 10000 spindles.
I regret that I cannot have an oppor
tunity to tell you and the public on'
halt that saw whilst on recent tril
North: their warehouses are full o