The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1875-08-12
NEW ENGLAND,s sCEPTRE-

A-OANtOA OJduuaIQ furnishes some I'M.
portant facts as to cotton manufacture
IN the northern and southern states, and
draws a comparison between the two.
He says:
First, as to the north. I have some
facts bearing upon the profits of cotton
manufacture IN six mills, which have
been adduced to prove the profitable
ness OF northern manufactures. I give
these as presumably correct. The CHIC
opee Mills, with a capital of S43O 600.
made an average profit of %. 6 per cent.
during the period from 1862 to 1871
the period OF the six calculations. The
Salisbury Mills, with capital of 81,
OUU. 200, made a profit of % 3 per cent.
the Pacific, capital, 81, 800, 600, made
Zl.25 per cent; the Naumkeag, capital,
81, ,5OO,O COO, made 10 81 per cent; the
Merrimac, capital, 50 500, 900, made Is. 5
per cent; and the Middlesex, capital,
$3.50, 600, made u 5 per cent. These
profits, leaving out of the calculation
the capital invested, shows an average
per centage of 1898. But the re-
suit Is pretty nearly correct, as we see
two facts of opposite character
namely, that the largest profits come
on the smallest capital, and that the
amount of capital that made above the
general average is largely in excess
nearly double, in fact that which fell
below it.
Secondly, as to the south. I have no
comprehensive figures to show in this
region, for the reason that such indus
ules as these were all in confusion
during the whole of the period of great
prosperity, embraced in the northern
reports. The Macon Mills (steam) dur
ing the last year or two claimed to have
realized profits to the enormous extent
OF 30 to 40 per cent.-say, the average,
30. The Petersburg Mills are said to
realize a profit of % per cent; the
Langley Mills, over % per cent; the
Augusta Mills, over % per cent; the
Columbus Mills, the largest probably in
the south drumming -, 900 spindles and
9OO Iooms), over 20 per cent and the
TallahasEe, 20 per cent. These six av-
erage, as above calculated, a profit of
over q per cent. This, it must be re-
membered, has been mainly since the
financial crisis, September, 1878, during
which time many of the northern mills
have been running on half time. These
facts, so far as they constitute any COM
parlson, tell very strongly in favor of
the greatest profits of southern over
northern mills. The per cent. profits
are-northern, in prosperous times,
1888; southern, in times of great inan-
cial stringency, "a. But, as I intimated
above, the facts here given, while I be-
heve them to be honestly estimated end
very close to the truth, are not to be
taken strictly.
Thirdly, as to one mill, mentioned
above, have specific and Trustworthy
statements. The mill is the Granite
vile manufacturing company, located
IN South Carolina. Mr.. II. II. Hick-
man, president, has just published his
annual report, and it is from this that
take the following details: The cap
ltal stock OF the company is six hun
dred thousand 600, 0O0) dollars; and
the net profits for the year ended on
the 9th of February have been ia, 58S
dollars, which is 1908 per cent on the
capital stock. President Hickman states
that the trade of the country in all It's
departments has not yet wi oily recov-
cred from the depression caused by the
mOmentary panic of 1878. The mills in
the north ran on short time during q
large part of the year, and some of them
stopped work altogether, while the
Graniteville ran without interruption.
The profits from sales of goods in New
York were $44, $40 from domestic sales;
ST., 799 ; from sales of waste, S15. 963;
from rent, S595-in all, $133, 2SY. The
amount ct credit of profit and loss ac-
count has been reduced by the sum of
$lS, 699; and by subtracting that
amount from the gross profits above
given, the remainder is $114, $50, which
shows the net profits, namely, 1909 per
cent. on the capital stock. The con
,ltTDV, af L.
amounted to 3,676, ,S92 pounds, or III
commercial bales, $50 pounds each, of
the value Of S52S, ,602, an average of
14,3S cents per pound. The cotton
used was made into 259, 1926 pieces of
cloth, in 10, 536, 500 yards, piece being
about 40 yards. This is an increase Of
10, ,036 pounds of cotton, 4,755 pieces
of cloth, and 793, 500 yards over the
preceding year. They have in store
], S55 bales, or S34, $50 pounds, which
cost an average of 1886 cents pound
less than the preceding years prices.
FOurthly, as to the reasons for the
greater profits of the southern manu-
factureIs. Prominent among these is
the fact that they have cotton at their
doors. Tue transportation from the
south to, say Lowell, the centre of
Northern manufacturers, costs, for
freight; So, for commission on purchase,
81. so ; for insurance, 80 cents and for
exchange and shipping expenses and
truckage, 65 cents, in all 765. Now,
a bale of cotton $50 pounds, at 10 cents
a pound, is S67. so a bale and 81. 65 for
expenses incidental to transportation
deducted is a deduction of more than
II per cent of the capital invested.
But this is not ali. OF the 450 pounds
L. 1. I Il
at 10 per cent, which is 67.5 pounds,
and this from 450 leaves 1925 as the
bale of fibre. Now, ST. for transpOr-
tatiCn is IS. SO per cent of the whole
value and this is the disadvantages
with which the Lowell manufacturer
begins his work. It costs him then
S1.41 a bale to get the cloth to New
York, the copemon market. 1t costs
the southern maUufacturer-at Angus
"a, say s.. IL to ship his sloth to the
same market. But, by referring again
to President Hickman's figures above,
we find that his market is at home
that is, 60 per cent of his sales are
domestic, while 80 per cent are in New
York. He has to pay the 80 "A freight
on only IS per cent of his cloths, while
the Lowell manufacturer pays his
81. II on all of his. Another point of
economy to the Augusta manufacturer
is the cheaper labor he can command.
He has no fear of strikes, as his brother
in Lowell has TO deal with every
month. Food and firewood are both
cheaper, and flr less of the latter is
required.
Measles Pestilenee in the Fiji Islands.
The London Spectator gives the fol-
lowing account Of the fearful depopula-
tion OF the Fiji Islands by disease since
their recent acquisition by Great Britain;
80 A British ship, it appears, landed
there some returned emigrants i'll with
the measles, and these men scattered TO
their homes. The disease being con-
sidered trivial by Europeans, no precau-
tions were taken, but, as usual when an
inferior race catches an infectious dis
ease from a superior one, its virUlence
was intensified, it speedily bee me a
plague, and the natives, naturally be-
fieying that it had been designedly in
troduced to kill them of, refused medi-
cine. and rushed into the sea to allevi-
ate the torment of the rash. The bath
- -, 9,,ooyq o.,,Ea 1vcartarv and II is