The Canton mail. [volume] (Canton, Miss.) 18??-1882, 1875-08-07
NEW ENGLAND'S SCEPTRE.

{ Why She VIII Hare to Hand IL Drer to III
South-Ihe Impending Reeolution in Co,to
, Manufacturer.
The New York correspondent of tn
London Standard furnishes some i'm
. pOrtant facts as to cotton manufacture
, in the northern and southern states, ant
. draws comparison between the two
He says:
First, as to the north. I have som,
facts bearing upon the profits of cotton
manufacture in six mills, which hav,
been adduced to prove the profitable
ness of northern manufactures. I Civ.
these as presumably correct. The Chic
opee Mills, with q capital of $3.50, 600
made an average profit of 25 per cent
during the period from 1862 to 1871
the period of the six calculations. The
Salisbury Mills, with a capital of 50,
900. 600, made profit of % 5 per cent.
the Pacific, capital, 50, 500, 900, made
q. 25 per cent; the Naumkeag, capital,
81 500, 600, made 10 62 per cent; the
Merrimac, capital, So 500, 900, made Is.
per cent; and the Middlesex, capital,
$3.50, 200, made 1875 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
tries 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 ~ to 40 per cent.-say, the average,
35. The Petersburg Mills are said to
| realize a profit of 25 per cent; the
Langley Mills, over Is per cent; the
Augusta Mills. over 30 per cent the
Columbus Mills, the largest probably in
the south drumming 80, 1000 spindles and
900 looms). over 20 per cent and the
Tallahassee, 20 per cent. These six av-
erage, as above calculated, a profit of
over "a 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
parison, tell very strongly in favor of
the greatest profits of southern over
northern mills. The per cent. profits
are-northerp, in prosperous times,
1898; southern, in times of great finan-
cial stringency, "a. But, as intimated
above, the facts here given, while be-
Geve 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.. n. III. Hick-
man, president, has just published his
annual report, and it is from this that
I take the following details: The cap
ital stock of the company is six hum
bred thousand GOO, OOO) dollars; and
the net profits for the year ended on
the 9th of February have been ia, 588
dollars, which is 1908 per cent On the
capital stock. President Hickman states
that the trade of the country in all Its
departments has not yet WI oily recov-
cred from the depression caused by the
momentary panic OF 1873. The mills in
the north ran on short time during
large part of the year, and some of them
stopped work altogether, while the
Grauiteville ran without interruption.
The profits from sales of goods in New
York were $44, $40 from domestic sales;
ST., 799 from sales of waste, $15, 1858;
from rent, S595-in all, $133, 28Y. The
amount ct credit of profit and loss &C.
count has been reduced by the sum OF
$18, 500; and by subtracting that
amount from the gross profits above
given, the remainder is $114, $50. which
shows the net profits, namely, 1900 per
cent. on the capital stock. The con-
amounted to 3,676, 892 pounds, or III
commercial bales, $50 pounds each, of
the value of 1928, COZ, an average of
1888 cents per pound. The cotton
used was made into 259, S26 pieces of
cloth, in 10, SIC, 500 yards, piece being
about 40 yards. This is an increase of
10, O36 pounds of cotton, 1855 pieces
of cloth, and 1913, 500 yards over the
preceding year. They have in store
1, 855 bales, or 1884, $50 pounds, which
cost an average of 10. sc cents 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 that they have cotton at their
doors. The transportation from the |
south to, say Lowell, the centre of |
Northern manufacturers, costs, for |
freight; SIS, for commission on purchase,
81. so for insurance, so cents and for |
exchange and shipping expenses and |
truckage, Is cents, in all 7.65. Now,
a bale of cotton $50 pounds, at Is cents
q pound, is S67 so a bale and Ss7.65 for |
expenses incidental to transportation
deducted is a deduction of more than
IL per cent of the capital invested. |
But this is not all. Of the $50 pounds
in bale the waste is always calculated
at Is per cent, which is 67.5 pounds,
and this from $50 leaves 1926 as the |
bale of fibre. Now, $7.65 for transpor-
tation is 1888 per cent of the whole
value aud this is the disadvantages
with which the Lowell manufacturer
begins his work. It costs him then
81 Al bale to get the cloth to New
York, the common market. 1t costs
the southern mauufacturer-at Angus
"a. say--$2. Al 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 38 per cent are in New
York. He has to pay the 80 A freight
on only SO per cent of his cloths, while
the Lowell manufacturer pays his
81. Al on all of his. Another point of
economy to the Augusta manufacturer
ia 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 frewood are both |
cheaper, and fer less of the latter is
required.
A Terrible Moment.
The Bein Public of Tarbes, June 20,
thus describes the destruction of the |
bridge of the Adour: From daybreak |
the entire length of the structure WAS