The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1875-06-02
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5000 bales are consumed a wear,
and 1882, ,000paid for labor. Francis
Cogin is superintendent, and P.S
Holden assistant superintendent.
No use stopping to oulogize any of
this mill. The wonderful result does
that,
The present Augusta. water power
IS between four aud five thous apds
horse power. Tho capacity is suffi-
cient if you add that which might be
saved by night to run eight fact cries
like the "Augusta Factory"
THE GRANlTEYlLLE FACTORY.
1 found President H. II, Hickman,
like President jackson, exceedingly.
courteous, and willing to give me any
facts desired, My main object beipg
simply to convince those who have
taken stock in the Atlanta factory,
and those wLo may be oanvassiug the
wisdom of manufacturing our cotton
ut home instead Of shipping it to
Massachusetts, aud bringing the
manufactured material back, that
they had botter not stop to weigh the
matter longer, but 90 to work, / only
interviewed him with reference to its
paying. | learned that previous, to
tho war tho capital Of this company
was about $4S5,000. During the war
80 per cent, was. divided in scrip, in.
c,reasing the capital to $7l6,50O. :, =.
e lu 1867 Mr.. Hickman was elected
'President; ss . en- - The company was in
debt. 1000, and paying twelve per
cent. interest for it.. The assets were
not oyeghalf this amount. The fac.
tory waS'badly run down ). tho ma.
ohinery was out of order. No im-
provoments had been made during
the war except to build q ware-room
bn 1868, $50, no, III aud 1872, 8 per
cont dividends were daid; in '73,
IOper cent. in IA, Is per cent. !;
In rs, liz per cont. and, in add;"
tion, he paid $l53,9o9.25 for l,l60
sharos of the stock and cancelled it.,
reducing tho capital Sll6,OOo, and
he rebuilt forty operatives houses
aud almost rebuilt many of the old
ones, besides spending about $780,
600 on the mill, Increasing tho pro.
duction of the same from 100000
yards to 2l7,000 yards per week.; aud
ne now has cash capital of $500, 900
over and above paying past dividends,
for the improvements and oancella.
tion of the above stock. This stock
is now rated at $3.50 por share
without share on the market.
sp'NDLEs, LOOMS, &C., IN THE rAcEonY.
Number of spindles, 90, ZOO, three
fourths of which arc the mule the
balance are of the ring variety. Tho
former do not produce as much az the
latter. The number Of looms is 584.
In 1874 3,676,892 pounds, or 8l7l
bales, of cotton wero manufactured
and l0,536,50O yards of cloth made
This factory is eleven miles from
Augusta, on Horse Crock, but il
managed and controlled by President
Hickman Of that CITY. :
Langley Manufacturing Company
factory is also on Horse Crook, eight
milos from Augusta.
called on its President, William
9. Sibloy, who, like tho other gentle.
mon, at once took down his books and
willingly gavo me the desired infor.
nation. And just bore | deom it
due to each of these splendid busin oss
men to say that they were not only
generously frank, but each speaks Of
the othor in tho highest torms of
praise. jealousy and illiberality is
emily exhibited in q small soi,,od
business man. =.
4 The Langley Mil, President s.
said, was put in full force April /.
1872 tthree years ago. The capital
was 100000, though $4ll,l92 was
expended, upon which two annual
dividends have been paid of ten per
cent. each. After charging to profit
and loss the above $ll,l92, thoy
nave now surplus of Sll2,66S,
which, if divided, would give over
273 por cent. moro to tho stockhold.
ers, and if tho $ll,l92 wcro Included
which is in realty profit, even larger
dividend.
This is tho result of mill of lO..
600 spindles and 328 looms in throe
years, with over half tho operators
now hands that had to be taught the
work. In this connection + learned a
very important fact whsch most ,strik.
lngly proves what factory will do
towards developing and building .up
place. This mill employs 325 per-
sons, and there is now in the immedi.
ate vicinity of this mill population
OF eoo persons, whore three years
ago thore wore not a half dozen souls, !,
and If it had not boon for the factory
there would have been no more.
This mill consu med 5000 bales of
cotton or 2,279,9l9 pounds of cotton
last yoar. Number of yards of cloth
made in Is74-5,7l5,5l7, of which
3'l45,OOo was id goods. The spooi.
mons soon wore splendid, having i've
shreads to the inch, moro in the fillina
tale. ~
These mills were all run dnrinp The
past year on full time. ,..