The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1876-07-06
THE STAR OF EMPIRE.
It's Southwark CoUrse-An Eng
lish View of American Cotton
Mills.

me subIectmatteF of the accOmpan Y
ing article is of paramount interest to
the Southern people, and especially at
this time when our business affairs de-
maDd the establishment of home manu-
featuring enterprises. Our sister State,
Georgia, is rising majestically out of
the ashes of our late struggle by reason
of the selG-reiant manufacturing spirit of
her in iomitable people. A like path is
opened up to Tennessee to enter and
reap the fruits of an enlarged wealth
and in the development of her vast and
varied material resources.-EDIToR.l
The Nav York correspondent of the
London Standard supplies some particu-
lars as to the cotton manufacture in the
Northern and Southern States of Ameri-
ca, 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 Ii lis, which have
been adduCed to prove the proGtableness
of 4 OrtheTn manu- factures. l give these
Mills, with a capital of S430, 900, made
an average profit of 2J.6 per cent. during
the period from 1862 to IS7I-the period
of the six calculations. The Salisbury
Mills, with a capital of 100000, made
profit of %. 5 per cent; the Pacific, cap
ital S2,5O0OO0, made 21.25 per cent; the
the Naumkeag, capital 81 100000, made
l9 % per cent; the MerTimec, capital
8, so 900, made I5.5 per cent; and
the MIddlesex, capital $4,000, made
1875 per cent. These profits, leaving out
the calculation the capital inves ted, show
an average per centage of 1898. But
the result Is pretty nearly correct, as We
see two facts of opposite ohaTacter-
namely, that the largest profits come on
the smallest of capital, and that the
amount of capital that made above the
general average is largely in excess
nearly double, in fact-that which fell
b3lOw it.
Secondly, as to the South. l have 10
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 30 to 40 per eent.-say, thes average
So. The Petersburg Mills are said to
yield profit of % per cent the Lang
ley Mills over % per cent; the Augusta
Mills over 90 per cent; the Columbus
Mills, the largest probably in the South.
| drumming 80, 900 spiRdles and 900 looms),
over 20 per cent; and the Tallahassee,
20 per cent. These six average, as
| above calculated, profit of over 62 per
cent. This, it must be remembered,
has been mainly since the financial
crisis of September, 1873, during which
time many of the Northern mills have
| been running oa half time. These facts,
so far as they constitute any comparison,
| tell very strongly in favor of the greater
| profits of the Southern over Northern
mills. The per cent proht are-North-
ern, in prosperous times, 179S; South
| ern, in times of great financial stringen-
| oy, "a. But, as | intima ted above, the
facts here given, while l believe them to
be honestly estimated, and very close
| TO the truth, are not to be taken strictly.
Thirdly, as to the one mill m entinned
above, ] have specific and tru stwOrthy
| statements. The Mill is the Granite
vile Manufacturing Company, located
! in South Carolina. Mr.. II. Il. Hick-
man, President, has just published his
annual report, and it is from this that l
| take the following details: The capital
| stock of the company Is six hundred
| thousand GOO, ,000) dCEArs; and the net
profits for the year ending on the 9th of
| February have been SII4, ,58S, which is
| I0.0S per cent. on the capital stock.
| President Hickm states that the trade
! of the country in all its departments has
not yet wholly recovered from the de-
preston of the 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
| Granitevile ran without interru PtiOn.
| The profits from sales of goods in New
| York were s44, $40; from domestic sales
! 81, ,799; from sales of waste Sl5 1868;
| from rent S595-in all, Sl33 ,2S7. The
amount at credit of profit and loss ac-
| count has been reduced by the sum of
| SIS,699 and by subtracting the amount
| from the gross profits above given, the
remainder is $Il4, $50, which shows the
| net profits, namely 1909 per cent on the
| capital stock. The consunptiOn of cot
/ ten during the year amounted to 3 ,676,-
! 892 pounds, or 8,I7l commercial bales,
/ $50 pounds each, of the value of S52S,-
/
/ The cotton used was made into 259, 1926
pieces of cloth, in I0,5 ,536, 500 yards, a
piece being about 40 pards This is an
| increase of l7O,036 pounds of cotton,
+ 4,755 pieces Of cloth, and 1913 500 yards
over the preceding year. They have IN
store 1855 bales, or 834, 4,75O pounds,
which cost an average of 1856 cents a
pound less than the preceding year 5
| prices.
Fourthly, as to the reasons for the
! greater profits of the Southern manufacs
turers. Prominent among these is the
fact that they have cotton at their doors.
| The Transportation from the South to,
! say Lowell, the center of the Northern
manufactures, costs, for freight, IS; for
commission on purchase, 8 50; for in
surance, so cents; and for exchange and
/ shipping expenses and truckage, 65 cents;
! IN all, S765. Now bale Of 4j0 pounds,
at Is cents pound, is $67.50 bale, and
! $7.65 for expenses incidental to trans
portation deducted is q deduction OF
more than II 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 SIS
pounds, and this from $50 leaves 1925
as the bale of fibre. Now, S7.G5 cents