The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1876-07-27

:
Company, located in South Carroll
ma. Mr. II. H. Hickman, President
has just published his annual re-
port, and it is from this that I take
the following details: The capital
stock of the company is six hun
dred thousand (6OO,OOo) dollars;
and the net profits for the year end
ing on the 27th of February have
been $I14,58S, which is 1909 per
cent. an the capital stock. Presi-
dent Hickman states that the trade
Of the country in all its depart
ments has not yet wholly recovered
from the depression of the panic of
1878. 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
Graniteville ran without Interrupt
ton. The profits from sales Of
goods in New York were $44, $40;
from domestic sales S71,799; from
sales of waste SI5,O63; from rent
S595-in all, S183, ,2S7. The amount
at credit of profit and loss account
has been reduced by tAe sum of
SIS, S,699; and by subtracting the
amount from the gross profits
above given, the remainder is $1I4,-
58S, which shows the net profits,
namely, 1900 per cent. on the capt.
tai stock. The consummation of
cotton during the year amounted to
3,676,S92 pounds, or Sill CONNER
cial bales, 450 pounds each, of the
value of S52S,6O2, an average of
l43S cents per pound. The cotton
used was made into 259,S26 pieces
of cloth, in 1886, 500 yards, a piece
being about 40 yards. This is an
increase of I7O,O36 pounds of cot
ton, 4,755 pieces of cloth, and 1885,
400 yards over the preceding year.
They have in store. 1850 bales, or
S34, $50 pounds, which cost an aver
age ofI3.66 cents a pound1ess than
the preceding years prices.
Fourthly, as to the reasons for
the greater profits of the Southern
manufacturers. Prominent among
these is the fact that they have cot
ton at their doors. The transpor-
tation from the South to, say Low
ell, the center of the Northern man
ufactures, costs, for freight, So; fol
commission on purchase, S1.50; fol
insurance, 80 cents; and for eX.
change and shipping expenses and
trucka9e, 65 cents; in all, $7.65
Now, a bale of $50 pounds, at II
cents a pound, is $3.50 a bale, and
$3.50 for expenses incidental tC
transportation deducted is a deduc
ton of more than IL per cent. oi
the capital invested. But this is
not all. OF the $50 pounds in a
bale the waste is always calculated
at Is per cent, which is 67.5 pounds
and this from $50 leaves 1929 as
the bale of fibre. Now, $7.65 cents
for transportationSs 1888 per cent
T of the whole value, and this is the
disadvantage with which the Lowell
manufacturer begins his work. Il
costs him then $I.41 bale - get
the cloth to New York, the common
market. 1t costs the Southern
manufacturer, at Augusta, say
$2.44 to ship his cloth to the same
market. But, by referring again tC
President Hickman 5 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 il
New York. He has to pay the $2.44
freight on only 80 per cent. of his
cloths, while the Lowell manufact
urer pays his $1.41 on all Of his
Another point Of economy to the
Augusta manufacturer is the cheap
er labor he can command. He hal
NJ fear of strikes, as his brother il
Lowell has to deal with every
month. Food and firewood arc
both cheaper, and far less of the
latter is required.