St. Landry democrat., 1879-07-12
THE SOUTHERN CRESUS.
" Old Ned RichardaOn.' nhe Man VINE
Grows IO,O 600 Bales of Cotton.

| Mississippi Cor. Chicago Tribune
Mr.. Richardson lives in Jackson; but
he has property interests all over the
state. He owns nineteen plantations in
the marvelously rich country above
vicksburg, including parts of Washing
ton and Issaquena counties in the Yazoo
districts. He has $4,000 acres under
cultivation-15,OOO of them in cotton.
He raises 10000 bales, or 100000
pounds Of cotton annually. He has
5000 acres in corn and oats for the sup
port OF his stock and his people, and
yet he has not land enough. Whenever
planter is hardAup, and wants to sell
his place for cash, he applies first to old
Ned Richardson, knowing that from him
he will get a cash offer, though low
one. I heard Mr.. Richardson ofer the
owner OF a plantation $4,000 cash for
land which the latter valued at SIS 900 !;
and, though the Offer was at first refused,
| was under the impression that it would
ultimately be accepted. Nor is Mr..
Richardson's distinction derived only or
solely from his plantations. He controls
the cotton market to a higher degree
than any other living man. He is the
"Old Hutch" of New Orleans. When he
takes snuffali the brokers sneeze. As mem
Der of the first firm in point of volume OF
business, he receives and disposes of
more than 00,0O0 bales of cotton annu,
ally. He is the heaviest exporter. He
has constantly the largest supplies on
hand. For instance, when cotton sold
soon after the crop was marketed for
eight cents and fraction, he kept back
the bulk of his crop. He has sold most
of it since February. Last week he let
lot 60 for II and ~ cents. He has still
1000 bales back, on which he expects to
realize over 13 cents, as cotton is ad>
vancing. If I hadn't waited said Mr..
Richardson, i would have quit loser on
the year. But I'll make a little some
thing on last years crop, and, if the in
dications for this year don't fail, or this
exodus don't break things, l ought to
clear $4,000 to 100000 on this year.
Mr.. Richardson was not boasting. These
statements were pried out of him by
questions on other points. His shrewd.
ness as cotton dealer is evidenced,
moreover, by the fact that, while he is
selling at the highest price he bought at
the lowest. As chief owner of the cotton
and woolen mills at Wesson, Mississippi,
in which he now runs 10000 spindlss,
and is putting in 5000 more, he has to
boy 4,300 or 4,40O bales of cotton
near the mills, when he
does not plant himself. All this
was put in at eight cents and traction
per pound. If it could be sold now the |
profit on iG would be about $4,000. |
This would make it worth while to close
the mills but for the throwing OF the op-
erstives out OF employment. 1t is not
simple thing here, where new hands
would be hard to obtain, to shut down
work and let the operatives go; and on
this account Mr.. Richardson has not at
tempted to reduce wages during all the |
hard times He says, indeed, that these
cotton mills are profitable. And there is
consequently no reason why wages should
be reduced. The mills return about 124
per cent. regularly on the capital invests
I'D. The cotton they use is all bought
at the door, and costs usually two and
raction cents less per pound than that
lsed in Massachusetts. At the ordinary
price OF cotton last year this would be
difference of twenty-five per cent. in
avor of the south. The labor here is
slso cheaper; and wherever the capital
IAN ba obtained at reasonable rates, such
in the opinion of Mr.. Rich
'rdson, are always bound to succeed.
Their success would mean more, he be-.
ieves also, than the profit of few for.
unate individuals. IF there were as
many cotton mills in Mississippi in pro-
portion to population, as there are in
Massachusetts,, the labor problem would
70 solved. There would be a place to
lse labor which can not now be EN-.
'loyed in the field. Poor whites
nd members of the negro family who
re now burdens on the community,
would be bread>winners. Mr.. Richards
on cited pumber of instances of sbso.
ute paupers, white and colored, who had
'ecome self'sustaining in his mills, and
sserted that 4S5 out of the $50 employ.
d therein would have done nothing for
heir own livelihoodit they had not been
ffered these situations. l asked why
he mills were put at distance from the
iver, apparently at an out-of>the-way
lace. The answer was that they were
n the midst of rich wool growing sec
ion. The mills use 1900 to l 400 bales
t wool, Or 100000 10 100000 pounds;
nd all the wool, as well as the cotton,
, brought to the door on wagons from
he neighboring country. Jeans, striped
ottons AID brown goods are the princi>
al products of the mills. Mr.. Rich
rdson owns q cotton.seed oil mill on
he Mississippi, and has many other
mall irons in the fire; but these only
o, as Col. Sellers says, for side invest. I
lents,' to keep his money employed.