Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1879-05-13
THE BIGGEST COTTON PLANTER
A Man Who Has Nineteen Plantations
And Grows 10000 Bales Annually.
Jackson Miss Cor. Chicago Tribune.l

Il INDc lOu OOA 4 hn0W tAAN L w
built myself a %gravestone. Wal, it's
a fact. I've put $4,000 into it. |
think it's prudent for a man to be his
own administrator. That's the reason
I've built my gravestone for $l7 900
cash before | died"
The speaker was Edward Richard
son, of jackson, Miss,
THE MOST ACTIVE AND INFLUENTIAL
BUSINESS MAN IN MISSISSIPPI,
if not in the South. He unused a
moment, and continued with "a
chuckle:
did you ever hear what Tom
Young said about my ~gravestone?
Tom had taken an extra toddy, and he
looked at my statue-I have a life-size
statue on the top of my gravestone-
and he said: There's old Ned Rich
ardson, by heaven, with one eye on the
p%enitentlary and the other on the
capitol
Old Ned Richardson is constantly
after convict labor, and he is reputed
to be the proprietor of the legislature
when he wants to be, and his statue
faces the capitol and penitentiary, as
Tom Young said it did.
Mr.. Richardson lives in jackson,
but he has property interests all over
the State. He owns nineteen planta-
tions in the marvelously rich river
country above Vicksburg, including
parts of Washington and Issaquena
counties and the YaZoO districts. He
has $4,000 acres under cultivation
1900 of them in cotton. lie raises
above 10000 bales, or 45,000,0O0
pounds of cotton annually. He has
5000 acres in corn and oats, for the
support of his stock and his people.
And yet he has not land enough.
Whenever a planter is hard up, and
wants to sell his place for cash, he APP
plies first to old Ned Richardson,
knowing that from him he will get a
cash offer, though a low one. | heard
Mr.. Richardson offer the owner Of a
plantation $4,000 cash for land which
the owner valued at $4,000; and,
though the offer was at first refused,
| was under the impression that it
would ultimately be accepted. Nor is
Mr.. Richardson's distinction de-
rived only or solely from his plan
tations. 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 snuff, all the other
brokers sneeze. As member of the
first firm in point Of volume of bust
ness, he receives and disposes of more
than 100000 bales of cotton annually.
lie 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 a fraction, he kept
back the bulk of his crop. He has
sold most of it since February. Last
week he let a let go for eleven and
twelve cents. He has still 100 bales
back, on which he expects to realize
over thirteen cents, as cotton is ad-
vancing. If | hadn't waited" said
Mr.. Richardson, Il would have quit
loser on the year. But I'll make a
little something on last years crop.
and. if the indications 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.. Richard
son was not boasting. These state
ments were pried out Of him by ques-
tons on other points. His shrewd-
ness as a cotton dealer is evidenced.
moreover, by the fact that, while he
is selling at the highest price, he
bought at the lowest. A chief own
er Of
THE COTTON AND WOODEN MILLS
at Wesson, Miss. in which he now
10000 spindles and is putting in
5000 more, he has to buy 1890 to 400
bales cotton annually near the mills.
when he does not plant himself. All
this was put in at eight cents and q
fraction per pound. If it could be
sold now the profit on it would be
about $50, 1000. This would make it
worth while to close the mills. but for
the throwing Of the operatives out of
employment. 1t is not a simple thing
here, where new hands would be hard
to obtain, to shut down work and let
the operatives 60; and on this ac-
count Mr.. Richardson has not at
tempted to reduce wages during all
the hard times. He says, indeed.
that
THESE COTTON MILLS ARE PROFIT
ABLE,
and there is consequently no reason
why wages should be reduced. The
mills return about 12l per cent. regu-
larly on the capital invested. The
cotton they use is all bought at the
door, and costs usually two and a
fraction cents less per pound than that
used 10 Massachusetts,. At the ordi-
nary price Of cotton last year this
would be a difference of % per cent.
in favor Of the South. The labor
here is also cheaper and wherever
the capital can be obtained at reason
able rates such enterprises, in the
opinion of Mr.. Richardson, are al
ways bound to succeed.
Their success would mean more, he
believes also, than the profit of a few
fortunate individuals. If there were
as many cotton mills in Mississippi in
proportion to population as there are
in Massachusetts,, the labor problem
would be solved. There would be a
place to use labor which cannot now
be employed in the field. Poor whites
and members of the negro family who
are now burdens Of the community
would be
BREAD-WINNERs.
Mr.. Richardson cited a number of
instances Of absolute paupers, white
and colored, who had become self
sustaining in his mills, and asserted
that 435 out of the $50 employed
| fbaroft4 ,r,,ll - L.. l. e.