The New Bloomfield, Pa. times. (New Bloomfield, Pa.) 1877-188?, 1879-07-15
THE KING OF PLANTERS.

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built myself gravestone. Wal, it's q
fact. I've put $17 900 into 1t. think
it's prudent for man to be his own adj
mlnistrator It's business. And Pm
going to be my own administrator.
That's the reason I've built my grave
stone for $17 900 cash before died"
The speaker was Edward Richardson,
of Jackson, Miss, the most active and
influential business man in Mississippi,
If not in the South. Mr.. Richardson
lives in Jackson, but he has property
interests all over the State. He owns
nineteen plantations in the marvellously
rich river country above Vicksburg,
including parts of Washington and
Issaquena counties and the Yazoo dis
tricts. He has $4,000 acres under cult
vation--15, 900 of them in cotton. He
raises above 10000 bales or 45,000,000
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 planter is hard up, and
wants to sell his place for cash, he APP
plies first to old Ned Richardson, know
ing that from him he will get a cash
offer, though low one. / heard Mr.
Richardson offer the owner of planta-
ton $4,000 cash for land which the
latter valued at $15,000 and though
the offer was at first refused, was un-
der the impression that it would ulti-
mately be accepted. He controls the
cotton market to a higher degree than
any other living man. When he takes
snuff all the other brokers sneeze. AS
a member of the first firm in point of
volume of business, he receives and dis
poses of more than 100000 bales of
cotton annually. He is the heaviest
exporter.
Last week he let lot go for II and 12
cents. He has still l 100 bales back, on
which he expects to realize over 13 cents,
as cotton is advancing. "If L hadn't
waited, said Mr.. Richardson, "I would
have quit loser on the year. But I'll
make little something on last years
crop, and if the indications for this year
don't fail, or this exodus don't break
things, ought to clear $4,000 to $780,
600 on this year."
Mr. Richardson was not boasting.
These statements were pried out of him
by questions on other points. His
shrewdness as cotton dealer is evidenc-
ed, 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,
Miss, in which he now runs 10000
spindles and is putting in 5000 more,
he has to buy 4,300 to 4,40O bales of
cotton annually near the mills when he
does not plant himself. All this was
put in at cents and fraction per
pound. If it could be sold now the
profit on it would be about $4,000.
This would make it worth while to close
the mills, but for the throwing the
operatives out of employment. Mr..
Richardson has not attempted 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 12t per cent.
regularly on the capital invested. The
cotton they use is all bought at the door,
and costs about two and fraction cents
less per ib than that used in Massachu-
sets. AT the ordinary price of cotton
last year this would be a difference of
20 per cent. in favor of the South.
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 place to use labor which cannot
now be employed in the field. Poor
whites and members of the negro fami-
lies who are now burdens on the COM
munity would be bread winners. Mr..
Richardson cited number of instances
of absolute paupers, white and colored,
who had become selfsustaining in his
mills, and asserted that 435 out of the
$50 employed therein would have done
nothing for their own livelihood if they
had not been offered these situations.
L asked why the mills are put at dis
tance from the river, in apparently an
the-way place. The answer was
that they were then in the midst of q
rich, wool-growing section. The mills
use 800 to 400 bales, or 900, 700 or 7O0,-
600 pounds; and all the wool, as well as
all the cotton. is brouoht To the door on