The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-05-20
GOLD NED" RICHARDSON.
Man Who Has Nineteen Planta-
tions and Grows 10000
Bales Annually.
What He Thinks Of the Exodus, the Con-
vention and the Remedies Proposed.
FChicago tribune.

RChicaRo vribune.l
JACKSON. Miss, May T." P'raps you don't
know that I've built myself n gravestone
Wal, it's TACT. I've put $4,000 into 1t.
think It's prudent for man to be his own
administrator. itts business. And IN going
tn be my own administration That's the rem
son I've built my gravestone Tor $4,000 cash
before die"
The speaker was Edward Richardson. Of
jackson. Miss, the most active and lniinen-
tial business man in Mississippi, " not In the
South. He mus, d o moment, and continued
with chuckf
ibid W ever hear what Tom Young said
about my grevestonel Tom had taken IN OK
tra toddy and he looked at my statue have
life-size statue on the top Of my grayestone
and he said, said Tom. There's old Ned
Richardson by heaven, with one eye on the
pententiary and the other on the capitol
Old Ned Richardson is constantly after CON
Wet labor, and he is reputed TO be the proprl-
etor Of tho Legislature when he wants TO be,
and his ftatue faces the capitol and the peni-
tentIary az Tom Young said II did.
Mr. Richardson lives In jackson, but he has
property interests all over the State. He
owns nineteen plantations, in the marvel
lorsly rich river country above Vioksburg,
including parts Of Washington and lssnquena
counties and the Yazoo districts He has
1900 acres under cultivation 10000 Of them
III cotton. He raises above 10000 bales or
100000 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 ap-
plies first 70 old Ned Richardson, knowing
that from him he will got o cash offer, though
u low one. / heard Mr.. Richardson offer the
owner Of plantation $1,000 cash for land
which the latter valued Mt $4,000; and
though the offer was ut first refused, was
under the impression that II would ultimately
be accepted. Nor Is Mr.. Richardson's dis
Tom nr nn1u hia r,ta
tations. He controls the cotton market to q
higher degree than any other living man.
He Is
THE ''oLD HUTCH" or NEW ORLEANS.
When he takes snuff all the other brokers
sneeze. As 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 Ia the heaviest exporter He
has constantly the larg st supplies On hand
For instance, when cotton sold, soon after the
ton, he kept back the bulk Of his crop He
has sold most of 1t since February Last
week he let a lot go for eleven and twelve
cents. He has still 100 bales back, on which
he expects to realize over thirteen CENTS as
cotton is advancing, If hadn't waited"
said Mr. Richardson, II would have quit loser
on the year. But Ill make a little something
on last years crop, and. II the indications for
this year don't fail, or this exodus don't
5000 5000 ' on this year, Mr.. Richardson was as
not boasting. These statements were pried
out of him by questions on other points. His
shrewdness rs a cotton dealer iS evidenced,
moreover. by tho fact that while he II selling
at the highest price he bought at the lowest.
As chief owner OF
THE COTTON AND WOODEN MILLS
at Wesson, Miss, in which he now runs 1o, 900
spindles and is putting In 5000 more, he has
to buy 1900 to 400 bales of cotton annually
near the mills, when he does not plant him
self. All this was put IN ut eight cents and Q
fraction per pound. II 1t could be sold now
the profit on 1t would be about 200. This
would make 1t worth while to close the mills,
but for the throwing of the operates out Of
employment. It Is not simple thing here,
where new hands would be hard to obtain, to
shut down work and let the operatives 60;
and on this account Mr.. Richardson has not
attempted to reduce wages during oil 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
invested The cotton they use Is oil bought at
the door, and costs usually two and q fraction
cents less per pound than that used In Mas
sachusetts: AT the ordinary price Of cotton
cent In favor of the South. The labor here is
also cheaper; and wherever the capital can
be obtained at reasonable rates. such enter
prise, in the opinion of Mr.. Richardson, are
Always uuNHu w 5uGIEfH.
Their success would mean more he believes
also, than the profit Of few fortunate ndi
viduals. 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 family who are now burdens on the
community would be-
BREAD WINNERS.
Mr. Richardson cited number Of instances
Of absolute paupers, white and coored,
who had become self-sustaining In
his mills, and asserted that 435 out Of the $50
employed therein would have done nothing
Tor their own livelihood If they had not been
offered these situations.
] asked why the mills were put at a dis
lance from the river, apparently at an Out-of-
the-way place The answer was that they
were then In the midst of a rich woo-growing
section The mills use 1900 to 400 bales OF
wool, or 100000 to 100000 pounds and all the
wool, as well as all the cotton, Is brought to
the door On wagons from the neighboring
country. Jeans, striped cottons and brown
goods are the principal products Of the mills.
Mr.. Richardson owns a cotton seed oil mill
on the Mississippi and has many other small
Irons in the fire; but these only do, as Col
Sellers says, 'for side Investments" to keep
his money employed. He Is reputed to be
worth from $S,0OO,000 to 5000 600, and though
he and his partner at New Orleans have
Sl,400.000 already advanced On the growing
crop, they have still left more money than
they know how to employ. They are fright
ened away from government bonds by the
prospect of only 4 per cent, but they are after
Investments that will yield 10 to II per cent
REV MIR RRIATOR,S IF(vTTrRF