The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1879-07-05
THE SOUTHERN CRGsUs.



GROWS 10000 Hale. OF Cotton.
Mississippi Dor. Chicago Tribune
Mr.. Richardson lives in jackson; but
no 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-15,000 of them in cotton.
He raises 10000 bales, or $4,000, 900
pounds of cotton annually. He has
5000 acres in corn and oats for the sur-
port OF his stock and his people, and
yet he has not land enough. Whenever
q planter is hardAup, aud wants to sell
his place for cash, he applies first to old
Ned Richardson, knowing that from him
he will get cash offer, though low
one. / heard Mr.. Richardson ofer the
owner of plantation $4,000 cash for
land which the latter valued at $15, 900;
snd, 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 snuffall the brokers sneeze. Asmem
Der of the first firm in point of volume OF
business, he receives and dispeses of
more than 100, 600 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 go for IL and IL cents. He has still
1000 bales back, on which he expects to
realize over Is cents, as cotton is ad-
vancing. IF ] hadn't waited said Mr..
Richardson, I would have quit loser on
the year. But PHI 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, ought to
clear $50, 900 to 800, 900 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 il
selling at the highest price he bought at
the lowest. AS chief owner of the cotton
and wooden mills at Wesson, Mississippi,
in which he now runs 10000 spindIss,
and is putting in 5000 more, he has to
buy 1890 or 400 bales of cotton
annually near the mills, when he
does not plant himself. All this
was put in at eight 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 OF the OPP
eratives 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 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 123
per cent. regularly on the capital invest.
ed. The cotton they use Is all bought
at the door, and costs usually two and q
fraction cents less per pound than thai
used in Massachusetts,. At the ordinary
price of cotton last year this would be q
difference Of twenty-five per cent. in
favor of the south. The labor here Il
also cheaper; and wherever the capital
can be obtained at reasonable rates, such
enterprises, in the opinion of Mr.. Rich
ardson, are always bound tn succeed
Their success would mean more, he be
lieves also, than the profit of few for
tunate individuals. If there were n
many cotton mills iD Mississippi In pro
portion to population, ~ there are In
Massachusetts,, the labor problem would
be solved. There would be place u
use labor which can NOT now be EN-
ployed in the field. Poor whites
and members of the negro family who
are now burdens on the community
would be bread-winners. Mr.. Richard
son cited plumber of instances of sbso
iute paupers. white and coIored, who hal