The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1879-07-10
A MILLIONAIRE PLANTER.
Who Controls tho New Orleans Cotton
Market.

mississippi, but he has property Interests
oil over the State. He owns ninetcer
plantations in the marvelously rich river
country above Vicksburg, including
parts of Washington and Issaquena coun,
ties, and the Yazoo district. lie has 49,.
600 acres under cultivation, 5000 OF
them in cotton. He raises about 1O,OOC
bales or $4,000, 900 pounds of cotton an.
nually. lie he's 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
applies first to old Ned Richardson
knowing that from him he will get cash
0lier, though low one. 1 heard Mr..
Richardson offer the owner of planta-
ton $4,000 cash for land which the lat.
ter valued at $4,000; and though the
offer was at first refused, was under the
impression that it would ultimately bo
accepted. Nor is Mr.. Richardson's dis
tinction derived only or solely from his
plantations. He controls the cotton
market to higher degree than any other
living man: He is the "Old Hutch"
OF New Orleans. When he takes snuff
all the other brokers snceze. As ne
Der OF the first firm, in point of the vol.
umc of business, he receives and dispose,
OF more than 10000 bales of cotton an.
nually. He is the heaviest exporter.
lie has constantly the largest supplies
on hand. For instance. when cotton
sold, soon after the crop was marketed
ior eight cents and fraction, he kent
back the bulk of his crop. He has sold
most Of it since February. Last week
nc let lot GO for II and ~ cents. lie
has still 100 bales back, on which he
expects to realize over 13 cents. "If /
hadn't waited" said Mr.. Richardson. "I
would have quit loser on the year. Bat.
III make little something on lsst
years crop, and, if the indications for
THIS year don't fail, or this exodus don't
o,eak i',eo o things, ought to clear $4,000 to
Sl0o,0OO OH this year" Mr.. Richardson
was not boasting. These statements
we're pried out Of him by questions on
other points. His shrcwdness as a cotton
Gealer is evident, moreover, by the fact
that, while hn ;s selling =. ;,,;s ;,;r;,,.,;
price he bought ut the lowest.
AS chlefnwner of the cotton and WOODEN
mills ut Wesson, Miss, in which he nov
rvs 10000 spindlcs; aud is putting in
9,',G more, he has to buy 1890 to 400
'iles OF cotton annually near the mills.
when lie does not plant himself All
'iiis was put in at cents and fraction
per pound. If it could be sold now. the
PIoht on it would be about S35 900.
ihls would make it worth while to close
inc mills, but for the throwing of the op.
eratives out Of employment. 1t is not
simple thing here, where new hands
would Dc hard to obtain, to shut down
~ork ana let the operatives 60; and on
this account MIR. Richardson has not at.
tempted to reduce wages during all the
hard times. lie says, indeed, that these
COTTON mills arc profitable. And there is
consequently, no reason why wages
should be reduced. The mills return
noo.t ia per cent. regularly on the cap
i'al invested. The cotton they use is all
oought at Inc door, and costs usually two
,tnu .,Ia traction cents less per pound than
tiiat used in Massachusetts. At the or
would be Il difference of 25 per cont in
favor Of the South. The labor bere 10
also cheaper; and wherever Tia cnnitaI
can be obtained Mt reasonable rates. such
enterprises, i'll the opinion of MIR. Rich
ardson, are always bound to succeed.
Their success would mean more, he be-
ileve5 also, than the profit of n few for.
tunate individuals. If there were as
many cotton mills III Mississippi, in pro-
Portlon to population, as there are in
Massachusetts the labor problem would
DC solved. There would be a place to
use iapor which cannot now be employed
IN Tie held. Poor whites and members
OF Tue negro family, who are now bur-
dens on the community, would be
bread-winners. Mr.. Richardson cited n
number OF Instances of absolute paupers
VINO had become sclf-sustaining i'm 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. I
asked why the mills were put at a dis.
tance. from the river, apparently Mt an
out t-of.thc-way place. The answer was
that they were then in the midst of
rich wool growing section. The mills
use 1900 to 400 bales Of wool, or G00,-
ooo TO 100000 pounds; and all the wool
as well as all the cotton, is brought to the
door Oh wagons, from tho neighboring
country. Jeans, striped o,ttons and
brown goods are the principal products
Mr.. Richardson owns cotton seed oil
mill on the Mississippi, and has many
otncr small IRON in the fire. but these
only DO, rs Col. Sellers says, "for side
Investments" to keep his money en-
ployed. He is reputed to be worth from
$4,000, 900 to S5,000,OOO, and though he
and his partner at New Orleans have
81, 100000 already advanced OH the grow
ing crop, they have still left more money
than they know how to employ. They
are frightened away from government
bonds by the prospect of only per cent,
but they are after Investments that will
yield 10 to II per cent Correspondence
Chtcayo L7ome.