The weekly herald. [volume] (Cleveland, Tenn.) 1876-1888, 1879-06-26

shall be given. They Will not retire
from their position, which they believe
to H. just and right. When The strike
comes they viii shut down altogether
a. the only alternative, throwing oft
an army operatives. Such 4 thing al
acceding to the demands Of the spln-
ners, they say, is utterly out Of the
question, and their reasons for no. sub
miding the matter TO arbitration are
clearly put in their reply to the COM
iuitiee of the spinners published Il few
days ago, aud they consider them am
pie. They deem themselves, in view
OF the spinners action, the locked out
parties, but they think they can stand
locking u much better than can their
hands.
The difference between masters and
men, out Of which the present trouble
has grown, is as to the extent ami char
acier Of tile present apparent prosperi-
ty. The men say it Is sufficient to war
rant the restoration Of the IL per cent.
taken from their wages on the LIST of
April OF last year, which was promised
with returning prosperity, aud the
masters say 1t is not. The latter insist
that they have not recovered from the
shock Of the psnic and the long season
of depression and loss, and that the
present apparent prosperity does not
return them the profit supposed.
A setting forth Of the recent business
of the mills and the experience of Fall
River manufactures is given, rs fol-
lows: The stockholders of the Border
City Mills, with a capital OF ! 1000, 900,
have lost the whole Of il; not a cent Is
left. The mills remain, but they are in
hands of the creditors, not siockhold-
ers. The Sycamore Mill sunk the
whole Of its capital, $500, 900, and then
100000 more was put in and sunk.
The Union Mill, with u nominal capi-
tai Of $4,000, but with property
worth $500 600 at least, has lost all.
The Tecumseh Mil has sunk so per
cent. Of its capital. The capital was
$780, 900, and the loss is 800, 900. The
Robson Mills, with a capital Of $3.50,
coo, have sunk co Ter cent. the loss.
being $780, 0o. The Fail River Prin.
Works, Il cotton mill under that name
recently went into bankruptcy; capt
tai 200, eco; al 4 dead loss. The Mon
tank Mills had asacapilal of $4,000, Il
dead loss. The American Print Works
have lost a capital Of 81, 600, 0O0; that is,
the Indebtedness will take al the prop
erty. The losses OF the othes mills in
stock are equal to one-third at lsSst.
The actual known loss, not jucluding
the depreciation Of the stock IT, other
mills, is $l,jOG, 600, of which $1,000, GOO
is by the people ofFall River and im-
mediate vicinity. Suppose the spinncrs
and operatives.h had been working upon
the principal cooperation, they would
have shared in these losses. As it has
been, they have been exempt, not in
deed from loss, bat from anything neal
as much as they woui1 have suffered
had they Incurred a proportionate share
of lnjury from the depression of busi-
ness that has to a great extent caused
the losses.
The financial strength which the
spinncrs claim to possess, with which
to mcetthc vicissitudcs of a long con-
tinued strike, is questioned. The silk
ers have pledged themselves to SELF
support for three weeks, without call
upon the Union, and it is claimed
hat the resources of the Union are suf-
icient to maintain the strikers for twoI
months. These resources, however.
consist largely of promises Of aid, the
'llfllmcnt Of which will be necessary
o their realization. There is general
of depression throughout the
'ity, and a season of hard trials and
suffering is feared.