The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1879-06-05
THE SOUTHERN CRGsUs.
80 Old Ned Bichardson.- the Man who
Grows 10000 BaIes of Cotton.

Mississippi Cor. Chicago Tribune.
Mr.. Richardson lives in jackson; but |
he has property interests all over the
state. He owns nineteen plantations in
the marvelously rich country above
Vicksburg, including parts of Washing
ton and Isssquena counties in the Yszoo
districts. He has $4,000 acres under
cultivation-15, geo of them in cotton.
He raises 10000 bales, or 100000
pounds of cotton annually. He has |
5000 acres in corn and oats for the sup
port OF his stock and bis people, and |
yet he has not land enough. Whenever
a planter is hard.up, and wants to sell
his place for cash, he applies first to old
Ned Richardson, knowing thst from him
he will get cash offer, though low
one. l heard Mr. Richardson offer the
owner of a plantation $1,000 cash for
land which the latter valued at SIS, 900
and, 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 snuff ali the brokers sneeze. As men,
Der of the first firm in point of volume OF
business, he receives and dispeses of
more than 100, 900 bales of cotton annus
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
a lot go for II and II cents. He has still
1000 bales back, on which he expects to
realize over IL cents, as cotton is adj
vancing. If hadn't waited said Mr..
Richardson, { would have quit loser on
the year. But I'll make little some
thing on last years crop, and, if the in
jieations for this year don't fail, or this
exodus don't break things, 1 ought to
clear $1,000 to 100000 on this year.
Mr.. Richardson was not Boosting, These
statements were pried out of him by
questions on other points. His shreWd-
ness as q cotton dealer is evidenced,
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 wooden mills at Wesson, Mississippi,
in which he now runs 10000 spindles,
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 a 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 op
eratives out of employment. 1t is not 6
J simple thing here, where new hands
would be hard to obtain, to shut down
work and let the operatives go; and or
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 i,
consequently no reason why wages should
be reduced. The mills return about ~
per cent. regularly on the capital invest
ed. The cotton they use is all bOughr
at the door, and costs usually two snd (
fraction cents less per pound than tia
used in Massachusetts. AT the ordinsr!
price of cotton last year this would be ;
difference of twenty-five per cent. il
favor of the south. The labor here
also cheaper; and wherever the capita
can be obtained at reasonable rates, sucl
, enterprises, in the opinion of Mr., Rich
ardson, are always bound to succeed
Their success would mean more, he be
lieves also, than the profit of few fol-
tunate individuals. If there were 8
many cotton mills in Mississippi in pre-
portion to population, as there are i
Massachusetts, the labor problem woul
be solved. There would be a place
9 use labor which can not now be en-
ployed in the field. Poor whits
= and members of the negro family VIII
= are now burdens on the communit,
q would be bread>winners. Mr.. Richard
l. son cited plumber of instances of abs
II lutte paupers, white and colored, who hs
Is become selfsustsining in his mills, an
! asserted that 495 out of the $50 emplo.
T. ed therein would have done nothir" fl
IL their own livelihoodif they had not bee
= offered these situations | asked WI
;" the mills we're put at distance from Il
IL river, apparently at an eut-of-the-ws
!! place. The answer was that they we
y in the midst of rich wool growing Sc
l. ton. The mills use 1900 to l, 400 bal
Is OF wool, or 100000 to 100000 pounds
l. and all the wool, as we'll as the cetto
% is brought to the door on wagons fro
II the neighboring country. Jeans, strips
d cottons and brown goods are the prime
pal products of the mills. Mr.. Ric
ardson owns q cottOn.seed oil Mill {
D. the Mississippi, and has many 9th
t. small irons in the fire; but these onl
do. as Col, Sellers saws, for side inyes