The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1880-09-29
Profits of southern Mills.

The Augusta Factory, at Augusta,
Ga, illustrates the success which at
tends the manufacture Of cotton in the
South. They have 24,200 spindles and
800 looms making plain goods, Sheet
ings and drills from Nos. II and "A
warns. The capital stock is $500 900.
The gross earnings of this mill, from
June, 1877, To June, 1878. was $780,
347 II, less expense on account of taxes,
water rates, interest, general expense,
and insurance of s56,S7S. They paid
four quarterly dividends Of two per cent,
amounting to S4S GOO, and carried to
profit and loss account S25, 1859 a. The
gross earnings amounted to II 24lOO
per cent. Of the capital stock.
Consider the question Of cheap cotton,
as above presented in connection with
the Augusta mill Of n 200 spindles and
its $500, 600 capital. In the year 1878
thew consumed II, 819 bales Of cotton,
the average weight being 400 pounds
per bale. Upon the basis Of an assumed
saving Of seven dollars per bale, this
mill realized the sum Of $50, 1873, or
about 81 per cent Of their gross earn
ings If they had been deprived Of this
item of saving, they would have failed
Of the net profit Of II 24I00 per cent,
and have incurred a loss Of S9,264,
which condition would compare favora
bly, with some Of our Northern mills
during that memorable year.
In comparing the cost Of mills pro
ducing the same class of goods III the
North and in the South, viz standard
sheetings and drills from Nos. u and II
warn, we find there is but a very slight
difference in the labor cost. Good New
England mills, picking and carting, .G67;
spinning, .6l5; dressing, "a weaving,
] 80; total, 1922; repairs, 40; general
expense and supplies, 10; making
total 5,062 per pound.
Some few mills are producing these
goods at labor cost Of FIVE cents per
pound, the cost Of the several depart
ments varying slightly.
1t must, Of course, be taken into con
sideration that some Of the mills in
New England are running ten hours per
day, while all the mills in the South
run eleven. The mills in the South
employ more help, but the wages arc
considerably less.
There is room for IL further reduction
of cost in the South, when the necessity
of the times shall require it while in
New England mills The cost has been
brought down to the lowest point which
is possible with the present facilities
The wages have always been low in the
South, and the reduction, therefore,
has been very much less than in the
North during the last few years.
a much larger reduction in cost has
been accomplished in New England
mills during the past six years than Is
represented by the reduction Of labor.
Machinery Is operated ut higher rate
OF speed, and the work is done with con-
siderably less help than was formerly
employed when wages of operatives
were ut the highest rate.
The necessity which compelled this
course in the New England mills will
very much reduce the cost Of produc-
tions IN the South.
The Langley Mill, Of Langley, ,. G.,
has 10000 spindles, representing a cap
ital Of $40 per spindle, or $500 600.
With this enormous amount they have
never paid less than s per cent. divi-
dends per annum during the past ten
years, and in January of 1879 had ac-
cumulated a surplus Of SO, 900. They
report a profit last year of y per cent.
The Vau Cluse Mill, owned by the
Granite Mill Manufacturing Company,
has 10000 spindles and 300 looms, and
is one of the best mills of Its class in the
country. They report profit of 21I
per cent. last year.
The Piedmont Mill, near Greenville,
S. c., is mill of 1864 spindles, 240I
looms part YARN, capital stock off
$685., 900. They report profit last year
of 255 per cent. is a fine mill of its
class, similar to the Nau Cluse.