The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1880-10-07
MORE cuD FOB THE CAPITALISTS.

Wonders will probably cease when
the capitalists of Austin put their
hands down into their pockets and
expend 100000 in industries cred
table to the community in which
they live. As stated some time ago,
1t was their intention to pay in $780,
600, and with II build a cotton CON-
press and a cotton seed oil mill. The
STATESMAN came to their relief and
demonstrated that 100000 put into
a compress woud be almost dead
capital. and that $4,000 in an oil
mill would, probably. with good
management give only tolerable
return upon the investment. We
were doubtful al the time
a. to the STATEsNAN's influence in
extending advice upon these SUBJ
jects, but emboldened and encour-
aged by the fact that not dollar
was paid in after the STATESMAN
commented upon the character of
such investments in this community,
we feel encouraged TO again urge, in
par, our views az to the establishment
Of a cotton factory at Austin. The
Graniteville mills and the Vaucluse
mills, at Graniteville. South Caro-
lima, are among the very best man.
aged manufactures of the South.
The capital stock is 100000. upon
which a large amount of bonds
have been issued, money derived
upon them having been used in
building and improving. In these
two mills are operated "a, ,264 spin
dies and SS4 looms, which convert
into cloths 1000 bales of cotton per
month. and there are employed in
both mills 775 operatives. These
two mammoth mills are moved by
the waters OF a very insignificant
little creek. collected into large
ponds and conveyed therefrom
to the turbine wheels in manner
to create vast deal of power, sup
plying for one mill 900 and for the
other S00-horse power. The goods
are 81 c. and 7-8 r. r. shirting,
A. A. A. and ~ L. L. sheeting, and
improved 10 drills and S. S. drills.
The daily production of these mills
is 1900 yards OF tho above men,
toned cloths. At the Graniteyille
mill during the two weeks ending
January 10, 165,616 pounds of cotton
were consumed. which turned out
14Q77S pounds or $4,000 yards of
cloth. At the Vaucluse Mill, during
the same time, 7O,7SS pounds of cot
ton was consumed, which produced
56,5S7 pounds, or 10000 yards of
cloth. The cotton which was used
during this time was purchased al
l1.T2 cents per pound. The cost,
therefore, for the cotton used at
both mills during those two weeks
was $27 ,699.51. The cloth produced
from this cotton at both mills was
6S6. 900 yards, the price for which in
the market at that time was over
eight cents per yard. Calling it
eight cents yard, the value of the
cloth produced was $54 ,880, or within
a small fraction of double the value
of the cotton. In other.words. the
process of manufacture increased
the value of the raw cotton 100 per
cent. In obtaining and presenting
these points for the instruction of
those who may feel interest in mat
ters suggested, We have been infiu-
enced by desire to give information
that cannot be disputed. The fig
ures may be looked into with the
greatest care, and they will thereby
only convince inquirers that what
we have said about cotton manufac-
ture ia true. Suppose, to start with,
these capitalists were to use their
money to pay cash for buildings and
machinery, reserving small
working fund. and were to put in
operation only 5000 spindles and $50
looms, what might be expected of
the investment. The estimate of
daily outlay on expenses and upon
return might be made as follows:
To 200 pounds cotton ......... s27O 90
To 20 operatives. es........... 100 90
Daily running expenses. $500 90
By 5000 yards cloth, &c. ..... S640 90