The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1881-08-11
Cott.In MILF.

All over the south cotton mills are
springing up, and the southern states bid
fair to rival New England in the manu-
facture of goods. This movement is not
u sham, and very soon the hum OF spin
dies will be heard and the manufacture
OF cotton goods be conducted on an i'm.
mense scale in every southern state.
Where mills have been established, they
have proved profitable, and have more
than met the anticipation of their origi-
majors. The mill at Augusta, Georgia.
last year declared a dividend of twenty
eight per cent. on $500, 900 invested.
What was the resultl Since that time a
company has been organized there with
capital of S1,O0O,OOO to manufacture
cotton goods, with privilege to increase
its capital to S3,OOO,OOO. Another manu-
featuring company of the same city have
increased their capital from 100000 to
Sl,OOO,OOO. The mills at Macon are being
enlarged. Another splendid factory is to
be built ut Atlanta, where there is one
OF the finest In the south now. The
mills in South Carolina are eminently
successful, and last year the average
dividend of all the mills was 22% per
cent. A new mill with a cash capital of
Sl,OOO,OOO is being erected in Charles
ton. A mill at Westminster, South Caro-
lima, capital only $4,000; one card, 200
spindles and seven hands, pays profit of
forty per cent. One mill of North Caro-
lima, last year, paid fifteen to twenty per
cent. on the capital invested. Louisiana
Is Increasing her mills, and lately $780,
900 has been subscribed and the work be-
gun on a new mill in the city of New
Orleans, to contain 10000 spindles and
800 looms. The mills at Wesson, Mlssis-
sippi, are very profitable to her. Starting
with one mill and $500, 900 capital only a
few years since, her goods took u premi-
um at the Centennial exhibition. An
other mill was built and the stock doub-
led. Fortune still smiled upon her and
prosperity crowned the work. About
thirty per cent. was made, and then an
other mill was built, and the stock in
creased to about 81 loo. 900. The presi-
dent of the company, last alluded to, says
It is the best paying Investment of his life.
A mill at Natchez proved so successful
that another has been built and will soon
be in operation,
SO successful are some of the principal
mills that they are lighted with electricity
and run set of night hands. Some of
the larger mills use steam power, and
many of them have more orders than they
can ill. Other mills we could mention
are wonderfully successful and are pay
ing large dividends. Austin needs, and
must have, a mill to convert the $4,000
bales of cotton she ships, into thread and
cloth. She has an immense water power,
and it should no longer flow by her with
out being utilized to make thousands of
spindles hum. Dallas is making a move
for $4,000 mill. Sherman wants
$4,000 to 100000 mill, and only wants
one skilled superintendent to put in some
stock and take charge Of it. Austin has
superior advantages for mills, and it is
hoped the gentlemen who have been con.
sidering the propriety of erecting one
will see to it that work is commenced at an
early day. Statistical reports from every
min In the south show they are paying
heavy dividends, and there is no earthly
reason why mill here at Austin, where
material is plentiful and living cheap,
should not prove a profitable investment.