Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-10-17
THE PIONEER COTTON MILL.
Beginning of n New Era In the
History of Memphis.

AAANeOkd Va NACAnPAA1e
The building Of this mill, now an
assured fact, is the beginning Of a
great change in the history and stand
ing Of Memphis. 1t has for many
years been a wonder why Memphis, SO
favorably situated in the heart of the
greatest Isscotton growing district
in the world was not one
of the leading manufacturing
cities in the country. Perhaps it has
been because the profits of raising and
handling cotton were so satisfactory
that planters and business men had
no incentive to experiment in any
thing else. Blu the South has
awakened to the fact that in order to
compete with other sections and keep
up with the wheels Of progress, her
means and energies must be employed
In the development Of diversified in
dustries. Memphis receives annually
from 100000 o 475,OO0 bales of cot
ION, and strange to say she
does not consume a single
bale for manufacturing purposes.
All hope had well nigh been lost of our
city we doing anything toward the
erection of cotton mills and manufac-
turing the c)tton which grows at our
doors until within the past few months.
A few enterprising citizens took the
matter in hand, organized a stock
company, and without any further
ceremony began the erection of a suit
able building. The work is being
pushed forward as fast as possible.
These gentlemen certainly deserve en-
couragement and success and from our
personal acquaintance with most Of
them we are confident they will suc-
coed. The following clipped from the
Appeal Of the 10Th on this subject we
heartily indorse.
0fall the manufacturing enterprises
engaged in by the solid men of Mem
phis during the past ten years, there
are none Of so much Importance to its
property aud growth as the Pioneer
Cotton Mill now rapidly approaching
completion, and located in the south
crn suburb Of the city. This is some.
thing which has long been needed, and
the assertion is Ventured that within
the next few years several mills oil
much larger proportions will be in
successful operation, instead of one,
This will give employment to a large
number of hands, whose work will be
light and pay remunerative. From
$1,000 to $500 per week will be PAID
to those employed in the factory, anC
by them paid to the butcher, the
baker and the candlestick maker
Property in the neighbOrhood of thu
mill has enhanced in value fully fftl
per cent since the work was com
menced on the building. Only abOu.
three months ago a few gentlemen
began agitating the idea Of building
this mill, and Notwithstanding tn,
prediction OF "croakers' that i
would all fall through" the work i
being pushed forward and the brick
work will be completed by the 10Th 0
November. Woodwork will follow
as fast as brick layers get GU
of the way. Machinery Of tn.
latest improvements has bee
contracted for and is now being mad
by Eastern machine works, and is t.
be delivered on the ground by the Is
day Of December. An Appeal re
porter learned from one OF the stock
holders that the company have hal
numerous applications for the produc
of their mill, and they could readil
dispose of the entire product 70
twelve months ahead. This is an en-
terprise which every good citizen hav
ing the interest Of Memphis at hear
should encourage in every way pos
sible. 1t is in the hands of gentle
men who are known to be among GU.
best business men, which is a guarantee,
that the affairs Of the company will b,
managed economically, and with al
eye to profit, and the effect of sucl
management must insure success. l
is the intention of the company Il
have to their credit at all times il
bank surplus cash capital sufficient Il
take advantage of the fluctuations o
the market. and to conduct thei
business upon a cash basis entirely
and to pay all demands against then
before a wheel or spindle is turned
A cotton mill beginning business il
this manner cannot but prove a sue
cess and of lasting benefit to our city
The statistics show that the mills o
South Carolina declare an annual div
idend of IS per cent; the mills o
Georgia, "a per cent; the mills Of Ala
bama, % per cent; the Wesson Mills
Of Mississippi, 30 per cent, the averag,
dividends of all the mills in the Soutl
being % per cent. With such fact
staring our capitalists in the face, is i
not strange that they have not LON
ago taken hold of cotton manufactur
ingand made our city what it SHOULD
be, the Falls River of the South.