The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-09-28
Cotton Mills Nor,h ana south

Two years ago the Times Democrat and
anumbcr ofothcr southern papers brought
prominently before the south the question
OF cotton manufacturing, We showed that
li the New England mills could declare
large dividends that mills in the south
could do much better, buying, as they did
cotton cheaper having smaller freight bills
20 pay, securing cheaper labor and water
power, enjoying II far better climate for
manufacturers, and with n market close at
hand for all the goods they could turn out.
These arguments We're so convincing
that regular boom was iuaugu.
rated, In tue past two years SIS
100000 has been invested in cotton
mills in the south, and their number is i'm.
oreasing daily, On September l. lSSl, the
southern mills that is, those IN the cotton
Statosl, contained AS3,66 spiudles, ON Sen.
teuher |, thoy contained S39,3Gl spmdlrs
an Increase of 10 per cent, ans to-day, in
Guiding the Maryland mills, they boast of
1851, 100 Spindles, In the meanwhile there
has been no increase in spindles IN New
England, nor any other portion of the
north, Those persons DESTROYS of invest.
ing their capital in the cotton mauut,ctur.
ing business naturally turn toward the
south as the best field returning them the
ourcst and largest dividends on their money.
Daring the season of lSSOSl the northern
mills took LOCI 2O6 bales for consump
ton, and in lSSl.S2, l,6SG,SA bales,
an increase of only |! per cent against an
increase of so per cent. in the consumption
of the southern manufactures The boom
still continues There are now more mills
going mp in the south than eyer before.
Mr., NJ, Gunby Jordan, of Columbus, Geor.
gla, who is thoroughly acquainted with
this subject, predicts that there will be an
increase OF at least 10 per cent. in the snin.
dies in tho south during the present bust.
moss year, and thai the southern consump.
ton will reach 400, 900 bales, or onc.ouarter
that OF the north, The reasons for this, rs
We have said, are evident The New Eng.
and mill must pay all the charges Of
freight, commissions, insurance drayayc
while the southern mill has the cotton do
livcred at its door, comparatively fro,
from these charges; and at Ia,
samo tune, the goods manufactured AT th,
south, largely find u market there, maxim
agroat saving in freight, The result /,
larger profits and bigger dividends. In ,
speech In congress some time ago, Mr.. Rus
sell, Massachusetts member, declare,
that after thorough examination of Ia,
manufacturers OF New England, no was NH,
to say that the stockholders In these mill
receive average dividends of little los
ihnn Z per cent The Baltimore Journal a
Commerce, after making similar exami
nation OF the southern MILLS, says: Gin N
case have we heard of any min dcclarin
less than 10 per cent, annual dividends, mn
in every, case In which only this per con,
was declared, large amonnt was take
IRON tho earnings and used for rcpaIr,
additions TO the machinery and incrcasin
the Siso and capacity OF the MILL while /
many establishments the profits of cotio
manufacturing ranged as high as 90 per cen
aycM.''--tNcw orlcanes Times Dcmocra
September 20.