The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-09-08
oorroN rAcronlrs ron DALLAS.

era. But at last change is coming over
the spirit Of our dream, and the brilliant
results Of trial, in Georgia and elsewhere,
are acting as wonderful impetus en- the
balance of our section. While we produce
on an average over 6,pOO,0C0 bales of cotton
II manufactured during the census year
only some 30, coo bales, In all the past We
have been supinely, strangely content
to allow England and our northern
and eastern states to grow rich
| upon the manufacture of our colt on, Just
think on the facts. We alone raise the
material and shipping IL away pay thereon
the freight, drayagc storage, insurance
commissions, re-weighing etc, for Massa-
chusetts or other locality abroad, costing
several dollars per bale, and then buy the
manufactured article plus all the price of
| getting It back to our doors in this form
and whence il started Manufactured by
southern mills, all those expenses would be
saved to us. The northern mill labors UNI
der the increased cost Of the staple, say on
10000 bales, equal 10 per cent, upon $780,
| coo, which Is at once magnificent advan-
tagc to the southern factory. In all the
southern state, including Maryland, we
have but 252 of these mills, running about
/ 237 600 spindles, while Manchester, Eng
land alone, with population of 10000,
runs 100000 spindles consuming over !, e
900, 600 bp les annually, and drawing thissup.
ply from fields $500 miles distant. In New
England, according to a recent speech in
congress of Mr.. RUSSELL, of Massachusetts,
five remember Alright, the official state
ments show that 80 of the leading corpora
tons of Lowell, Lawrence, Chicopee, Salem.
Manchester, Lewiston and one or two
other places, representing capital of 500
100000 employed in manufacturing the
various grades of cotton and wooden fabrics,
have paid for the last five years an average
annual dividend Of only per cent, this
under thc3S per cent. duty tarill, and yet
under which that same Manchester Eng
land soils cotton goods to southern
Farmers who supplied the raw. Now let
us see what some southern mills aru doing.
The Augusta, Georgia, factory is the oldest
mill in tina! city; il has acapital of 5000 900,
and runs 2G,o0o spindlcs ard 100 looms;
from 1865 to 1882, II years, 1t has paid out
in cash dividends 81 ,i67 900 or about q
times Its capital, OF mn average of lil per
cent. per annum besides this it has laid
aside a surplus of between $4,000 and
$4,000, or over 80 per cent. of its entire
capital its stock is worth from 100 to 10.
The Langley mill Of the same city has n
capital of 100000, with 10000 spindles and
800 looms; II has paid in the past y years
i7l per cent, dividends or an average OF
about 10 per cent, per nnnum; last year il
paid dividend of 20 per cent. its present
surplus Is $20),O0O, and its stock is worth
from 100 TO 10. The Granitcvil mill, also
of Augusta, with u capital of 5000.
600, has 81 GOO spindles and 0G)
looms, this company pays 10 per
cent. dividends, aud then puts its surplus
into new spindles; out of its surplus earn.
ings, that is its earnings above its divi.
donds II has built, without u dollars OK.
pcnse to the stockholders, the Vanclausc
mills, with 10000 spindlcs for making fine
fabric, at u cost OF $40 900; II has also laid
aside an additional surplus of $l25 $40.
Tho Enterprise was stated in 1877, with a
capital of 100000; 1t has also paid 10 per
cent, dividends, and laid aside the rest of
its earnings as Surplus. The Wesson
mil'sof Mississippi have paid dividend of
~ per cent, and tho Troup factory Of the
same state "A per cent, while from time to
time we have noted dividends of from 30
to 30 per cent, the latter having been
earned by Pulaski, Gcnnessee, mill
last year, In no case have we
heard of any mill declaring less than 10 per
cent. annual dividends, and in every case
in which only this per cent. was declared A
large amount was taken from tho earnings
and used for repairs, additions to machinery
and increasing the side and capacity of the
mills. Throughout the south the cotton
mills are prosperous, and their owners are
making money, No wonder, then, that the
people OF our section are beginning to open
their eyes In the glare of these daylight
facts. No wonder that within the past two
years some 5000 900 have been invested in
cotton mills in the south. No wonder
again, that there are even now many new
projects under way which will doubtless
result In adding large number of new
mills to tho $50 already in operation, so
that within comparatively few years We
think II perfectly safe so say that tho south
will have Sl0),C)0,ooo invested in cotton
mills, with $500, 900 spindles and fully lOO,-
ooo operatives, and in the not very distant
future even these figures will be surpassed.
One company in Georgia istoday organized
with a capital Of Si,50o,co0, aud several
oIher smaller concerns are forming. In
Maryland, Alabama, &C., they are spring
Ing up In all directions, As illustrative
Of tho mighty changes that are tax.
Ing place in the new departure in the
southern states, we present the carefully
statistical table, the figures being
oMcial;
=, states Mills, Capital spintlcS Loans
Maryland ...,n,si 7iSOV IN NOD 2Igl
yirshla .,,."".lo l,gsGtol Sslsi LES
North Carolinan 90 eassoN aNSf 9Bi