The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-09-14

)Ipy, aud lot us"hope
/cnrly con monccment ct
Ihat the south, where only
Imaterial is grown, should nave re-
1d 40 long AS She did la the rear in tic
Hulacture Of cotton into yarns and cloth
/one of the anomalies OF this industrial |
Kra. But at last q change is coming over
The spirit of our dream, and the brilliant
results of trial, in Georgia and elsewhere, |
are acting as wonderful impetus on the
balance of our section. While we produce
ON an average over G0OO,OO bales oil cotton |
II manufactured during the census year
only some 10000 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 cotton JUST
think on the facts. We alone raise the
material, and shipping 1t away,pay thereoh
the freight, drayage, 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 IL TINS form
and whence it started. Manufactured by
southern mills, all those expenses would be
saved to us. The northern mill labors I'M
dor the increased cost of the staple, say on
10, 900 bales, equal 10 per cent upon S3Oo'-
900 which is at once magnificent advan-
tape to the southern factory. In all the
southern state, including Maryland, we
have but 252 of these mills, running about
237 900 spindles, while Manchester, Eng
land alone, with a population OF 5Oo,oOo'
runs 80 900 spindles, consuming over 81
OOo, OOObsles annually, and drawing this sup
ply from fields $500 miles distant. In New
England, according to recent speech IN
congress of Mr.. RUSSELL, of Massachusetts,
five remember Alright, the official state
ments show that so of the leading corpora
tions of Lowell, Lawrence, Chicopee, Salem,
Manchester, Lewiston and one or two
other places, representing capital OF son.
10000 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 the 50 per cent. duty tariff, and yet
under which that same Manchester, Eng
land, sells cotton goods to southern
farmers who supplied the raw. Now let
ms see what some southern mills are doing.
The Augusta, Georgia, factory is the oldest
mill in tina. city; it has a capital u 5000 ,'0'
and runs 26,2OO spindles and 7Qo loom,
from 1865 to 1852, N years, It has paid ont
in cash dividends 81 iG7 Q!a, q about p
times its capital, or an ave ~ Of ~ PEI
cent. per annum; beside This II has iaiC
aside a surplus Of between $4,000 anc
$685. 900, or over so per cent. Of - entire
capital; its stock is worth from l6O to ITO
stThe Langley mill of the same city has
capital of $500, 900, with 10000 splndles anc
329 looms; it has paid in the past 81 years
All per cent dividends, or an average o
about Is per cent. per annum; last year i
maid a dividend of 20 per cent; its presen
surplus Is 100000, and its stock is worti
from 100 to ITO. The Granitevil mill, als'
of Augusta, with capital OF $500,
; loco. has $4,000 spindles and 9O
looms; this company pays 10 pc
cent. dividends, and then puts its surplus
, info new spindles; out of its surplus earn
, inps. that is its earnings above its divi
dends, it has built, without dollars ex
nense to the stockholders, the Vanclaus
mills, with 10000 spindles for making fin
fabric, at a cost OF $40, 0O0 it has also lai'
;. aside an additional surplus Of $125, $40
:. The ENTERPRISE was stated in 1877, with
;. capital of 5000, OO0 it has also paid 10 pc
! cent dividends, and laid aside the rest o
+ its earnings as Surplus. The Wessol
g mills of Mississippi have paid dividend @
@ % per cent, and the Troup factory OF tn
same state "a per cent, while from time
time we have noted dividends of from )
d to so per cent, the latter having bee
l. earned by q Pulaski, Tennessee. mi
n last wear, In no case have W
= heard of any mill declaring less than 10 pc
= cent. annual dividends, and in every cas-
n in which only this per cent. was declared
t large amount was taken from the earning
l. and used for repairs, additions TO machiner
It and increasing the size and capacity of th
r. mills. Throughout the south the cotto
It mills are prosperous, and their owners al
a making money. No wonder, then, that tn
a people OF our section arc beginning 10 ope
q their eyes in the glare of these dayligl
h facts. No wonder that within the past tw
1. wears some IS, 900 900 have been invested
e cotton mills in the south. No wond'
W AGAIN. that there are even now many ne
,e projects under way which will doubles
1t result in adding large number OF ne
a mills TO the 252 already in operation,
a. that within a comparatively few years
think IL perfectly safe SO say that the sout
will have sl00,OOOOOO invested in cotto
y mills, with 9, 5OO,O 600 spindles and fully loc
y GOO operatives, and in the not very distal
a. future even these figures will be surpasse'
= One company in Georgia isto-day organize
y with a capital of 81, 100000, and sever
70 other smaller concerns are forming.
- Maryland, Alabama, &C., they are sprir
~ inc nm in all directions. As illustrati'
~ of the mighty changes that are tai
- ing place in the new departure In th
~ southern states, we present the CAREFUL
~ compiled statistical table, the figures beir
a official
~ M of No. Of No.
NJ u,.,o. Mills CapItal spindles Losn
4. uarviend III g7,isO.O0O 1885 ~
yirriinia 70 I2ss go o 52lgl 81
:, GeorTis- .--,....-9 1Z775.Og0 $1,000 "a
ID FLORIDA ..........l 5000 lsii -
n Alabama .........2 l.8l.eVl sre5i -
i Mississippi .......l3 l'4sAVg 49, =
Texas teti.U $50