Savannah morning news. [volume] (Savannah) 1868-1887, 1885-02-22
PROSPEROUS COTTON MILLS.
Large Dividends, With 90 Per Cent. Of
Their Sales in Foreign Countries.

Large Dividends, With 90 Per Cent of
Their Sales in Foreign Countries.
The cotton mills of Biddeford and Saco,
says the Lewiston Me- journal, have
been unusually successful the past year.
The Pepperell corporation has paid u per
cent, the Laconia per cent, and the
York per cent. The management state
tDat the mills have actually earned these
dividends, and their surplus funds have
not been touched. The Pepperell is one
of the richest cotton corporations in the
country. With capital of $1,200,O00 it
has q surplus of 1000, 000-enough to
build big mill. The par value of it's
stock is 5000 share, and 1t is quoted to-
day at little rising $1,000. 1t has been
up to 300. The Pepperell mills are the
largest in Maine. They have 100000
spindles, which eat up 80 to 30 bales of
cotton a week. When the plant which is
now the Pepperell was first started it
proved failure, and was knocked down
at half price to the present corporation,
which has grown rich out OF the trade.
The LacOnia mill is intimately connected
with the Pepperell corporation and they
are both under one agent, but the Laconia
is the older of the two. The LacOnia No.
l mill was built in 1915, and some of the
wooden looms built at that time are now
running in the mill.
The Laconia has a capital of an even
81 900, and a surplus of $4,000 or
$4,000. The par value of its stock is $500
share, and is quoted at S430. There are
$4,000 spindles in the building, and they
employ 1000 people. The Pepperell and
Tacoma run on white goods of a wide
range OF quality, from a cheese cloth
weighing two and half yards to the
pound, to heavy drill weighing five yards
: (. H.
cotton flannels, and is the only mill in
Maine making them. The Pepperell and
LacOnia turn out about 100000 600 pounds
Of cOttOns annually. Fifty per cent. of
this product is sold in the Chinese and
East Indian markets, and there is where
they make their money. Their goods
have such a fOothOld in those markets
that they are beyond competition, and en-
Joy the advantage of commanding a quar-
ter of a cent above the market. The re-
cent war in China interfered with the dc
mand considerably for a time. There
is quite a movement of these
goods To South America, too.
Mayor Grace, of New York, recently
made heavy speculation in Biddeford
cOttons for shipment 10 the South Amerl-
can market. The York, situated IN Saco,
is the oldest cotton factory now running
in the State. 1t started in 1881. The
York is believed to be the oldest mill
making colOred cotton in the country.
1t has a capital OF 100000, and the par
value of its stock is $3.50 a share. Sales
have been made recently at 1921. The
York has surplus of 100000 or $500, 900.
1t has 1920 spindles, and employs 1,400
people. The production Of the York mill
| is 1000, 600 pounds of fabrics year, or
! about 200. 900 yards. The mills run on
| ainghams, dress goods, denims, tickings,
/ and colOred goods similar to those made
| by the Bates mill at Lewiston.
! The total annual production Of the
/ three corporations in BiddefOrd and SacO
/ is 100000 pounds of cotton fabrics of
/ various kinds. This is about 50,O0O,0O0
! yards. The mills keep 5000 people busy.
/ The Saco river has all it can do and
| little more to drive all this business.
The mills have to use auxiliary steam
power,