Savannah morning news. [volume] (Savannah) 1868-1887, 1886-02-19
THE MILLING INTEREST.
Augustus Manufactures Getting on
solid Ground.
FROM TIE Augusta tGa.l o1ronicls.


solid Ground.
From the AUGUSTA (Ga.) Chronicls.
The manufacturing interest is the COM
handing interest Of Augusta. The
larger share of her business capital is
invested in her mills, and she has come
to be known as the Lowell of the
South" Her splendid facilities have
attracted foreign capital, and the phe-
nomenal success of her factories some
years ago caused not only the erection
of our own peerless mills, but impaired
the c0ntRgion to other places and faeto-
RES cropped upon every side. The whole
business energy and floating capital Of
our city was expended on water wheels
and staked on humming splndles. The
commercial heart beat in accord with
the flying shuttles. SO long as manufac-
turing was prosperous, Augusta was on
rising ground and attracting the attention
OF the STATE to her progress and thrift,
But there came time when the mills
could not sell their products at pr0nt.
The price OF raw cotton was higher than
the price af woven goods. The mills ON
every hand were piling up goods. Inc de-
mand was constantly contracting, but the
supply was undated. The outlet
grew smaller, but the goods were
heedlessly piled into 1t until
there came q gorge. Then the
mills realized the situation; tine wheels
were stopped and the busy shuttles
ceased their merry clater. The CONNER
cial heart of Augusta was paralyzed; she
staggered like a man under death blow,
and entered upon a night OF darkness.
She had twned her fortunes about her
spindles, and they had woven her winding
sheet.
This was a terrible realization for Au-
gusta, but 1t was a needed lesson and she
has prOtited by it. She learned that city
must not look tn single interest alone
for sustenance, and must not hang all It's
hopes upon single industry; but diver
sitied pursuits must be encouraged, ana
united action for the common good must
be observed in all the avenues OF business
and all the walks of life. lu the past two
years this lesson has been put into practice
and without counting on mill dividends
for a support, the people have wrought
out their living in other channels, and
have emerged from the night of darkness
with renewed faif b in themselves and
more confidence in the future, and with
the general trade and business of the city
on a surer and frmer footing.
While the people have been arriving at
this stage, the mills, too, have been work
ing out OF their trouble. The gorge mas
been relieved, a new crop has brought
cheaper cotton, and they are now making
goods with a fair demand and disposing
of them at rates which allow them TO clear
money. Thus we have general trade of
the city improved and no longer banging
helpless upon the success Of the mills,
standing hand in hand and shoulder to
shoulder with the revived manufacturing
interest, both upon solid footing and
loOking forward to brighter times.
The Chronicle called on our mill Presi-
dents yesterday and was struck with the
difference in their spirits now and at the
time of the glut and stagnation just re-
viewed above.
Said President Estes: alt won't do to
say too much. We are making little,
but we can't afford to blow about 1t yet.
Last year we were selling goods at loss
of several dollars a bale. Now we are
selling them with the profit on our side.
The outlook is for still better times ahead,
but we don't want to talk too much yet
awhile"
President Hickman said: "We have
fair demand for our goods, and we are
selling at a small profit, but competition
is very great and the margins are very
small. My mills were never running in
better condition. l have good officers and
operatives, and never turned out better
goods, but the profits are very small at
the present prices. The prices could be
easily raised Ne. if we could secure CO.
operation among the Southern mills.
There is good demand, and there are no
surplus stocks. If all the
mills should demand in unison Nc.
increase it could be easily secured
But we can't get cooperation because
many OF the mills haven't the capital
upon which to operate. They can't afford
10 mold their goods, and say they will
Lake certain price for them. Northern
commission houses supply the capital on
which they operate, and as soon as thew
make their goods they are sent TO the
commission merchants, and they dump
them on the market for whatever they
will bring. You can say, however, that
the feeling in manufacturing circles is
better, and we are now working with a
small margin of profit"
President Verdery said: "rhe manu-
featuring interest Is looking up, and we
have still brighter days ahead. We are
selling ALI the goods we can make, at a
small profit, and have orders ahead. The
worst is past, the future is promising"
President Sibley said: "We have orders
ahead BOtn of our mills have sold square
up to their yield. ana # was called on TO
furnish twenty five bales of goods imme-
diately, | could not do it.. So tar as the
glut is concerned, the Sibley mill never
had any. Even during the dullest times,
when toe complaint was loudest, the Sib-
ley mill paid its interest Of $4,000. IL made
a variety of goods that no other mill in
the South made, and never suffered from a
glut. BOth mills are now turning out
goods under good demand, with orders
ahead. We are not making a great deaf
of money, but the bottom mas been reached
and we are now taking the upward
course. think the outlook is PROMISING
for the manufacturing interests, and tae
day is not far distant when the mills will
all be selling goods 1T a fair living rate.