Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1889-08-08
THE FACTORY ERA.
, Proposition to Fort Worth to
Erect a S250,000 Cotton Mill.
corarnor Gibbs Of Dallas and w. H.
Fairbanks Of the East Lay Their
Plans Before Our Citizens
40 Will Return Saturday to Address a
Meeting of Fort Worth People
at HUffman's Hall
r-an Thursday,s lAugust y Daily.

Yesterday afternoon. Hon. Barnett
ca.a. If Dallas and W. H. Fairbanks, q
.-,c,fca1. experienced cotton mil man
s-oro the Fast, who erected and put in
,-srarfou the Dallas, cotton mill, were in
r,-+ Worth in one of our business estab-,
r.5ments in conference with a. T. By
s-. A. W. CasweH, F. E. Chase, Robert
v.cart. r. p. Maddox, J. C.->McCar-
.5r and others in regard to the
tniIding in tins city of a $3.50 600 cotton
mill The plan, which was briefly told
,-as one Of the projects which the Ia
,,artad b G. Evans had interested him
-lfin but which must now be carried
90 ly others.
Governor Gibbs is largely interested in
Fort Worth, amt is simply acting as
q wise and practical man Of business III
vaq+ be is doing toward bringing to this
fftv of a large establishment of this kind.
Vaowns south OF the city 220 acres of
land. worth to-day say S22 900, and he
raas assured that with u mill OF the
character mentioned his land will
IN short time be worth Sl1O 900,
and he is willing TO do all he
ran 10 bring such an institution here. Mr..
Fairbanks looked over Fort Worth care
flIIv. and pronounced this city as in
every way a most excellent location for
the mill.
The proposition is to build and operate
anil to cost $3.50 coo. Fort Worth is to
take 500. 900 Of the stock and Messrs.
Gibbs and Fairbanks viii raise the $3.50,
900 for the balance of the stock IN the
East. The 500. 600 Of stock is 10 be
raised, the directors elected and all pre-
Tminaries arranged before the site of the
mill is selected and this selection is to be
made after bids are received, the
highest bidder to get the
mill. This plan precludes any land
scheme from being benefited at the eX-
rslse Of the mill, the site donated to be-
come the property of the mill company
aud the money donation TO be in the
shape Of stock subscription. 1t is pro-
posed to pay for buildings and machinery
outright and not to bond the property in
-ny way.
Those present who heard the propo-
st0u were warmly IN favor of the move
mant. and after some informal discussion
tbe board Of trade was requested to
arrange for q meeting of citizens
g. which the whole matter could
De discussed aud action taken.
The meeting viii be called by President
Paddock. and has been fixed for Huff
man hall Saturday afternoon at 4
O'clock
Governor Gibbs remarked: 81 have
this much confidence in a cotton mill IN
Cea,ur the values Of Fort Worth prop
er,g. | viii agree to any assess
mut OF the values Of my prop
u,v, and VIII take stock in
demu to the extent of 10 per cent. of
saeh value, the stock to be paid for in
cash.
After the informal meeting Col. R. f.
Maddox took Mr. Fairbanks out for n
t-..a showing him the city and suburbs
90 The north, south, east and west. Mr..
Fairbanks was greatly pleased, and said
Fort Worth. possessed advantages equal
10 any city D. had seen in Texas.
Tbs Risitors left for Dallas last night,
.utEIl return Saturday and address the
Meeting as Huffman s haH.
Fort Worth has entered, the race for
factories, and present indications are
That She VIII be no laggaTd in this race.