The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-08-28
ZOO coo COTTON MILL.
49, 81 is Proposed TO Raise the
no" Money for Il.

49, II is PrOpO5sa "
no" Money for It.
.-,..,. Horuing NelgS: Having read the
Es visit by me to Augusta in your
NJ II Saturday last. for the purpose OF
IND, information about cotton factories
P ~ 70 the possible location of one
WIZ -, Lave 10 say that it will require
mere, - end the cooperation OF our best
haIu -, occornplish so important an I'M
Peopiet I did go TO Augusta, however,
Ger h1--,,.a,nsd some valuable information.
anu TISa--ad most especially, that the peo-
l. = savannah must manifest lively
'9o,est in the enterprise before tney can
iDduce Others 10 90 80. ...,, ILL. :.
= * have overstocked the marke- with
the SUI eaa-5s aud pIaids, and, to have assur-
pro"L nro6t in future. the products of
ahc9 u factories must be more diversified.
soutli Ut can the manufacture Of a com
u ~ Cnslitv Of brown goods be made TO
~ NJ 4 good quality of these goods Is pay
ing Wen. 10, that water mower is by no
- sine qua non, but II coal can be
laid down here at IS per Uoh, OF Wo9u pro,
-1a-tionately cheap, steam MIL located
20. .t -iJ- nj the taxable limits of the city
ois ,ov batter than the mills on the
canals IN augusta.
- Lnilding a factory they should not
-,sT,.,at one with less than 10000 splndleS,
80 would cost i'll the nelghb)rhood OF
s505OO The larger the mill the less the
relative expense. ,-.;. l-
go The feasibility of raising capital at the
rtb ar fins time. Cotton factories, like
~ otbar bus ness enterprises, are controlled
n1'gir nrofts by circumstances, and cir
-l,r,s+onces have not been favorable to
+tan1 nm certain classes of goods in the last
80 ,,aars Mills that nave means like the
Gra1it.ville factory " 10 which they can
cortrol circumstances u large extent Will
,nel,e money. But those unfortunate in
stitutions that require all they can make to
nav the interest upou heavy mortg ge
iniabta5ness have a poor outlook. And
this leads me finally to say that in this con-
Tactiou that a plan for building a hotel
which 7 published in the MORNING News
five or six wears ago, is the only one that is
now in nv Judgment, feasible for building
factory so that the stockholders,
and not bondholders, will own it.
Should we inaugurate an association here
for raising the money for factory upon
that plan. | will give my time and means to
trip north and east for the purpose of
raising all the money which can be obtained
there That such enterprises are of the
greatest importance to our city at
fbis time there can be no posi-
Bile doubt, and we should not
bubble about their exact location. If they
happen to strike sections where we are ill.,
terested. 50 much the better for US, but il
they do not, the general effect will help US
and above all help our city. We ought to
have a pulation Of 200, 000-the business
of Savannah warrants it-and all We need
do to acquire it is to exercise little public
spirit.
Every ordinary loan and building asso
citation running 500 shares payable S. per
month accumulates a capita al of $500. COO
Such an association can be organized, anC
in twelve months we would have $50, 900
This will form the basis of credit upon
which the mill could be built, and the debt
incurred for that purpose would be paid of
monthly from the lnstallments on the stool
and the profits Of the mill. When paid of
the stockholders would own the mill, anC
uyta lot OF bondholders.
j. L. WHATLEY.