The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1890-02-08
A Cotton Factory How to Burit IL.

We organize joint stock company
and call it the Yazoo Cotton Mills >
capital stock $500, 900, paid up capital.
Shares slO0; 5000 shares. We pub
lish the charter weeks and send il to
the Governor for approval The
ineorporators are so, we say, of Yazoo
City's best business men. They deter
mine 10 build q 100000 Cotton Fac
tory in Yazoo City. In the first place
viii anybody donate a siteI The Lin
toula Land Company donates a mill
site of four acres. The incorporators
meet and accept the site. Now they
60 down and lay the advantages of a
large cotton factory to the prosperity
of the town of Yazoo City before the
Board Of Mayor and Aldermen, and
ask the town to submit the matter to
a vote OF the people, asking them to
vote to donate to the ~Yazoo Cotton
Mills $4,000 in bonds running thirty
years drawing 6 per cent. interest,"
II is fully discussed by the people and
they see being taxed for cotton fac
tory is different from being taxed for
railroad, and they go up and by an
overwhelming vote carry the bonds.
The bonds are given. Now the com
pany have site and $4,000 in money
They meet and open the subscription
books and appoint canvassers to get
up subscriptions. They 60 to the va.
rious merchants In town and get so
merchants to subscribe $4,000 paya-
BILE IN 5 annual payments, one-tifth
cash, aud give their firm notes to the
Yazoo Cotton Mill Company bearing
6 per cent. interest. They go next to
the various clerks employed in the
stores and gel 200 clerks to subscribe
$4,000 payable in the same manner,
at the same rate per cent They go
next to the various professional men
in the town and get so Of them to
subscribe $4,000, payable in the same
manner at same rate per cent. They
next go around to the various monied
men in Yazoo City and get 10 to sub
scribe $4,000 payable in the same
manner, at same rate per cent. Then
they go to the assessment rolls and
look over the various property hold
crs and 60 around among them and
you get 1000 of them to subscribe
$4,000, payable in the same manner
and at the same rate. Then they 20
to the cotton brokers and get 10 to
subscribe $4,000 In the same manner
and at the same rate per cent. Then
they 60 around among the railroad
men and get them to subscribe $4,000
payable in the same manner and al
the same rate per cent. Then they &c
around among the steamboat men and
get them to subscribe $4,000. payable
In the same manner and at the SAME
rate per cent. Then they 60 around
to the Yazoo Oh Works and get then
to subscribe $4,000, payable in th'
same manner and on same terms
Then they go around among the
Office holders and get them to sub
scribe $4,000, payable in the SAM
manner and at the same rate pc
cent. Then they 90 around to tn
bankers and tell them they lack onl,
$4,000 Of getting up the subscription
and they get the bankers to take $40,
900 Of 1t payable in the same manner
and at the same rate per cent. We'll
they still lack $4,000; they com
back to the Lintonia Land Compan
and II subscribes the $4,000 payabl
In the same manner and at the sam
rate per cent. The Company calls
meeting and the canvassers report tina
the whole amount Is taken. Tn
Yazoo Cotton Mills Company no,
takes an inventory of what 1t ha
promised. Well, it has the land 70
site donated; It has $4,000 donate,
by the town Of Yazoo City in cit
bonds; then II has $270,000 subscribe
by the various people of Yazoo City
Well they 90 around and get up th
one-fifih cash payment which make
$4,000 more in money; then it take
four notes from each stockholder pay
able annually during the next yeal
bearing 6 per cent. interest payable I
the Yazoo Cotton Mill Compan,
Each stockholder then accepts fror
J the Yazoo Cotton Mill Company stoc
Of the company to tho amount of hi
} subscription. Now the stockholdel
/. meet, organize aud prepare to negot
ate loan by issuing $216,000 Of bond
j one-fourth payable In one year, on
} fourth In two years aud one-fourth
| three years and one-fourth in for
years. They take these bonds and &C
: them In New York and realize Il
$216,000 in money they secure the
Z bonds by hypothecating these not
/ amounting to $216,0O0 and also NOR
a gaging the plant The money is 9
gotten together: 100000. They bui
the factory, and add thus 1000 pop
lation at one sweep 10 Yazoo Cit
/. Who can doubt the possibility of {,
scheme and the untold advantages
would be to Yazoo City2 If evel
} man here who invested the amount
o money here enumerated and ney'
realized directly cent from his sto,
subscribed, he would still be fully T
= paid for he would build city her
r and bis increase in business, his l
0 crease In salary, his increase
! professional business and the u
told increase in the value
real estate would fully compensat
y Don't stop now 10 consider the dii
culties to be encountered, but get
|. up, Of course you cannot build CT
# without difficulties and you would
d virtually building city here in bui;
II ing this factory.-Yazoo Herald.