The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1892-11-12
AN EASY way TO BUILD :corToN
FACTORIES.
D. 4. TampLIn. II M,rIdlan Ner..

| -. A. iompkins IN hcftuihn news.
The cost Of cotton factory for
the production of yarns, commonly
called "spinnirg mill, is usually
about els to $20 per spindle, the
T, variation beng due to varying
local conditions and prices OF
materials. and To the kind of equip
ment pnt iato the mill in the shape
of cotton machinery, power, FIRE,
, protection, etc. The cost OF a mill
to spin and weave also will vary
from $lS TO $25 per spindle.
The factors that enter into the
cnHt Of mill arc land, brick, lum.
her and machinery equipment. Of
these the land, brick, lumber and
labor exist in abundance in any
Southern community. In saying
This, 1t must he understood that
bricks are nothing but combina.
tion of clay and labor, while lum-
her is nothing more than the com.
binstOn Of timber and labor.
Therefore, when factory is built
III any Southern community, the
only money actually necessary to
b. sent out of the community is
the money for making of bricks,
and the money paid out for
machinery. The money paid
out for saving Lumbar and the
money paid out for labor all stays
in the Spnth, and these all cost
rhe South no extra money, but
simply a little extra energy. Tine
money to pay for machinery must
ne raised. and, of course, while the
money r, qulrrd for bricks lumber,
'ic. strys in the community,
money must be used as medium
Of exrh tnge.
Tnere has been devised at
Charlo te, N. O., plan by which a
cotton factory may De bnilt on very
easy terms, and yet he entirely
successful. The plan is as follows;
Organize a company Of, aay $50, ,000
10 build \ spinning mill Of 5000
spindles with twisting spinGles To
correspond. Let all the stock be
subscribed payable 30 cents per
week per shate. A subscriber for
tw' nty sha' 90, 82,0OO, would thus
pay $40 per week. AT this rate it
wOnld require four years to pay
the stock TO par. With 800 shares
subscribed, the mill cOmpany
souli have an income of 1900
and upward per month, or nearly
go, 900 per year. With this latter
sum all buildings could be con.
structeds Y and some surplus still
remain Ia pay on marhineTy equip
ments. Having the buildings con-
strncted aud paid for and some
surplus in the treasury, aud tn.
company having an income from
stockho ders Of. about $1,000 per
moRth, contract could than be
made for the power, shafting and
about one half the cotton ma
Chincry, starting in operation with
SAY 2,500 spindles within eighteen
months from the time Of the organ
ization Of the company. Having
once succeeded in getting $500
spIndles in operation, the remain.
ing equipment ia simply a matter
Of Putting in the machinery as tho
money comes in from tho stock
holders. until little less than
four years the entire capital stock
will have been paid in and the
eatire mill should be in operation.
At Charlotte n. o., three mills
hgvc been butt m the above plans,
with some notifications as to de.
tails. In the case of one OF them
the capital stock has now been
paid IN full for about two years
and the mill has paid regular semi.
annual dividends of A per cent.
siDce completion. The stock of the
other two is not yet completely paid
in, but both mills are doing well,
and the stock Of both are consider
ed good property. In the Vicinity
of Charlotte quite number of
mill companies have been organ
zed, and in some cases the mills
have b-en put in operation and
others are in course of construc.
tiOn, the mills already built or
being built on this plan, promising
su"crss wi hout exception.
The plan is explained in detail
because it seems ie ,sible aud de.
irsble for Soathern towns, where
'aad, labor, lumber and brick are
abundant and ch ap. and almnsl
anybody couId afford to take ten
sharss equal TO 81 900, pas able in
weekly instsllments over a period
. f fonr years, aud any business
man or Arm could well take twshty
o fifty shares, aud out OF the bust.
( ness thst would come ont OF the
construction and By the easy term,
+ almost grow richer bv the amount
snDscriied aud never feel the
xeight Of the payments
! A spinBing mill of 1000 spindle,
w0uld employ about sixty hsnds,
with a pyy roll that would amount
: to aDont $500 per week to tue lab0l
: sloas, besides which the none,
paid for salaries, for supplies ant
= profits woald all go into circulation