The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1892-04-14
CHAMBER OF COMMERCE ACTS
An Enthusiastic Discussion Of the Cot
ton Factory

/
Appointed to Secure Subscriptions
to the Stock of the Concern-Othel
matters of Importance Discussed
The April shower that poured and
poured all Thursday afternoon and
night did not dampen the zeal and
enthusiasm of the representative bus
mess men of Winston-Salem
They faced the rain and went to
the Chamber of Commerce to stand
by the interests of the city.
There were but few vacant chairs
in the room when President Hanes
called the meeting to order. The es
tablishment of big cotton factory
was discussed without an opposing
voice, and a committee of twelve
representative men appointed to
raise the capital to start the enter
prise.
When President Hanes called for
reports of committees, Mr.. j. l.
Patterson, chairman Of the commit
tee on special and new industries
arose and stated that his committee,
appointed to investigate as to what
could be done in the way ofestablish
ing new Industries, had to report
that it considered the establishment
of cotton factory the most feast
BILE.
The committee recommended that
such an enterprise be undertaken un
der the auspices of the Chaminer of
Commerce. The committee further
recommended that the capital stock
by $500, 900 to be paid in monthly
inst ailments of B per cent.
Mr.. Patterson said, that after
carefully considering the matter, the
committee thought that nothing
could be undertaken that wonld add
more to the growth OF the city Men
thoroughly capable in every way,
could be secured to manage the fac
tory, and the committee believed
that the enterprise could be made
profitable.
Hon. ]. c. Buxton was called upon.
He thought that the committee had
reached a wise conclusion There is
a need of diversified industries This
plan was for the establishment of a
cotton factory twice as large as any
in the State. This would employ
good class of white labor and give a
great impetus to house building and
the general thrift of the city.
''This enterprise is not beyond our
reach" said Mr.. Buxton ''for we star
ted to build railroad at a cost of
So 900, 900 with only $50, 900 and the
road is now an accomplished fact.
Now that we have done that we can
build $1,000 cotton factory with
what we have left.'
Mr.. Clement Manly was the next
speaker. He endorsed what Mr..
Buxton had said. He believed that
the time is rapidly approaching
when the cotton manufacturing in
dustry will be in the South, where it
ought to be now. There are now lis
cotton mills in the State and four
teen in course of construction This
shows the drift of things. Mr.. Man
ly thought that the only question
about the matter was the practical
one of raising the money.
Col. F. Fl. Fries said that such
an industry would do more to
build up the city than any other that
could be esta blished. According to
the proposed plan. the mill would
have 10000 spindles and employ 700
people. The plan to build large
mill was a wise one for the larger
the mill the more economical, pro-
portionately, would be the cost of
administration. The large manufac-
turer has the advantage over the
small.one and it is in the building of
large mills that lies the hope of the
industry in the South.
Mr.. Buxton asked about the quail
-ty of goods to be made. Col. Fries
stated that the finer grades of yarns
could be made with more profit, and
that the mill should manufacture
finer grade of goods than any in the
State, and put it's product in compe-
tition with the mills of the North.
Mr.. James A. Gray believed the
plan was entirely feasible. He
thought the capital could be raised.
Winston Salem people never attempt
athingwithout accomplishment. Now
that the railroad enterprise had been
pushed to successful consumation,
it was time to take hold of
something else. We are on the up
grade and nothing can stop US. No
man has watched the growth of this
city with more pride than I, and my
ambition is to see it the leading city
in North Carolina in every respect.
The tobaccoindustr is growing too
and l believe that it will continue
grow, but we need a diversity of in
terests. The proposed enterprise
would bring 1000 people to the city.
They must have the necessaries of
life and more merchants will be need
ed to supply them. One industry at
tracts others, and when we make
this a Certainty it will be easier to
get others. The cotton factories in
the State are paying from 10 to II
per cent. dividends and the enter
prise could be made to pay here.
Mr.. Henry w. Fries said that the
sentiment of the meeting seemed to be
unanimously in favor ofa cotton fac
tory, and the way to get it was to
plank doWnthe money.
DR. Shaffner asked how much mon
ey would be unlocked by the Roam
oke & Southern transfer and Col.
Fries answered that 100000 had
been subscribed to the construction
company.