The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1893-03-23

y. =; J !; j. !: !;
| I0HIIX0 01mill," usually
ha NhNI(f4 costs about SIS
FIJI nW VkAT2 to $40 per spin
| Y\~M ~ die, the variation
| = n being due to
~ N varying local
- w conditions a
prices of materials, AID to the kind OF
equipment put into the mill in the
shape of cotton machinery, power, FIRE
protection, etc. The cost Of mill to
spin and weave also will vary from
SIS to SIS per spindle.
The factors that enter into the cost
of mill are land, bricks, lumber,
labor and machinery equipment. OF
this the land, bricks, lumber and labor
exist in abundance in any Southern
community. In saying this it must
be understood that bricks are nothing
but combination of clay and labor,
while lumber is nothing more than the
combination of timber and labor.
Therefore, when factory is built in
any Southern community the only
money actually necessary to be sent
out of the community is the money
for the machinery. The money paid
out for making brick and the money
paid out for saving lumber and the
money paid out for labor all stay in
the South, and these all cost the South
no extra money, but simply little
extra energy. The money to pay for
machinery must be raised, and, Of
course, while the money required for
bricks, lumber, ETC., stays in the COM
munity, money must be used as a
medium of exchange.
There has been devised at Char
lotte, N. c., plan by which cotton
factory may be built on very easy
terms and yet be entirely successful.
The plan is as follows: Organize
company of say $4,000 to build
spinning mill of 5000 spindles, with
twisting spindles to correspond. Let
all the stock be subscribed, payable
fifty cents per week per share. A sub
scriber for twenty shares, $1,000,
would thus pay $40 per week. At
this rate it would require four years to
pat the stock to par. With 500 shares
subscribed the mill company would
have an income of 81 900 and upwards
per month, or nearly $4,000 per
year. With this latter sum all build
ings could be constructed and some
surplus still remain to pay on ma
chinery equipment. Having the
buildings constructed and paid for and
some surplus in the treasury, and the
company having an income from
stock holders of about $1,000 per
month, a contract could then be made
for the power, shafting and about one
half the cotton machinery, starting in
operation with say $500 spindles
within eighteen months from the
time of the organization of the COM
pany. Having once succeeded in get
ting $500 spindles in operation, the
remaining equipment is simply mat
ter of putting in the machinery as the
money comes in from the stock
holders, until in a little less than four
years the entire capital stock will have
been paid in and the entire mill should
be in operation.
At Charlotte, N c., three mills
have been built on the above plans,
with some notifications as to details.
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 4
per cent. since completion. The stock
of the other two is not yet completely
paid in, but both mills are doing well,
and the stocks of both are considered
good property. In the vicinity of
Charlotte quite number OF mill
companies have been organized, and
in some cases the mills have been put
in operation and others are in course
of construction, the mills already
built or being built on this plan prom
ising success without exception.
The plan is explained in detail be-
cause it seems feasible and desirable
for Southern towns, where land, labor,
lumber and bricks are abundant and
cheap, and almost anybody could
afford to take ten shares equal TO
81, 900, payable in weekly installments
over period of four years, and any
business man or firm could we'll take
twenty to fifty shares, and out Of the
business that would come out of the
construction and by the easy terms
almost grow richer by the amount
subscribed and never feel the weight
of the payments.
A spinning mill of 5000 spindles
would employ about sixty hands with
pay roll that would amount to
about $500 per week to the labor
alone, besides which the money paid
for salaries, for supplies and profits
would all go in circulation in the
town. This money would go into
circulation every week in the year,
and as fully in the summer as fall, and
would have a tendency to make
business better all the year round in
the cases of towns where the farming
industry alone supports the mercantile
interests.
A mill of 5000 spindles running on
yarns from No. 16 to No. 26 would