The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1894-06-20
THE EVENING NEWS. WEDNESDAY. JUNE 20, 1894.

aside 20 Der cent. annually from
the profits as a sort of improvement
fund for series of years. The
Manufacturer Record recently
published an account of tire success
of the Gaffney mill in clesring over
20 per cent in one year. These
companies are not specially favored.
Others have equally good chances
for making and selling their pro.
ducts, and some are doing equally
as we'll. The ones quoted are
but individual instances. have
been careful not to say that they
have declared dividends of the
amounts named. Rarely do they
pay over 10 per cent. The balance
goes into surplus. 1t is generally
understood that the Newberry mill,
which is being doubled in capacity
to nearly 10000 spindles, has al
most enough surplus to pay for this
Improvement Nor is the money
making confined strictly to cotton
mills. The cotton oil mill owned
by DR.. Mllwee at Greenwood,
S. c., earned about 90 per cent
profit last year, and it is small
mill at that.
Here arc some of the reasons for
this truly astonishing prosperity.
To begin with, much of the mill
product is sold right at he me, By
this it is Ieckoned that about / per
cent, is saved manufacturers in com
missions to their sales agents, the
freight one way to New York or
whatever market the goods are sent,
AID the charges for drayage, storage
and rehandling are billed against the
factories. The local merchants-th
dealers in the State-save a certain
amount by buying direct in freight
charges, owing to the short distance
the goods are TO be shipped. Ex-
pert cotton makers estimate that the
expense of making cotton goods is )
per cent. less in this section than in
New England, Itrequires certain
temperature to work cotton to the
best advantage. Here this tenn.
pera!ure can be maintained at
much less expense the year around
than in New England. Ii the wealth
er is colder, so much less yarn can
be finished in a given time. This is
a special point in favor of the South.
And here are some more. Soft coal
can be bought delivered at 50 rs TO
S3 90 per ton. A comfortable frame
house can be built for $l0O-nearly
one. fourth what 1t would cost in the
North. 1t can be rented 80 much
cheaper, and with the necessities of
life also cheaper, the scale of wages
to hands is from l2s per cent, less
than paid in New England. These
figures are calculated after compari
sons of the wage-lists of several com
panles. Other items could be de-
tailed, but these are enough to show
cotton can be manufactured in the
South at a profit, when Northern
mills cannot make it and clear ex-
penses. An old pioverb has it,
'sThe proof of the pudding is in the
eating" The proof of this asser.
ton is shown in the profits of the
milling companies.
AS conse quence ..of this state of
affairs several new mills are .projec'
ted or are being built. i have alre ady
stated the owners of the New berry
mill are charging it to nearly
40, coo spindles, and the Pelzer
Manufacturing Co. will make
improvements to machinery, putting
in more modern designs N. b.
Deal is Interested in proposed mill
at Laurens, S G. DR.. G. K Fleming,
of Spartanburg, S. G., and others
have organized the Tucapan Manu-
featuring Co. with $50, 900 capital
to build a Is 900 spindle mill near
Wexford, on the Tiger river, where
they have a waterfall of fifty four
feet. Lockwood, Green d. Co., of
Boston, are their engineers. J. B.
Henry, of Greenville, S. c., is in,
terested in forming 100000
company in that city to build mill.
A new mill has been started at
Lockhart Shoals, near Picknyvllle,
by c Farrar and others. The foun-
n