The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1894-02-28
Cot Operative Milling.

The subjoined editorial from the
Wilmington Star Of the l4th instant
is full of suggestions to every COM
munity in the South. 1t points the
way to seif.development and the
utilization of our advantages by our
own people. We need not and
should not wait for outside capital to
come in and reap the profits from man.
ufacturing advantages which this Sec
tion possesses. The cotton mill capital
lists ofthe north are already feeling the
competition of the southern mills, and
their next step will be determined
effc1t to control the business in the
South. If we Go not wish to see our
opportunities seized by others, now
il the time for MS to be moving. Char
lotte shows us what any community
can do by sensible cooperation and q
nnited effort. Sumter can do what
Charlotte has done if everybody will
but work together Now is the time
to revive and push to success the
cotton mill project agitated several
months ago:
The Star says 3:
Mr.. John Kayanaugb, Of Augusta,
Ga !. has an interesting commnniea.
tion in recent issue of the Chronicle
on the subject of cooperative cotton
mills in which he cites North Caro-
lima as an illustration of what can be
done by well directed effort in that
way and in which he takes occasion
to highly compliment North Carolina
vim, energy and thrift He refers to Q,
Charlotte, especially. which led off
ON the cooperative plan and set an
example which was followed by many
other towns in the State, and con-
trasts the selfreliant, progressive
spirit of the people of this State with
the inertness Of some Of the COM
munities in Georgia, which, although
possessing great advantages as manu-
featuring centers, fine waterpowers,
&C., quietly sit down and wait for
some Northern man or company to
come along with big pile OF money
and start factories for them.
There are, we think, FIVE cotton
factories in Charlotte which were
started ON the iDstalment plan, the
payments being made monthly at the
rate of Al per share Of 500, proper
tionately more if more than one
share was taken, aud proportion
ahly less if less than one share was
taken. This was so arranged In some
of them, at least, that person who
didn't feel able to take $l0O share
could take less, which enabled every
wage Garner who cared to become
interested in that kind of a scheme to
do 80. and in such a way as to keep
ND his interest without Inconvenience
to himself.
AS far as our information goes,
these enterprises have been in good
hands, have been well managed and
have hence been successful. Good
management, is of course, always a
requisite to success, no matter
what the plan upon which an
enterprise is constructed may be.
There have been some failures in this
State of industrial enterprises
established on the instalment plan,
but it was always where there was
something lacking or some bad
management which would have made
failure inevitable in any case.
Some sections have the advantage
of concentrated capital which can
essily be commanded for the estab-
iishment of industries, or have many
citizens with large capital seeking ir'-
vestment, so that where there is g
prospect of reasonable dividends there
is not much trouble in establishing
new enterprises, When one man
does not care to invest as much
money as may be necessary, two
may join or stock company be Or
ganized to establish it. The install.
ment plan is the joint stock company
so graduated that the humblest citi-
zen can become a stockholder and
share proportionately in the benefits
and profits with the larger share hold
ers
Although Charlotte enjoys the
distinction Of being the pioneer city
in this State in this thrifty
way of utilizing and saving the
small change much of which might
otherwise be squandered, the idea is
is not so very old there, not more