The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1894-06-12
COOPERATIVE COTTON MILLS.
How to make tho South n Manufi,c.
turing Centre for the World

, How to make the South Manufi,c-
turing Centre for the World.
Mr.. ID. A. TOmpkins, of Charlotte, N.
c., one OF the most successful cotton
manufacturers in that section, has an
interesting article in the Manufactu-
rcr's Record on cooperation in build
ing cotton mills.
Mr.. Tompllins shows how companies
can be organized and the money raised
by weekly payments for building COT
ton mllls in such way as to make the
organization OF such companies feast
BILE in hundreds Of towns whore it would
be impossible to secure large subscrip-
tiOns. In the South we have few saw
ings banks compared with those in tho
North, and we need enterprises that
Will encourage the habit OF saving and
investing portion of the weekly earn
ings OF tho average citizen. Building
ana loan associations supply this want
to some extent, but we need co-opcra-
tive companies to push industrial en-
torpriscs with tho capital that can
easily be furnished in small weekly in
stallmcnts from thousands of our pco-
pie.
The success of this plan in Charlotte
speaks for itself. Mills have been
built near Charlotte by subscriptions
payable weekly in small sums foi. one,
o"o' i'ui anu ciSnJ years, DQG tho
favorite plan is that Of paying so cents
per week on a share for four years. At
this rate 1000 shares would make u
capital OF SlOO,O 600. sum sufficient to
build cotton mill of about 5000
splndles, with looms enough to weave
their product. Mr.. J'ompkins gives
the following estimate for such a mill
Employees, men and boys, 30; women
and girls, GO roll per week, about $3.50.
In North Carolina the products of
the different mills vary greatly. At
CharloIte one mill makes warp yarns,
another skcin yarns doubled and twist
ed. another makes both warps and
skolnS, another white cloth, another
glnghams. another countcrpancs and
towels, another stockings and knit
goods. Those mills which make col
orcd goods must have dye works
III the subscriptions to tho stock OF
an lnstallmcnt mill are made payable
at the rate OF % cents per wG&S "ar
share, and the capital srbsGrib ---
Sl0o,0oo, then in the nrst year tho
amount paid in to the companys treas
ury would be about $4,000. With this
money the buildings could be built and
paid for, leaving II surplus in the treas
ury. The buildings would be main
| building, engine room, boiler room and
houses on cottages for the hands to
| 1--we IN. In some special cases, whero
the factory was to be built i'm city,
these houses might not be built, as the
hands could find board or houses to
rent near by the factory in the city.
| Generally speaking, however, it is
best so put factory one to four miles
away from city, and let the company
build and own the houses the cmpioycs
| live in.
In Charlotte no house rent is charr-
cd, the factories furnishing houses FREQ
OF rent. In some other places ront is
chaiged at the rate OF 81 per room.
Considering that subscriptions were
being paid regularly, and that the
buildings were all completed and paid
Tor at the end of about one year, and
that the company's income was about
5000 per month from regular Install
mcnt payments on subscriptions. then
under these conditions about 300
spindles and appertaining machinery
could be bought for Il good cash pay
mcnt, and the remainder payable 81 900
to 5000 per month. In about sixteen
to eighteen months from the time the
hrst payments were made the mill
could be started up on about one.third
TO one-half its capacity : then the re-
mainder of the machinery could be ad-
dcd and started ur from time t, time
as the money continued to come in
by installments.