The times. [volume] (Richmond, Va.) 1890-1903, 1895-07-28
BARTER IN PROSPERITY.
False Rumors Affecting ReYiYal Of BuSl-
ness in This Country.
HOW THE MORE SOpDID hight PROFIT
Denial THAT n Valuable Mil Property Il
on the Markct-Tradc Awakening an"
the Good Results of a Settled Policy.

with the revival OF business IN TINS
country. and with tho prospect OF splen-
old harvest here and Toor one in Great
Britain. c,ne rumors OF English synoi-
Gates anxious TO buy American mill prop
critics. I'm order TO ,rarsfcr them 20 Brit
ish investors. who have plenty Of capital
bui no satisfactory means OF probably
using 49,
How FAR these rumors are due to the
sNll Of company promoters who are
looking out for large commissions there
IS no way OF finding out accurately. The
chaeccs are. however, that up 20 the
present the ,xpi0itcrs Of such schemes
have been making heir investments %"
paper e.ho
greatest Of the NeW England textile idc-
tories has been rcneatcdly mentioned az
having been sold 10 an "Enellsh synll-
tafc.' without tho shadow OF foundation
for such statements. n promoters couia
once induce either the English or the
American investing public 10 believe thal
the great Pacific Mills. OF Lawrence
Mass were in the market at any price.
OF that am option could be secured FOR
the transfer OF such property 10 new
owners. they might naturally calculate
upon producing = stampede both among
the anxious WOuld-De investors and the
owners of mills. who would be willing 90
accept q high price for them.
T. n. Haynes. the New York agent or
the Parife Mills. was asked yesterday 10y
a reporter for the New York Times N
hc knew of any intention on the part OF
the owners OF majority of the stock 20
dispose OF their holdings
"Ihfrc is absolutely not a scintilla Of
truth JOB such rumOfs. Mr.. HAYNES re-
piled. "Ihe subject has not even been
mentioned 90 those who control the Pa
cIhc Mills. Nor DO 1 know Of any mills ia
New England which have been sold or
viii Doc sold, 70 any English syndicates.
The truth Is that the hulk Of the stock
OF the Pacific Mis- IS held by q few FAM
iles who regard their holdings as a kind
OF sacred trust. 20 hand down to their
children. They are satisfied with the mills
amy other inve stmcnt where theer money
would Doe so safe. both at present ami for
the future
"Just now the stock is selling al 11SD.
hut very little OF 10 comes on the market.
Ten years ago the price was $50. and
yet tle stock was as closely held then.
in spite OF IFS high price, as it is H.
or the amount OF stock outside OF the
hands OF the principal owners. many
shares are owned by the employees who
Ike 70 become cooperative owners I'm
small way, and regard one or Two shares
Of the mill property as an excellent in-
Ntstuent FOR their savings
DSt now notice is posted up an the
mills that wages Will be advanced on
August 9Th. and we an feel Glad that
the treasurer has seen his way clear o.
take this step The business outlook was
never more encouraging in my rocollec-
ton than 10 IS to-day. WITH splendid har-
vests IN view and fair prices to farmers
ior the crops there VIII certainly bo q
largely increased purchasing power on the
part Of consumers an over the country.
Il saw a. merchant from Texas lO-day
who told me that his State was on the
eve OF greater prosperity than 10 ever had
before The curious thing about this
mans statement was that le-las always
hitherto been croakcr. When ] remind
tI him of his attitude
slOns he said that things looked so bad
last year lu San Antonio that many of
those who lived there were seriously c0l-
sllcring the ACCESSIBILITY OF moving 10
some other part of the country. Tho
sheep had 90 Doe Killed on account Of the
drought which had AN equally bad effect
upon an crops. Now the price Of wool
has risen, and an The Texas crops are
iOursling.
gwen from Nebraska. which has suf-
feied this year from drought in some
places. i hear the most encouraging ac-
counts Of general activity in business.
ana OF great future prosperity. Better
Than all, the return OF this prosperity
has killed the silver craze which threat
cued 10 upset the general confidence I'm
stable business conditions Though ] dO
mot believe i'm many of Mr. Cleveiand's
political views I must give him the cr dif
of having put down the silver asitlt .on.
ln that respect 1 think him better than
Dis party
"How has the Wilson tariff affected
the price of textile fabrics?' the reporter
asked Mr. HAYNES.
''Wel. we have had 10 cut prices down
in some limos of goods ON account of
foreign competition. Take the case OF ALI
wool printed challcs. which we put ON
tho market last year at a. - cents. To-
day. owing TO French competition, we
have 10 sell these goods at % cents.
That is clear reduction Of 40 per cent
OF course. We have the wool free now.
and we always had TO use soft imported
Australian woods for such fabrics
con the other hand. there are certain
lines of cotton printed f3bris used chief
ly for huugings. where we sell the goods
Tor the amount the French would want
for printing them. with the cotton thrown
iu. for nothing. And 81 the French goOls
oi this Kind We're put ON this market
our STYLES and designs would gain ths
preference (vory time n prices wers
equal New York Times