The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-03-14
co.opERArIvE FACTORIES.

has been adopted very geheraly IA .H'
efforts in this line in the South. Inc
plan has been adopted in South Oaroiina
more extensively than in other states
The Charleston News and Courier sent
n representative of that paper to the To-
calities at which these mills have been
established and he gives the working OF
the entire scheme and the Tradesman OF
Chattanooga epitomises the facts reported
showing that success has always been
attained.
The usual way of doing it is to fix the
stock at 800 a share. payable in dollar
payments weekly. They do not, however,
mt off the building and equipment of the
mills. but when as much as $1,000 is paid
in which is done in about two weeks, the
company is organized, the site selected,
purchased and paid for. In some cases
the location for the building of the mill IS
donated or exchanged for so much stock
nv n land owner of suitable place, and
the improvements go on with the rapidly
characteristic of any enterprise that is
so novel and that engages the actual
working man filled with hope of profit
from an investment A laboring man is
aroused to new interest and energy IN
having an opportunity to take stock in n
mutual concern Of this kind. He feels
that permanent work is assured nm by
being one of the incOrpOrators or stock
holders and that his wage-earning capacity
is not subject to the whims and caprices
of an overseeing or mill boss.
The Tradesman gives an illustration of
an enterprise of mill with a capital
stock of $50, OOO-500 shares of 500 each
must be subscribed for, this brings into
the treasury $1,000 month AT
the end of the first month enough money
is on hand to begin buying brick with
which to erect the buildings, and from
that time on the receipts of $1,000 a month
carry the work to the completion of
everything but the purchase and placing
of machinery. At the end of six months
the locality has the certainty OF having
q factory, and the expenditure of that
$4,000 a month in the place where there
never has been a factory gives the
whole community new life and evidences
of prosperity, and enables the very men
who have been keeping up their weekly
payments of dollar to make enough
out of the seed they have planted to tide
their families over TO the time the mill
will be in full operation. Real estate ad-
vances in the community, the chicken
and garden truck raisers have been more
prosperous and are ready to become in
vestSrs in the scheme.
With the expenditure of $4,000 every
thing is complete except the machinery.
The share holders having gone thus far
in keeping up the payment of their shares
and having valuable buildings already
erected that obligatcs n further eXpendi-
turc for proper machinery, and it can
he bought on easy terms. The cost for
the power of such factory would be
about $4,000, but with our dam water
power at our doors that cost would be
very materially reduced. For the rest of
the machinery for the size indicated
the cost would be about $4,000. These
figures are made on u yarn mill. The Or
der for machinery can be safely given
about the time the buildings are COM
pleted and by the time the machinery is
delivered there will have passed into the
treasury $500 or $4,000 from monthly
payments of stocks. Atthe end of the first
year, after having given work all along
to the stock holders the factory is in
working order.
This is n point we will stop at; that
factories built up in this way are very
profitable there can be no doubt. But at
present it is only necessary for our pur-
pose to show that we can build mills
ourselves and independent of outside cap
ital and utilize the power afforded us by
the Colorado.