Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1895-06-06
$1O7,OOO,OOo.
The Immense Capital Now Invested in
Southern Cotton Mills.

The Immense Capital Now Invested III
Southern Cotton Mills.
BALTIMORE, Md, May %
The special cotton mill edition
of the Managacture"s' Record OF
this week shows that amount Of
capital invested in Southern cot
ton mills increased from S21,-
100000 in 1880 and SCI, 100, 900
in 1890, to $1O7, 100000 at pre-
sent, while about S12, 900, 900 ad
ditional will be spent in the con-
struction of the mills now build
ing and projected. In 1880 the
South had 667, 900 spindles, in
1891, 100000 spindles, and at
the present time 5000. 900 spin
dies, while the mills under con
struction will add 100000 more,
or total of $500, 900 spindles,
thus doubling the entire cotton
mill business of the South since
1890. A number Of leading New
England experts give their views
upon the cotton manufacturing
advantages of the Southern
States. Mr. D. NJ Thompson.
President of the Corless Engine
Company Of Providence, and for
years manager of the largest
mill corporation in New Eng
land, running over 100000 spin
dies. says Of the South's cotton
mill facilities:
Years ago after a careful
consideration I become fully con
vinced that the South professed
superior advantages for the
manufacture of cotton. yarns and
coarse goods I have since had
no occasion to change the opin-
ion then formed. I have great
faith in the possibilities Of the
South. l believe it is and will
long continue a profitable field
for investment in the manufac-
ture Of cotton. [ believe there
is an almost illimitable field for
the extension of our cotton
manufacturing in this country
and with the extension into finer
numb of yarn and higher
grade of fabrics in the North and
with the opening of new markets
through the agency Of the South S
superior advantages, vastly
large product of coarse goods
can be made, I believe that the
extension of the manufacture in
the South should be encouraged
by all people. It will establish
a bond Of interest between New
England, the Middle States and
the South, which will be of great
good to the interests of the ma
ton and in the near future will
be recognized in the industrial
and political arena of our coun-
try as a factor of national i'm
portance."
Mr.. G. B. Makepeace, a lead
ing New England cotton mill
engineer. says: 1.-The next ten
years will show a great increase
in the numb Der of spindles in this
country. think large per
centage of 1t, even including the
finer numbers, wilt be in the
Southern States, and it is an in
disputable fact that the average
number of yarns spun in the
South has been raised from
coarser to finer counts more
rapidly than has been the tend
ency in this direction in New
England. The phenomenal sue
cess of some mills erected in the
South during the last four years,
which are making a finer grade
of goods than has been the Gus
tom in that section, will cause
others to change to finer goods
It is nothing more than natura
that the large percentage of the
increase in spindles in this coun
try during the years to come
should be at advantageous points
i for manufacturing, situated neal
the point where the cotton il
grown, than that the iron indus
try Of this country should centre
some where near where all the
raw materials for the making o
iron are found"