The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-11-28

ly under the management of Mr.. CLARK.
One mistake was made in the start, to-
wit investing $102, 900 with cash cap
ital Of only $40 600. This debt, OF
course. had to be paid before dividends
could be declared and this. with other
causes, prevented the immediate success
which was needed to give popularity to
the enterprise. 1t was recognized after
some years that the fullest success Of the
company would be promoted il some one
man of large means and larger capacity
owned q controlling interest, and would
devote much OF his time to its manage
ment Gradually Mr.. A Branch, enc
of the richest and wisest of Wilson's
business men, bought the stock of those
who desired to sell, and became the
President Of the company and the owner
of the controlling interest, there being
only is other stockholders. Mr.. w. L.
Simpson, who was cashier of the bank
ing house Of Branch IL Co, was made
Secretary aud Treasurer of the mills, and
under their management of strict bust
ness methods there was steady improve
ment along all lines, aud when Mr.
Branch died in 1893, the Wilson Cotton
Mills had come to be among the most
prosperous of the manufacturing inter
ests of Eastern North Carolina IN his
will, Dir. Branch named Hon FL. q
Conner and Mr. w. P Simpson his exec
utors, giving them full control and man
agement of the mills. Mr.. Simpson was
elected President and Mr.. James Lips
connie Secretary and Treasurer. These
gentlemen have had no ambition except
to carry out fully the plans TO INFLATED
by Mr. Branch, and to make the enter
prise prosperous and successful They
are among Wilson's best citizens-far
sighted in business, upright in life, and
systematic ia their methods Mr.. r 0
Packard is the efficient Superintendent OF
the mills. The operatives, numbering
10, are industrious, worthy and highly
respected = e.. f~ssesa
The original cost of the plant of 1000
spindles, including valuable real estate
and houses for operatives, was S102, GEO
In 1893 new Corliss engine, which cost
$4,000, was added, and S., 900 more was
spent in other improvements in the way
OF new machinery, buildings, &c.
OF the 767 shares of the capital stock
of the mills, sol shares are held by the
estate of the late A Branch, which his
executors are instructed to hold in
solo block, thus preventing changes in
the management, as is oftfn the case
with corporations of this kind The
following statement of the resources OF
the Wilson Cotton Mills, January 1st,
1894, show the cond ton of the property
one year after the present officials, Pres
ident and Secretary and Treasurer, took
charge Of j.:
Resources of the Wilson Cotton Mills
January LIST, 1894.
Merchandise, ncIuding
stock ia the mills, cotton
on hand, and manufac- 49,. ~.
tured goods unsO q, pZ0,.tpoVJ
Cash on hand and in bank, 3zo.o%
fego "aI' l2,0lI 25
once furniture g20.G2
Supplies consisting ofbelt-
ing, paper, coal and wood, l,ZZ9 w
Machinery, cost, 9llV' io@ ~ - ooo 40
Deduct for wear, 30 isz.'o looW w
Real estate, z9'oio.oi
Total resources. Sl39,9J2 80
The average operating expenses, in
cludink salaries and fuel, of the mills
aggregate $40, 900 year. The annual
product is one million pounds OF warps
and--yarns. The facttry is lighted FROM