The comet. (Johnson City, Tenn.) 1884-1916, 1895-04-04
A COTTON MILL
Is Possibility for Johnson City Oh
the Cooperative Plan.

III saying tnaJ enterprises, OI some
sort, must be started to give employ.
ment t. our idle laborers and Inechan.
les, and also to furnish business for
our merchants, trade for the surround
ing farmers, and demand for the
empty tenement houses in our mids'.
Practically, we have been non pro.
ducers for years; it is all lay out with
us, and no income. This can not go
on much longer. We must become
producers and have an income from
the outside, to the end that the laborer
and mechanic will receive wages in
cash, and expend II among us. With
this, l hand you clipping from a
late publication showing what is being
done in other places. Why can not we
do something of the same nature2
Our advantages excel any of the
points mentioned inNorthC Carolina, and
il our people will take an interest in
it, We will succeed Resp'y,
THos. E. MATsoN.
"Several cotton mills have been es.
tablished in North Carolina, and are
now doing successful business, which
have been built on the instalment
plan. The recent great increase in
the building of new cotton mills caused
correspondent of the Charleston
NeWS and Courier to make visit to
some Of these mills in order to a GER
tain by personal observation and
inquiry the merits of the system and
the methods in which it is applied.
He says in his report: We found
the mill men ready to furnish any and
all data asked for and all very enthu-
siastlc in the work in which they were
engaged. There are quite a number
of these mills that were started on the
instslment plan, and l have yet to
hear OF one that has faile1 to succeed
The common way of going about the
matter is to fix the stock at 500 pei
share, payable 81 weekly each share
BY this means the total capital stock
is paid up in full in two years. The
building and equipping, though, is not
put off for the two years, but as soon
as the stock is subscribed for, and say
$1,000 is paid in, which is done in
about two weeks, the company is orga
nized, the site selected, purchased and
paid for. In the majority of cases this
does not require even two weeks de-
lay, for the purchase price of the site
is taken in paid up stock, or, better
still, donated outright by the owner
or the community.
During this time other instalmentt
become due and the projectors are
able to tell definitely about what pro
portion of the subscriptions can bt
relied upon; seldom after the frs
payment does q subscriber fail to NEE
payments, and when such does occur
others are ready to take his place.
was reliably informed that the forfeit
ures were 80 insignificant that they
were not considered, and in one iu
stance they did not have single one
BUILDING METHODS.
Take as an illustration capital stool
o. $50,000-500 shares of 500 eacl
must be subscribed for-this bring
into the treasury $4,000 per month
the land being paid for with paid VI
stock or received as a donation. A
the end of the first mouth enough
money is on hand to begin making o
buying brick with which to erect th
buildings, and from that time on tn
monthly receipts Of $4,000 are sufficien
to carry on the work to the completion
of everything except the purchase ant
placing OF the machinery. At the en-
= of the first six months the localit
practically has factory, all excep
the equipment, and from the very
first new life is Infused into the bus
7 ness OF the place, as the expenditur
OF $4,000 per month for labor an
q material counts lsrgelY in an averag
! community that has not had an
manufacturing enterprises in it's mids
to say nothing OF the joyful hopes tn,
i spring up in every breast at tt
n thoughts of soon having the machinel
8 humming. Real estate advances an
i is in dem and, not ouly in the imm
l. date vicinity, but for some miles
b the country, as the iarms near |
s. invariably reap rich harvest by ha
ing ready market for all kinds of We
etables, poultry and other produce.
PLANE FOR EQUIPMENT.
{ With $4,000 expended, the facto
o complete and all paid for Except n
|. chinery) it is fonnd an easy matter
r equip it, as the shareholders ha
Il demonstrated their intention ar
Q ability to keep up their payments, ar
If that they are really in earnest in the
ar movement.
I'll Tho nIaus for nouinnino vary tn