The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-10-17
cOTTON MILL ENTERPRISE.
PROSPECTS GOOD FOR THE HIM
OF THE sPINDLEs IN
THIS CITY.
SENSIBLE BUSINESS TALK nv
HON WALTER TGps.
He Believes the Mil VIII pov 49,
Bigger One Would Pay Better.
A Meeting Called for Next
Tuesday Night.

prominent citizens interested :, ,ho
cotton mill and the upbuilding Of Austin
held meeting in the Board oe IT,
hall last afternoon ~ the intcras+ IS -
enterprise, President Leboji ~ me me
board OF trade called the meafin, 'te
order and it was briefly addressnS "
Hon. Walter Tips He smoke ~ ~
dement, that Austin and the suTro,,nd;ne,
country would receive by thu sncrassf,Si
/ operatlon ~ cotton mil and he orgnnd
that 1t oqid certainly prove paving in
dustry. He urged ali citizens IN f,ho
an interest in il, saying: We 20 car lake
expect others etraugers, to come boro
TO invest ~ this business Of huildin-
mills unless We show our faith in if m
selves. We cannot manufacture irc,.
nor can we expect to manufacture woS
for we haven't the material. There ar.
three things necessary for successfiIl
acturlng-material, power and
have them. We have not the labor =,
is cheaper in the Eastern States and in
the other Southern States where mills
| have long been esta blished, but orr othn,
neutrality-suspicious. material and power
Will more than compensate for the higher
price of labor. | believe cotton mill
vii pay here and if l did not wonld nov
advise the building of one. 1 am certain
1t Will pay If it is properly managed. The
proposition before us is to build n.
S15O,OOO mill. A $350,OOO mill, to INV
mind, would be better, but that seeIls
out of the question. We have tbereforn
determined to build one to cost $500
and so far as | know no one interested
in IT is in it for speculation No oue
seeks any personal good out of it. Mr.
Gildard wants to put in his work and
mODpV q otbnr
and he comes to us with the highest
recommendations l am in favor of rails
ing the S15O,OOO and building the mil
but I'm not in favor of raising S1OOOU
and borrowing the other $4,000 and
having mortgage on the mill l am
opposed to this. We ought to raise the
money, but so far we have only $4,000
or $4,000. The last statements of the
five National banks in this city showed
that they had $1,090,OOO in cash, and
one-seventh of that sum would build the
mill, and that money is idle. What we
want is confidence in the enterprise
That is what the people want. We haya
been brought up to merchandise and 40
farm, and to loan money at 10 to II per
cent. and it is hard to change and get
up interest in manufactures. 1 Am
satisfied cotton mill properly managed
VIII pay here better than bank STOCK
1t will not only pay better in the city
but it will pay in the country. Farmers
will have better market for what thcy
raise. Even if they do not get more for
their cotton they will have a bet nr
market and can sell more of the produces
of the garden and orchard. l hope The
farmers will take an interest in the mill.
| hope to see the enterprise a success aud
L believe it will be if we work togetlpr
and get the people interested"
General Openheimer said: 1T seems
TO me that the best thing we can do 10
help on the enterprise is to get the geo
pie together, and explain the enterprise
TO them and let them understand fully
just what we mean and just what We
are doing. L suggest we have a com.
mittee appointed with subcommittee for
each ward to notify the people to be
present at another meeting to be held, at
which they can learn just what we OK
pect to do. If we can get them together
and explain to them believe we will find
no trouble about the other matters"
Mr.. jeff Johnson cOncurred and moved
that the meeting be called for next Tues.
day night
Mr.. Raymond suggested Friday night (
of this week, as he thought the busir css
should be pushed.
Mr.. Tips agreed with Mr.. Johnson and
after some further discussion Mr.. John
sons motion carried and a meeting will
be held in the board of trade hall next
Tuesday night
A motion carried that Messrs. Tbs. Y
Openheimer and Eilers see Mr.. Eugene
Bremond, Major Littlefield, ]. A. Hooper
DR.. Taylor and other large property own
ers to enlist them in the cause.
A general committee of - was an
pointed to canvass the city between now
and Tuesday night. and upon the sugges-
ton of General Openheimer all those
having subscription lists are requested
to report the aggregate amount they
have on their lists next Tuesday night
The meeting then adjourned.