Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1896-03-19
Cooperative Cotton Mill System.
Manufacturers Record.

The Manufacturers Record has
persistently sought to encour-
age the organization of cooper
alive cotton mill companies in
the South. The success of the
mills established on this system
demonstrates that the South can
utilise this method of aggregat
ing its capital, encouraging it's
people to systematic saving, and
in doing this furnishing the
money needed for indus trial d. =
velopment. What the savings
banks Of New England, with their
several hundred million of accu-
mulated savings. are to that sec
ton, co operative cotton mill
enterprises may be to the South ;
in fact. tthey can be made Of even
greater YaIue, because, while en-
couraging the habit of saving,
and thus giving to the people the
lnducement to accum ulate their
earnings as the savings banks
do, they bring into existence in
duStriat esta blishments which
furnish employment to hundreds
of hands and more thau double
the value of such accumulations,
They help the Individual and
help the community, and one acts
and reacts upon the other. The
Charleston News and Courier.
commenting upon a company of
this kind organized AT Columbia,
S. c., says:
LAS reported IL our Colum bia
correspondence yesterday, the
directory Of the Carolina Cotton
Mills mas decided to invite bids at
once for the erection of a 10, 600
spindle cotton mill, to be erected
on the site already purchased
The special interest of this an
nouncement consists in the added
that this company
was organized last September,
and is drawing in its capital
stock on the installment plan of
81 per share per month This
means, in brief, that by the plan
in question Columbia has raised
enough money in six months
among It's own people to enable
it now to begin the work of build
ing 10000 spindle factory on
ground already paid for; and that
the mill will be completed, and
the 10000 splndles will be spin
ming, and 1000 or 1000 more
people will be added to the popu-
lation Of the city, and many
dollars will be added to
the property of the city, and
many more thousands to the
value Of property already in the
city, and considerable business
will be added to the business Of
the city, and better market
will be provided for the products
of farms around the city. and
outside money will begin to come
in. in exchange for the mills
goods, to leave margin of
profit for distribution in the city
before this time next year
'And all this has been assured,
not by sending a committee to !
the Northeast to beg for sub
scriptions from few rich
but by a few score Of
the people of Columbia, who are
not rich, 'chipping in a dollar a
month apiece to build a mill for
under the instaIl-
ment subscription plan.
''lr is a good and effective plan.
cit has quilt many successful
mills in North Carolina; it has
built one of the most profitable
mills in South Carolina; it will
build the Carolina Mill at CO.
lumbia; it will build mill any
where; it will build the proposed
new mill in Charleston-not the
big capitalists ts-but the small
the very small capi~
talists, the merchants and clerks
and bookkeepers and working
men and working gwomen gen
orally, for whose benefit it is
proposed to build it, will take
one or two or three or five shares
o. stock apiece, according to
their means, and pay from 81 to
IS a month, according to their