The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-12-26
LYNCuBTRG'S COTTON MILL.

Lyncnbnrg News; On yesterday morn
ing the board of directors of the Lynch.
burg cotton mill held II meeting at Gug-
geuheimer X Go Office OIL Main street
and declared semi.annual dividend o.
1 per cent. Ia addition to tie Dividend
the sum III ;s22, coo was carried To the he.
serve fund, which makes II showing that
Will compare tavorably with that of al
most any mill of similar capacity in the
country. IL is indeed "A superb showing
and is not only creditable to the officers.
but is gratifying TO all who are int rested
in the progress of one of the greatest en-.
terprises of the city. recent issue OF Il
New York commercial paper contains
Il complete statement of the dividends
declared for the year 1897 10y the cotton
mills Of Fall River, Mass, and an exam.
ina ton o the table shows that the Lynch
burg mill far exceeds them in profits for
the year. In this connection the same
paper said: Fall River dividends for the
last year will he found in tabular form on
third page. They are shown in greater
detail than ever before, for which reason
they are the more interesting. The cap
ital invested amounts to $23. 433. 00O.
which includes the Arkwright Enll in
course Of construction. Less its capital
of $500 900. on the Investment of S22 g33,-
000 there was pal in dividends $776 800,
or an average for the year of 50 So Der
cent, which explains the present move
ment fol reduction III wages, which,
however, cannot improve the condition OF
the market, nor stimulate BUYERS ~
During the past year, there has been con
siderable talk among Those financially in.
tercsted in the cotton mill of doubling its
present capacity The company owns an
abundance Of land for the purpose and if
the expressions Of many gentlemen
largely interested in the enterprise NAV
be taken as an Indication, the question
of doubling the capacity will he seriously
considered at no very distant day
This information in regard to the cot.
ton mill at IIynchburg should receive
careful consideration of the business
meE: of Roanoke. The cotton mauuiar-
turing industry of New England is no
longer profitable and the capitalists of
that section have hcen forced to acknowl-
edge tht he South offers the only field
where the manufacture of the raw cot
ton into cloth can be successfully con
Quoted Virginia lies next dour to the
cotton belt of the South, with easy and
cheap con- munlcaiion with the ularkets OF
the North and,Wcst, and being blessed
with every requirement necessary to turn
out the finest article ut minimum. OF
cost should receive The earnest attention
of capitalists in search of profitable en-
ployment for their means. a gentleman
OF this city is in receipt of a letter from
one of the large cotton manufacturing
firms of New England in which many
questions are asked as to the advantages
of this city for cotton mill The Ger
respondence will doubtless result in n
visit to our city by those making the in
quiries and il is to be hoped tLat oar
board OF trade and other public spirited
clti%ens VIII make nm effort o lay before
them, as well as other manufacturers Of
New England, the peculiar advantages Of
Roanoke rs II location Cor cotton mill