The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-11-05
TO BUILD ANOTHER COTTON MILL.
A New England Mill Mans PROPOSE
ton TO BE Acted Upon.

Savannah has a chance for another cot
ton mill. Mr.. Samuel Hale, who recently
established the Dixie mill at LAGRANGE
and who has been interested for some
time in the move to build a mill here,
has submitted a proposition by which a
mill with a capacity Of 1900 spindles and
300 looms can be built and put in opera
ton in Savannah, provided 100000 of
bonds on the plant are taken by Savannah
people.
Mr. Hale is a New England mill man
of wide experience. Provided he is sue
cessful in establishing a factory here, he
VIII make Savannah his home. Mr.. Hale
was here last week and went over the
field thoroughly with a number of Sa-
Vannah men interested in industrial enter
prises.
The proposition under which bond sub
seriptions will be asked is, briefly, this:
To organize a company to be known as
the Chatham Cotton Mills, with capital
stock of $4,000, TO be bonded not to ex-
coed $4,000, the bonds to bear
per cent. interest, paya-
bic semi-annually and running twenty
years, and to be secured by first mort
gage on the mill site and factory. The
conditions include a guarantee that the
building and machinery will be first class
and capable of turning out products equal
in quantity and quality to the average out
put of other cotton mills of the same ca
pacity run and operated with efficient
machinery. All of the capital stock and
$4,000 of the bonds Mr.. Hale guarantees
will be taken by himself and his asso-
ciates. The remaining $l0G090 of bonds
must be held in Savannah. The cpnditions
of payments of subscriptions are that %
per cent. be paid in when the com
pany Is organized, . per cent when the
mill building is completed and the remain
ing 80 per cent. as needed in equipping
and putting the mill In operation.
Mr. Hale has not fully determined where
he will locate the plant. He prefers South
over Junction, but is not certain whether
he will place the mill there. If he can
get more land at a less price on the Cen
trail railroad, not too far from the city,
he will consider a location on that road.
He will not build on less than forty acres.
The mill will require a faSory building
400 feet long, $50 feet wide and two stories
high. 1t will need about $50 operatives. Mr..
Hale has just completed a mill at La
Grange, called the Dixie Mills" costing
$4,000. The Savannah mill will
be duplicate of it. Any
one who wishes to inquire about
Mr.. Hale, who has been in La Grange for
two years, can write DR.. f. NJ. Ridley of
that place. The Dixie mills have so far
proven a great success.
Mr.. j. L. Whatley, who has taken hold
of the matter and will undertake at once a
canvass for the bonds necessary to secure
the enterprise, has investigated the mill
question thoroughly. He says there is no
doubt of the success of the enterprise when
in proper hands. 1t is understood that the
Oglethorpe Savings and Trust Company
viii be the trustee for the bondholders.
The machinery for the proposed mill is
now in New England and is guaranteed by
Mr.. Hale to be In good condition. of the
best make, and capable of producing goods
as cheap as any mill in the south.