The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1898-08-19
The @esseWer.
SOUTHERN COTTON MILLS PROS.
PERING.

-
The south is prospecting and we hope
will continue to prosper. While New
England has been able to make four
or eight per cent. in cotton mills the
south has done better. We gave the
other dav what Crowder's cotton mill
at Kings M ountain, N. =,
a. dividend q + 25 per cent, with a cap
it'll of $50, 900. The great Amoskeag
, Mills in Massa chusetts made 4 per
q ,nt. for six m, onths, and they have
er eat capital ant are immense. The
rk Cotton Mills forkville, S. G,
bes Ut the Kings Mo untain mill Tor 1t
Jared 35 fer cent, with a capitai
sto ok of s55, 900. Glover cotton MILL at
over, s. c.. declared recently a DIV
end of 25. per cent. It l. as SEQ, 900 cap
y tai. Other mills have m ade big div1-
bends. and several are preparing to
enlarge business. The Ha
ley Company, Of Barnesv1lhe' Ga last
week took steps to treble its capacity;
-abe Cranky Cotton Mills, OF
< C are proposing to increase their
.ospral from 5000, 900 to $500 OOOy and
add 90. 1000 spindles and 500 looms to
.4ba eouipment; the Walhalla Cotton
Mills, Of Walhalla, S. c., have decided
10 put in Lightweight new looms and
3,24O spindles, increasing their capac-
stv from $50, 900 to $50, 900 yards per
month: the Pelzer Manufacturing
Company, of Pelzer, S. c., is install
ing 1000 additional spindles and max
ing other improvements; a new mill
- ~ ~ Co onnth-
er at Spray, N. c., and SO on.
The New England mill men are in
tribulation at the outlook. They real
ize now that the south has the inside
of the track and is steadily gaining
distance in the race for profits and
multiplying mills. They are much per-
picked cup there" and do not know
which way to move, how to act. They
have cut down wages, reduced time
and so on, and still the southern mills
lead and will continue to lead. TIL
situation is not pleasant and the way
out does not appear. The Springfield
Republican tells the doleful story tina
average weavers do not earn NOR
than half what they earned in 1873
twenty years ago. Then they receive'
from $12 to SIS a week and now bu
from Sc to 81. They have to rent chea1
and live close. The Republican is
readable republican newspaper, not in
fallible, but better than most of it
class. 1t says:
THE fall of prices obviously has no
helped the operative, and it is asSur
eddy the case that the manufacture
has not been benefited. The latter get
his raw material at a much lower pric
than formerly, but the price of his pro
duct has also been subjected to tn
same pressure which falls on the cot
ton grower, and he has not been abb
10 make good the old margin of prof
through wage reductions. This write
in The Wool and Cotton Reporter
able to show pretty conclusively fror
tie market records that the weaver a
tie present reduced wages receives
]orger proportion of the manufactur
Sr's margin, or the difference betwee
the purchase price of cotton and tn
selling price Of the mill product tina
he did when he was paid a 20 per cen
higher wage; and yet the weaver
worse off than before, as we'll as tn
manufacturer
This is gloomy and foreboding. Wha
will be the final outcome? Can it las
for years or must there be a turn i
the lane after awhile? There is EG
ward Atkinson who used to scout tn
idea of greater southern advantage
and boast of his New England master
ship? The Atlanta Constitution dis
cussing the trials of the New Englan
country puts in it's wedge in this wiss
Demand refuses to materializ
prices will not lift above the level
which New England itself has doom
ed them. Far to the south old mil
are putting in new machinery, ar
increasing their plants, new mills a
going up and all of them are runnir
to their utmost capacity and payir
large dividends, their operatives hal
by, contented and earning remune
ative wages.
1T is clear that New England do
not know what to do about it. H
newspapers evade the truth, her or
Giles deny it. = s 1t is tough news
impart, but the cotton industry of Ne
England is not yet at the end Of i
troubles 1t must adjust itself to {
the conditions that the gold standaI
involves. Dividends must be cut dow
the genial stakeholder who had mon,
TO burn in behalf of sound currenc.
will have to burn a good deal mo
~On that altar"