The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-11-22

(Amorican Wool and Cotton Reporter.)
Work on the new mill at East Dur
ham, n. c., which is being built by
the Durham Cotton Mills Company, of
which j.. S. Carr. of Durham. and the
Odells, of Concord, are the owners is
progressing finely, and it will soon be
ready to receive the machinery.
The Roanoke mill, of Roanoke Rapids,
n. c.. IS this week installing new looms
With dolby heads from the Worcester,
Mass. works of Crompton and Knowles.
This mill has for some time been MAX
ing fancy striped mapped goods. and
they are Of good quality and workman
snip. The mill will now branch out on
another new line Of goods.
The Cannon mills. at Concord. y. c..
are making valuable additions and i'm
provemcntS. and adding to the quantity
and quality of the help, more expert op-
c~ratiyeS being engaged especially.
$. II. Holt. J. +. Faucette and 4. G..
Curtis have incorporated the Daisy
Hosiery Mills Company. at burlington.
\. {. The basis of the new
is a small hosiery plant, which has been
III operation there for Il year or more.
but it is understood that a large plant
will grow out Of it iii the course Of de-
velopments. and that this was the OBJ
ject in Incorporating the same. The
capital stock at present is only 1900.
4 limit Of $4,000 being stated III the
incorporation papers. Mr.. Holt owns
3S shares and Messrs. Faucettc and Cur
It's 10 shares each, of 500 Per share at
present.
The Cumberland mills. III North Caro-
lima. have been ordered to be sold by a
decree of the United States District
('nnrt f,r III, I,.4or, ni+,:+ . Nj
Carolina. They are located near Fay
ctteville. =. c., in Cumberland county.
and are valuable property, our CORE
%Spondcnt writes. The facts in the case
are embodied in the following e%xplana-
ton. Colonel j. W. AIspaugh. of Win
Ston. in 1891. became Il stockholders Of
the Eastern Building and Loan Associa-
tion If Syracuse. y. Y. He tllereaftcr.
for the use Of the Cumberland mills
borrowed from the association SooOoo
which was secured by 4 MORTGAGE on the
property Of the Cumberland Mills Cor
noration III North Carolina. of which
.ol- Alspan@h was p ident. Principal.
interest and premium were PAYABLE ~
New York, and the contract was made
with express reference 10 the New York
law. Such contract is legal in that
state. The building and loan asSocia-
tloli instituted q foreclosure SUIT. CHIN
ing that It was q New York contract
ny the decree the contract is sustained
III It's integrity. The plaintiff RECEIVERS
the full amount Of its claim. S24364 %
ana z foreclosure of the mortgage i
ordefcu: Colonel j.. w. Hinsdale. the
l"ai!ilh solicitor. was appointed com
missioner 70 sell the property. which Is
- :. me most valuable water powers in
,he state of North Carolina. 1t has
been the intention of canitolists IA
inrther utilize this splendid water power
either by building a large addition 10
lhe Cumberland mills or erecting a new
illll throughout. After the present fin
ahclal difficulty is bridgcd by the cot
!lennent Of this suit in the way Indicated
it IS very probable that the stems nro'
posed some time ago will be taken. and
,i'hS new looms and spindles bea ri
n ,unn at TINS point during the YEAR
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