The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-27
The Cotton Min Industry.

! The fact that the Southern mills are
paying large dividends with the regularity
of clockwork is the best advertisement
! the South could have. The remarkable
fact about these dividends is that they are
paid just as regularly in hard times as
they are when times are flush and business
is prosperous, The secret of this is that
very few OF the Southern mills depend on
home consumption; but even if they did,
they can easily undersel all outside COM
petitors and still pay handsome dividends.
Spartanburg correspondent of the
Manufacturers Record gives in the cur
rent Issue a list of semi annual dividends
recently declared by the cotton mills in
and adjacent to that town, The Clifton
declares per cent; the Spartan, ga per
cent; the Enoree, per cent the Con-
verse company, per cent; the Tuscapan,
3 per cent; the Whitney per cent; the
Locbhart, per cent, and the Laurens cot
ton mills, per cent
The Pacolet has declared a quarterly
dividend OF per cent on capital of
sfoo,oOO, and all the smaller mills have
declared the usual dividends. 1t is said TO
be almost impossible to buy cotton mill
stocks in the local mills. On par value
OF 800, the Pacolet Is commanding $3.50
per share. All the mill stock is held at a
high premium, and 1t is predicted that the
next twelve months will show larger
profits than ever before-profits ranging
anywhere from 40 to 60 per cent on the
capital stock invested
Naturally, this promising outlook Of
iers very attractive invitation to capital
That is idle or that is earning only nomi-
nal returns. That the invitation is eager
~ accepted is shown by the continued ac-
'lNity IN mill building and mill improve
nehl that is going on in the South This
actiFity is 10 be observed everywhere In
lhe South where enterprise and energy
Ieslae' except, perhaps, in the neighbor-
hooa OF Atlanta, and why it has thus far
inaue no manifestation here is one OF the
nystsries which we shall not undertake
10 ramon. 1t Is Impossible to say WHY our
capitalists and our banks do moi turn their
attention to this great industrial move
Iheht and make arrangements to take n
pai vi tue immense profits that lie be-
.neen the raw cotton and the manufac-
tufea article. The little country hanks
IN south Carolina, owing to the wealth
e.ea'eu by the cotton mills, are having
bends. uai aiVi-
oo During the week the movements OF the
as important as usual. The MILL Ma ovn
'hA as company OF Greenville s q
las nay uetermined to add to It's presert ,noin |
= D,u,iuing' which is four stories Mol,
oo OF equal height. l05x1I9 Sao,
,,,t, 'piethg the original design ~ ~
~ % o mnich was for the accommodation
y. ss,Voo splndles. Starting viii, ecnn
d, ss this mill has now 900 snin-
snina, anu 10 these will be added 10 mn |
will col, ".u aoo looms, an addition that
for whom s,x .'v OF Soo more operatives,
,,s ueorgla doesn't figure yerv Nor -, o'
., S' LOT Inc week The Mcfae cntta, ~ ,, ,ue
.isae, IN this State, will n,t in tnos
SMs a and 200 looms ana IN ~ UP 'oov
NOTWITHSTANDING company will mn g., eco
IooMs, But in other Sta,as
the h "ay IN south Carolina and Aiaham
limit ~ =, continues; and. as there is no
capital g. ana no risk ON the part Of tho
this rre,, 20 nut fair to presume that In
take a baci .aeht Georgia will have to
prospect now. ieast such Is the
the as Tor Atlsnta-weI, IN .,.
dwe,,;n tnat her newspapers haun s. "
cottnn On the nature and extan, ossn
would would .uia. movement now going nobo ,as
alists sser suspect that Atlants,s nouy
heard or !, Auanta's bankers have ever
villages -, ~ or given it thought. Iittie
established e sne right and left OF us have
this thew ar luton mills. AS the result of
cotton than aDle to pay more for spos.l
drawing from ' IA buyers ANA are thus
Is sSon s'al business the wagon ,ras source
push time for Atlanta IN 90, ,',e'
' as The small boys say. So IN the