Bryan morning eagle. [volume] (Bryan, Tex.) 1898-1909, 1899-08-13
labor of any sort, aud who

"oi W any SOFT, auu VINO
= actual want and destit' te..,,
y hart. an1so' .s-s.l--.. ~ Only
l16,t Nj The money would have TO
"A sent out OF the community on ac-
count % machinery. The above capi.
tai would build a mill that would em-
ploy about one hundred operatives.
The completion II mill may always be
haslened beyond what could be done
with the ordinary Income by borrowing
money to complete the mill at once,
and then pay back as IL is paid into the
treasury IN installments 10y the stock
holders, Whenever this has been done
the mill company has commonly made
notes which Lave been made secure by
Endorsement of the directors. For this
reason IL is desirable 10 have sci Of
directors whose financial responsibility
is we'll known.
The workings Of the plan are similar
in every respect % the operation Of
building and loan association. tits, la
fact, building association plan, where
the money Is put into cotton factory,
instead OF into houses In the usual way.
The benefits are even greater than In
the case Of the ordinary building and
loan associations, because permanent
business Is made, which continues Tor
an indefinite period, while The building
and loan associations, although giving
a number OF houses, make no further
business with the capital they accumu-
| late.
NVl.,, a.. ,.,,,,..,. l.. ,,..t 80 g, .....
In, aud no money Is borrowed, the plan
Is slow one. but IL must be considered
that where the plan Is adopted II IN US.
ually because there Is need for an easy
plan. Al 80 cents per week 10 Il always
possible TO get a mill In operation with
onc-third IT, spindles in twelve or eigh.
teen months. Al The end OF three years
the mill may usually Doe in fan opera
ton This plan has been tried "a suiici.
ent number " times o. make sure ID is
no experiment The only cases Ia which
Il has ever failed are those where the
management has been conspIcuously
bad.
such a company, organized 40 say-
ing- institution, without any intention
OF building factory, would be- a hcneh.
cent institution in any little tow o
where there is little accumulated capt
tai. Having fund. accumulated on
the plan above described, tit Is invest
ed 300 cotton factory, under proper
management, the advantages of an or.
binary town wishing. 10 get start In
manufacturing are iucalculabIe. south.
| ern development Is suffering enormous.
| ly, in my estimation, on account Of a
prevalent idea Ia many places That 10 Ia
| dependent entirely on getting foreign
capital 20 come south. The south is
/ iull OF towns IN which The subject OF
manufacturing Is being agitated where
the only idea Ia 20 get somebody from
somewhere % come TO the town 20 build
a factory.
! ON one occasion, whore delegation
visited me, ! asSed what could be done
Tan the town that the committee repre-
ber tied. The answer wac: I'VE can't
York aeh Ia the way ~ capital, but we
0i the finest climates Boa the
hsish reminded them that they
jefferson CHauied somebody elsc 10
Hale. the mid capital, knowledge and
wbo vas lmnco,G proposed 20 furnish the
,a,.,ros.ion.i bal wind, as 10 were.
-, H. oeiri' n tck, idea Of the f1rego-
tition. containing working plan in
cepted by Secretary Die, just as a sug.
filed Mr. Hale had ased ON the sub.
names than was necares nc 800 per
law. s. of $3.50 Der