The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-03-18

fabrics. thereby making themselves rlch
and their State a centre of manufacture
ing industry. All these men begun on a
mess grow slowly and surely. The
other enterprising and far-seeing citi-
zens who followed the successful exam
pie of the men named have also b, sen
the States great benefactors, doing
more for it than any other class of
citizens.
What has been done. with small capt.
tai and the lack of many helpful facili-
ties. shows what may be done i'm manu-
| featuring in North Carolina when large
| capital and ample facilities are en-
ployed. Although North Carolina has
more spindles than any Southern State,
we are merely at the beginning of the
great manufacturing era that stretches
out before us. There are already enough
plans matured to increase the cotton
milling industry forty per cent and UNI
less all Sings Iui INT HeAt zen years
will witness such expansion in manu-
featuring in North Carolina as will make
it the States leading industry. There
is every reason why this should be so.
We have the water power, the raw
material. excellent transportation facili-
ties which are shortly to be greatly in
/ far.nD sod tn Jaf n oil n IN aJlI
everything needed to make manufacture
ing profitable. And now we have also,
what has been lacking heretofore, men
of business sense with the necessary
capital. to establish large plants and fully
utilize the water power that has SO
long swept unused TO the sea.
The exclusive publication by this pa
per yesterday that syndicate COM
posed of Messrs. Benjamin n. Duke, Jul
liam S. Carr, Samuel T. Morgan and
chased the famous water power at
Lockville, Chatham county, was the
best piece of news that has been pub
lished in this decade. The value of that
power has been known for an hundred
years, and various parties have made
plans to utilize it. The one thing lack
ing has been large capital in the hands
of men who knew how to plan and exc
cute large business undertakings. These
three North Carofnians who are at the
head of the Lockville syndicate have
shown large capacity. they are known
all over the country, they have sufficient
means of their own to carry out the
plans. and they can without trouble Sc
| cure as many associates as they de-
sire to carry out on the largest scale the
plans they have matured. This syndi-
cate has not only purchased tho mao
nificent water power at Iockville. bur
two other valuable water powers adj
jacent, and it is their purpose to utilize
them fully. erecting factories and sup
plying light and power to towns and
cities in central North Carolina. The
full carrying out of these plans means
the creation at and around Lockville of
one of the largest cities between Raleigh
and Atlanta ON the Seaboard Air Line
Railroad.
| The purchase By this rich company
of the Locllville water power means
more than the development Of that wa
/ ter power and section, and more than the
million dollars to be expended there in
the first plant and purchase. 1t means
an ultimate Investment there of three
million dollars. but it means more still:
it means an impetus to manufacturing
in North Carolina that cannot be meas
ured i'm dollars and cents. 1t will turn
the attention of the whole country to
North Cardinals advantages. Hoarded
money is looking for safe and profitable
investment. Capitalists are not satisfied
| with three per cent securities. When
| they see that North Carolina millionaires
put their money in North Carolina
dirt North Carolina water power, and
| North Carolina factories they will be
anxious to join them in investments
which have uniformly proven profitable,
when we'll managed, from the day Ed
win M. Holt started his little factory