The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-23
SPINDLES WILL WHIR AGAIN.
SAVANNAH COTTON MILL TO BE PUT
IN OPERATION.

= Movement Now on Foot with This
End in View-Savannah Capitalists
Have Been Looking Into the Man
ufacturing Situation and Believe
There Is Money in the Business in
Savannah-Vice President Crane of
the Southern Bank, Says the New
Company VIII Have the OppOrtu-
nifty of Getting Complete Plant
at "a Very Low Price.
There is a very good prospect that the
Savannah Cotton Mill, which has been
idle for good many months, will again
be placed in running condition, both finan-
| cially and mechanically Steps are now
being taken to this end and it is under
stood that a meeting will be called with
this object in view within the next few
weeks
The reason for not taking action imme-
diately is that several business men who
are expected to take an interest in the
enterprise have not yet returned from
their summer vacations. No effort will
be made to secure public subscriptions
in order to re-establish the enterprise but
it Is expected that several gentlemen of
financial standing win get together and
| reorganIze the company, putting it on a
safe basis financially
The Southern Bank is now the owner
| of the property, having bought it in at
auction about eighteen months ago, the
sale having been made subject to bonds
hypothetical with the bank by the COM
pany for the purpose of securing means
with which 10 increase the equipment and
| provide a working capital Several efforts
have since been made by the bank to dis
pose of the property but without sue
cess. The bank has recently had exami-
nations made of the property by experts,
who gave il as their opinion that the
plant is valuable one and can be put in
running condition at very small expense.
MIR. Horace A. Crane, vice president of
the Southern Bank when seen about the
| matter, said: Steps will be taken short
| ly to re-establish the enterprise and put
| the mill in operation We have had the
| property examined by experts who report
| that the plant is in good condition and
| that 1t can be put in operation al a small
| cost. A small percentage of the machn-
! cry is not well suited to the work and
| would have TO be done away OF the
! 1850 spndles of the mill fully three
! fourths are well suited for the work for
| which they are intended the making of
| cotton yarns, both white and colored
| The very satisfactory condition of the
| cotton milling business throughout the
/
made by the mills, and more particularly
! the small mills. has aroused renewed inter-
est in the subject of cotton spinning in Sa-
| vannah," said Mr. Crane. Those who
| have looked into the matter are convince
| that there is no reason why a mill SHOULD
not be operated here at a profit The on
| ly objection that can be raised 10 the pres
ent plant, If any. is that il is too small.
AT the same time the reports show that
! The small mills throughout the South are
! yielding the larger profits The opportu-
| nifty for renewing the experiment of cot
ton milling in Savannah is an unusual one.
| A complete plant thoroughly equipped.
! can be obtained for much less than its
cost, or the cost Of building and equipping
a similar plant. The bank Is simpy in
terested to the extent of getting back the
| money which it put into the enterprise and
does not care. of course, to go into the
milling business. Being already largely
interested financially however, we are. OF
course, DESTROYS of encouraging the enter
prise. Under proper mana cement there Is
no reason why the mill should not be made
a paying enterprise. The success of cot
ton spinning in Savannah being once DEM
onstrated other mills would follow with
resulting benefits 10 the city. The Oppor-
tunity for making the experiment is an ex-
cepiional one and think VIII be taken ad-
vantage Of"
Mr.. Crane explained that one of the diff
culucs Of the old company was that II
never had sufficient working capital, hav-
ing begun in debt and remained in debt
until it's financial difficulties forced The
company 10 cease operations. The stock
was held in small amounts by a number
/ of stockholders, who were deSrous of i'm
mediate results in the way of dividends
and whom it was difficult to get together
on any concerted plan. Under the reor.
ganization the company will be composed
Al.
will be amply able to finance the enter
prise through any difficulties that may un
expectediy arise.
The mill is located on four acres o
ground, in the eastern sUbur bs of the city
and is a substantial brick structure, tw,
} stories in hight, 260x100 feet, and has tn
advantage of rail connection with al
roads entering Savannah. It is equippe'
for making white and colored yarns viii
! 1910 spindes and Al cards, with room 70
increased equipment. 1t has suficien
steam power TO run the whole and its ow1
? | electric light plant and artesian well
[ When in operation the mill had no diff
Guilty in obtaining a full supply of whit
labor on reasonable terms. Coal can b
delivered at the mill. from ihe Norther
/ mines by sea- or from the mines of Ten
nesSee and Alabama by rail, at abou
$275 or 50 per ton of 2.240 pounds. Hav
2 | ocean freight rates the rates TO III
; North on the mill products are very low
, and Savannah being one of the larges
cotton exporting ports of The country Their
is always a large supply of cotton on han
from which TO make selections. Bein
, located outside the city limits the propert
/ pays no city taxes. Many of the opera
e. lives, who were formerly employed in tn
mill. are still living in Savannah an
- would undoubtedly be glad to see the mi
put in operation again.