Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1899-11-25
HICKORY GROVE MILL.

HICKORY GROFE MILL.
What Has Been Done SO Far and Why
There Is Hesitation.
Upon inquiry of gentlemen from
that place this week, the reporter was
informed that the subscriptions to the
Hickory Grove Cotton mill, now
amount to something less than $50, 1000,
and have come to standstill because
the subscribers feel that they have
done all they can, and that, therefore,
they can do no more.
But the enterprise is by no means
dead. The more progressive element.
of the town and community is as stead
fast in its purpose and as hopeful as
ever. As an illustration of the feel
ing, it may be interesting to report that
one prominent business man has ex-
pressed his Willingness to dispose of
all other intel ests and risk all that he
has in the venture. He is influenced
not only by the conviction that the
investment will be a good one from
the standpoint of dividends but that
no effort of the community would 80
rebound to its general material benefit
as The building of cotton mill. An
other gentleman, who has made most
liberal subscription, takes the ground
that if sufficient money to build and
start the mill cannot be raised now, he,
for one, is willing to allow his money
to 20 10 the erection of building,
with u view to filling the same with
machinery when the subscribers get
more able.
The spirit and intelligence of the
gentlemen referred to is admirable.
The benefit that $4,000 cotton mill
would be to Hickory Grove and sur
rounding country is difficult to esti-
mate. Among other things, there
would be plenty of steady work, at
fair pay, for many who are now idle
for a considerable portion of their time.
The cotton market would be helped, a
vegetable market would be created,
and there would pc ready sale for a
large quantity of firewoud that is now
not marketable. There would be more
trade for the stores, room for other in
dustries, and last, but not least, good
dividends on the capital invested.
But with all due Difference to the opin-
ion of the gentlemen who fear they
have reached the end Of the row in the
matter of raising the necessary capital,
We beg TO say that in our opinion they
have only scraped the surface of the
situation.
In years past, effort after effort to
build cotton mill in Yorkville failed.
The sum of $4,000 10 100000 was
several times raised for that purpose
but generally that was as far as the
enterprise would be gotten until the
York Cotton mill project was started.
Even this project was not smooth sail
ing from the start. Distrust, jealousy
and pickering threatened several times
to smother it, and except for the per-
sistent efforts of very few of the
promoters, who were in real, down.
right earnest, the tremendous con-
cern that has added so greatly to the
industrial life of Yorkville would still
be only dream.
1t is not worth while TO review the
history of the York Cotton mills Just
at his time; but there are a few
points which might be mentioned for
the encouragement of our Hickory
Grove friends. For instance, before
the mill was completed, several stock
holders sold out at par, and after it
had gotten in operation but before
it had paid dividends, others who had
probably been uneasy all the while,
sold out at the same price. There is
one instance of stock holder who sold
out at par to a man who had an offer
of S11O, and another instance where
stock brought $105 within day after
it sold at par. The recent transaction
in which Mr.. Ashe bought 1S0 shares
from Mr.. McNeel is still of fresh recol-
lection, and it may be interesting to
add that experienced financiers believe
that Mr.. Ashe will make that stock
pay for itself without his ever having
to 20 down into his pockets for cent
of interest or principal.
Our friends out at Hickory Grove
have the capital to build a cotton mill.
To say that the town and surrounding
country has not the cash or the bank
able collateral on which they can raise
$4,000 or 100000, is absurd. There
is plenty of brains and ability in that
section too to run the mill successfully
after it has been built, and we venture
that if the mill is built, within six
months after it has been put in opera
ton, the only regret among the stock
holders will be that they did not get
down to business a long time before.
Penal and Charitable Institutions.