The times. [volume] (Richmond, Va.) 1890-1903, 1899-12-22
COTTON MILLS OF
SOUTH CAROLINA.
Pay Handsome Dividends and Their
Stock is Above Par.
STEEL PRODUCED AT tNSLEY.
or Twenty-Onc Tests as To Its Quality
Not Single One Has Been I'm
satisfactory-Activity in Pbos-
phatc Fields.
STEEL PRODUCED AT ENSLEY.

BALTIMORE, Dec. Elm letter 20
the Manufacturers Record of this week
the Spartanburg. 5. C., correspondent
gives list Of semi-annual dividends re-
Gently declared by the cotton mills of
that vicinity He mentions tho Clifton,
per cent; the Spartan, per cent; the
Enoroc. 4 per cent: the Converse Com
pany. 3 per cent; the Tuscapau per
cent: the Whitney. per cent; the Lock
hert, per cent: and the 1aurens Cotton
Mills. per cent. In addition the pacolet
declared per cent. quarterly dividend
on a capital of 100000, and all the smaller
ones declared the usual dividends Mr.
Cleveland writes:
"The banks here are having the same
prosperity. all paying the usual hand
some dividends. ranging from per cent
per cent. scmi-a1nually. II l. almO
impossible TO buy cotton mill stocks In
our local mills. Pacolet is bringing 500
per share on a par value of 500 Every
mill-siotk is at high premium. and the
next twelve months will show larger pro-
fits than ever before. being anywhere
from 20 10 GO per cent. on the capital
stock invested.
This healthy showing, typical of many
Southern mills. is a tremendous adver-
tisement OF the South as cottOn-man-
ufacturing region which is daily attract
ing more strongly than ever the attention
of capital in other parts Of this country,
and indeed i'm England This is reflected
in the continued activity In mill building
and mill improvement Among the
movements of the week Is the deter
mination on the part of the Mills Man
ttf.t 1ft Of
to add to its present main building. which
is four stories high and 10j by l61 feet, q
structure four stories high and los by ll2
feet. thus completing the original plan
Of the mill designed TO accommodate $500
spndles The mill started with 600
spindles and has now 1900 spindles and
go looms To these will be added 1000
spindles and 400 looms. requiring from 90
to 800 more operatives. for whom so cot
tagcs will be erected. Other plans in
clude a 5.0O0-spindle plant for the Alpha
Cotton Mills of Jonesville. : G.. 1904
spindle plant for the Cheswell Cotton Mil
Company Of Westminster. :. c.. a BOO
spindle and 200 loom plant FOR the McRae
Cotton Mills Company Of McRae Ga.
800 additional spindles for the Indian
Head Mills of Cordova. Ala. 63G addition
al looms for the Trion Manufacturing
Company. Of Trion. Ga. 500 additional
spindles for the Darlington. 5. g.. Man
nfacturing Company. the development
by $4,000 stock company Of the Shoals
near Hickory s c. 90 operate a plant
Of 800 spindlos and 90 looms 10 be- re-
moved from Springvale. Mo.
IRON AND STEEL.
The healthy condition of the pig
iron market at Birmingham con-
tinues. though there IS siill some
embarrassment in handling raw
material and the product because Of the
shortage I'm cars. or twenty-one tests
Of the quality of steel produced az the
steel mill at Ensey. Ala, not a single one
has been unsatisfactory. and negotiations
are i'm progress now for varying lots Of
steel with indications favorable to the
placing Of all the management may offer.
In addition TO the various plants at
Birmingham now under way. nearly every
one OF the older industries IS largely adj
ding to its capacity by buying new ma
chinery. The demand for the latter con-
tinues as strong as ever with dealers be
hind on their orders.
The development of the phosphate de-
posits of Tennessee are accompanied by
activity I'm the Florida field James II.
Dorrah. Of New York who has purchased
Phosphate Company al Acme. expects
10 hold the plant already valued at Sl5-
O0G Phosphate has been discovered near
Eliston and near Floral City. Describ-
ing the situation. the Ocala correspond
ert Of the Manufacturers Record.
writes:
phosphate is quiet with our miners
Tor this month. Buyers across the water
are slow with their contracts. and scarce
q III hle.
bargained for whereas at this time last
year all contracts had been closed
However. The miners are not at all un-
easy as to the future prices or demand.
and feel sure that after the holidays
the market will Hven up. The miners
are utilizing the lull 10 get the plants
in good trim for. next years business.
and many of the new plants will be ready
70 open up by January. There are al
most twice as many plants now work
ing or nearly ready TO begin mining as
year ago. This will only hasten the
exhaustion Of supply and the buyers
realizing this do not look for much 'con-
cussion from the miners and holders OF
Florida rock"
NEW INDUSTRIES.
Among the industrial announcements
OF the week reported hy the Manufactur-
ers Record are the following:
Twenty thousand dollar ice factory and
10000 cotton mill company I'm Alabama
$4,000 cement company and $4,000 mining
company I'm Arkansas: 5000 barrel brew
cry In Florida: S30o00 water power de-
velopment company in Georgia: $4,000 ice
factory and 100000 fertilizer company
in Kentucky: $4,000 brick manufacture
ing company and $1,000 sewer system in
Mississippi. 100000 nuarrying company
1885,. 900 cotton mill company $4,000
finishing company. $1,000 hardwood COM
pany and $4,000 water power electrical
company I'm North Carolina: 1000 spindle
mill and $4,000 construction company I'm
South Carolina: $1,000 -four mill. $500
mining company. $4,000 water works
$1,000 marble company. $4,000 lumber
and box company and $4,000 chair com
pany i'm Tennessee 100 ton Ice plant and
$50 coo grain mill company In Texas S25,-
900 pants factory. $4,000 tobacco COM
pany and 10000 piano company in Vir-
gsnia: $500 coal and coke company.
81 .ooO.Ooe telephone and telegraph COM
pany and 20 coke ovens in West Vir-