The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1899-08-09
SUCCESSFUL TRIP.
The Abbeville Cotton Mill to be Filled
with the Newest and Best Ma.
chinery-HOpe Ends in FrutttOn.

President B. F. Bailey, OF the Abbevllle Cot
ton Mill, has just returned from business
trip North In the Interest or bis mill, and, as
usual, he comes back. successful in his un:
dertaking He had no trouble In securing all
the machinery that will be needed to ill all
the floor space Of both the mill and the
annex.
His success from the first has been pbenome.
nal. and that success has been attained under
circu instances which. in one particular was
big job. AS everybody knows, this is
small community In which there were no
rich men, and whose aggregate property was
about three-quarters OF million. But they
had faith n mill property. and. had conn. conn.
small means raised about $4,000. Through
Mr.. Bailey's ability TO unite our people, re-
newed effort to raise the capital stock to $780,
600, was made.
The subscriptions, on his appeal was raised
to S73, 900. Land was bought and the contract
for building the mill was awarded to Captain
eagle of Greenville, who is acknowledged to
try, The mill house was finished and Mr..
Bailey made another effort to Increase the
capital stock, and the amount was raised
from S73, 900 to 100000.
sary machinery. The idea occurred to him
that he might secure help from investors In
the North, and so he went to New York and
Massachusetts on the mission In behalf Of
the mill.
He found Northern capitalists cautious. but
upon being satisfied as to the solidity Of the
structure, and the abundant supply Of
water, he met with great success and up
wood, Greene & Co., q large quantity of first
class machinery was bought, including 304
Northrop looms, 10. 600 spindles, and SO revol.
wing fiat top cards. But this machinery did
not fiji the mill, and in September of last
year, he bought 80 new looms and paid for
them out of the profits OF the mill. In jan
uary last he added 40 looms. bringing the
looms up to S76. And this Summer he added
800 looms, and other machinery. On his re-.
cent trip North he bought 2H Northrop looms,
and other machines amounting to over $50, ,OOO.
From 3O4 looms he has brought the number
up to $40 LOOMS All this In two years.
All OF these looms and everything else In
the mill has been paid for either by profits
from running the mill or from sale OF stock.
Besides the 100000 OF home stock, Mr.. Bailey
through his Northern friends, has sold $3.50, 900
OF stock In the North.
Mr.. Bailey's success In raising the capital
stock of the mill is not more notable than
architects and the right financial agents.
With Mr.. Stephen Greene to plan, and with
Deering. Milliken q Co, as advisers, the mill
was furnished & With the latest and best ma.
| to set the machines In motion, it is not sur.
prising that the mill may be thus early set
down as a splendid success.
With limited supply of needed articles.
the mill has already realized during the first
six months Of this year q profit of eight per
cent. on the entire plant Sl5O,OOO has Just
| D6en put IN, or Will arrive WlLDlQ Gue
] next sixty days. With a full complement Of
| machinery the stockholders In the mill may
reasonably hope for good things.
While Mr.. Baiey's success in building the
Abbeville Cotton Mill is unprecedentd In these
parts, yet 1t need not be forgotten that the
manu- facture OF cotton Is peculiarly a South.
ern enterprise. Except cotton and cotton
seed we have little material In sufficient
quality to warrant an outlay in manufactures.
And the increasing number Of mills Is not
surprising when we remember that no we'll
managed cotton mill, having the hest ma.
chinery, has ever failed. Failure can come
only to badly managed mills, or to those
which have old machinery.
| From the water tube Babcock boilers, and
the compound condensing engine to the Nor
throp looms there Is not a second class ma.
chine in the house. When suitable water Ia
secured, when strong and substantial houses
are built, and when they are filled with up-to'
date machinery, under proper management
success may be predicted with as much
certainty as the finite mind can count on
anything In the future, which Is less sure then
absolute certainty.
The Abbeville Cotton Mil is no longer an
experiment. 1t may be set down IA one OF the
accomplished facta. and Mr.. Bailey's abi iity
to run II is not doubted by anybody. He has
managed 10 hold the friends OF the mill loya
| to him, and possessing their confidence In q
wonderful degree. some of the home stock
holders have entrusted to him very large
per cent. OF their small estates. The success
of the mill has satisfied them and now hope
ends In fulton.