The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-03-25
COTTON MILL NOTES IN NORTH
CAROLINA.

tAmerican Wool and Cotton Reporter)
The now Hope mill No. >, of Fayette-
VILE, \. c., is TO be equipped with steam
power, and the machinery is now being
put IN. 1t was 10 be operated by water
power and a costly dam had been built,
but high water. caused by a freshet.
destroyed it few days ago. and as the
same calamity might bcfall it again il
rebuilt, the management of the mill de-
clded to equip it with steam power.
The Pilot Cotton Mil Company, at
Raleigh, \. G., has promoted TO the SUI
pcrintendcncy of that mill. Mr.. Neal T.
Brown, particularly capable and bright
young mill man. who began life in the
mill business ut the foot of the ladder
and has occupied subordinate positions
at the Pilot for some time. gradually
rising from time to time. however. until
now he is in charge Of the plant.
Fifteen new machines have just been
received by the Dairy hosiery mills. of
Burlington. " c.. which double the
capacity of the newly established plant.
1t is TO be still further enlarged in the
near future, we are informed 1t has
been for some time running on double
time, Il practice which it viii be neces-
sary to continue to keep up with orders
in the future.
The Caraleigh Bingham mills. of Raj
eigh. \. c., on March 18th declared a
dividend of four per cent ON the prefer
red and three per cent on the common
stock of the company, payable on April
! /. The books of the company for the
transfer of the stock were closed on
Monday, Goth instant. The Report
er's' correspondent at Raleigh writes
this week that about one year ago the
stock of the Caraleigh mills sold for less
than $50 per share. whereas this week
there was Il demand for it at par $500
per share). ana but little of it purchas-
able at that price. there now being a
bid for several thousand dollars worth
of it ut that price: that shareholder
who has a large holding stated to him
that he would not part with it for $40
cash. This is one of the best managed
mills in North Carolina, the state where
the largest dividends ever paid by any
cotton mill have beeen declared, and
since it began operations about seven
years ago, the stock has doubled in
market value.
Lincolnton is to have n new mill, which
VIII he at first equipped as yarn mil
and later ON a weaving addition will -be
built. Mr. A. NJ. Price the proprietor
of the enterprise. tells the Reporters
correspondent that the mill will be built
on the London mica mill property, recent
~ bought by him. that the main build
ing at first will be 100x50 feet. with
picker-room and engine house attached;
that the mill will he equipped with the
best latest improved machinery that can
he secured for manufacturing fine yarns:
that later on the building will be mate
rally enlarged and weaving equipment
added. The contract was let last week
TO w. w. Motz of Lincolnton, and
work on the buildings win begin at once.
1t is stated by those in position to
know that this will be the beginning of
one of the largest cotton manufacturing
establishments in North Carolina. Mt.
Price, the chief owner, is a practical
mill man, and for years has been the
efficient superintendent of several of tho
leading mills of his section, several OF
which he aided in building, and is now
owning a pecuniary Interest in the same.
| lie has acquired all his plesent capital
out of the cotton mill business.