The times. [volume] (Richmond, Va.) 1890-1903, 1900-12-25
DOESN'T POSE AS
A PHILANTHROPIST
He is a Friend of Labor in the Gotten
Industry.
SUSTAINED TUMBLING MARKE 5.
Manu- fac;uror Borden, Of Fall River
Kept Hundreds Of Thousands Oh
Hands at Worll-What ho
Has to Say Of 1t.
SUSTAINED TUMBLING MARKETS,

NEW YORK, Dec. Ell do not wish to
pose in the newspapers. or else"heIe %
a. philanthropist. l do not think l an
one: I am simply a business man.
Cotton Manufacturer N. C. D. Borden
Of Fall River, Mass, who uttered these
words Yesterday in his Office in tins city,
was recently presented in a phiianthroPio
role. by a leading newspaper, ana type
echoes of it are now ringing in MS ears
from all parts of the country MT. Dor
den was evidently sincere in the ABOVE
utterance Voice and manner alike car
ried conviction with it.
The philanthropic frame has come
to Mr.. Borden arose out of an enormous
purchase of cotton goods recently tor
which there was then no immediate de-
mand in the trade. There was an over
production at the tine, and had ne not
made the purchase the mills would nave
been compelled to suspend operations VI
run on reduced hours, thereby throwing
an army OF wor11nen out OF employment
That act of splendid courage ana enter
prise was instrumental in keeping NaSt
manufacturing establishments going, ana,
in addition, it sustained wages. Deeds OF
this character are justly set down by
the world as pflilanthropic; but Mr. bor-
den will not have it so in his case. 1t
was, he says, pure business, SO far as ne
is concerned.
HIS PURCHASES.
On three other occasions, within less
than a decade, has Mr.. Borden confront
ed a market on the point of tumo!ins INTO
stagnation, if not panic. In 1891, when
calamity of that kind impended. he
bought $4,000 pieces of cotton goods. In
order to give the lay mind an adequate
idea of the magnitude of this transac-
ton, it is necessary to explain that a
piece averages from forty-siN to fifty
yards Here, then, was the enormous
quantity OF more than forty million yards
absorbed by one man i'll order TO avert
a crash in that great department of in
dustry. In addition. it saved fifty thous-
and mill hands from famine. Six years
later in 1897. another crisis arose. Again,
over-production threatened to bring on
an industrial cyclone. The market grew
weaker and weaker. When everything
was on the verge of collapse, Mr. Bor-
den again came to the rescue, and by
the daring purchase of a million dollars
worth OF cotton fabrics, restored comb
dence, revived credit, and put everything
on a sound basis again
Exactly a year ago the oninous shad-
ows OF a great strike began to mass them
selves in the Fall hiver industrial skies.
An advance in wages was demanded by
the mill operatives. The manufacturers
were resoute in their determination not
to yield TO their employees. Refusing to
enter into their combination, Mr.. Bor-
den swung loose on his own account, vol
utarily advanced the wages Of his own
men. 1900 in number. and thereby COM
PEELED his fellow-uanufaCturers to fall
in behind his leadership thirty days later.
In Fall River alone. the action of Mr..
Borden made an addition of $4,000 a week
to the wage fund, and not less that 10O,-
0A operatives in other sections Of New
England We're benefited by the broad and
generous policy he pursued.
AN OLD NAME.
The name of Borden is an old one in
the history of the cotton industry OF
Fall River: in fact, it is as old as the
industry itself, for the father of M. c. D.
Borden was uhe founder OF the industry
there. Three great establishments are
controlled by Mr.. Borden-the Fs-. River
Iron Works and Cotton Mills and the
American Printing Company. The ca
pacity OF these works that require for
their effective operation the services of
over four thousand men is enormous.
The annual consumption OF raw material
amounts to 1900 bales from which are
produced 111,01G,CN0 yards of cloth. That
would make a strip over 5O200 miles in
length, and extend around the world,
with many miles OF yards to spare.
In his dealings with his workmen the
aim Of Mr.. Borden is to be fair and to
keep them employed. Mr.. Borden dis
claims emphatically that he is a philan-
thropist. One thing is certain, however,
that every man and woman in the Bor-
den mills regards their owner as a bene-
factor, not only to themselves but to
hundreds Of thousands of workingmen in
the same line of idustry in other parts of
New ENGLAND