The weekly Iberian. (New Iberia, La.) 1894-1946, 1900-02-17
Witnesses,


Mr.. ID. A. Tompkin's of Char
lotte. y. c., has issued a pamphlet
entitled "a Plan to Raise CAPITAL
for Manufacturing" in which he
very clearly sets forth a scheme
whereby any community may raise
money enough to start some new
manufacturing enterprise. His
idea was advanced for the purpose
of fostering the building of cotton
mills in the south, but with slight
notifications they would apply to
other industries as well,
''Mr. Tonpkins is thoroughly
practical man." says the Times
Democrat of New Orleans, "who
has had experience in the Bethle.
hem Iron Works at Bethlehem.
Pa, one of the largest factories of
its kind in the world, and as mast
er machinistof a large factory in
the West. His plans of raising
the capital for new, factories in
the South is equally practical, for
under it noless than twenty cotton
mills, including many very large
concerns, have been erected in the
South, mainly in the Carolinas.
Among the mills erected under his
planare those at Chewalla, Edge
field, Ada, Alpha; Highland Park
Atherton and Fairfield.
The plan is simple enough, and
it is the adoption of the principle
of mutual companies and paymen t
by installments. A subscriber to
a share of 800 pays 81 weekly
for two years, or 20 cents for
eight years. On the basis of and of
subscription aggregating 800, 600
there. would be paid into the
compay in each year about s25,
900. With this. amount of money
the buildings could be constructed
and paid for in the first wear.
Within the second year one-third
the machinery could be purchased
and put in operation. In three
years from the time of organiza-
I it would be possible to have the
entire plant in operation with.
some debt, which could be paid in
the last year. A capital OF 800,
900 will build a mill of about 5000
spindles and 200 looms, Which
would furnish work for about 100
hands.
The plan of 80 cents per week
has been the most popular one
Mr. Thompain says, and it has in
all eases worked well, the result
havblg been dividened paying
manufacturing plants.
The completion of mill may
always be hastenad beyond what
could be done with the ordinary
income by borrowing money to
complete the factory at once and
then paying this money back as
it is paid the treasury in install
ments by the stockholders. Some
mills have been built, however,
simply by investing the money as
itcame in from the members. and
while this is somewhat low. vet
when the nFill is finished and in
operation it is usually so much
property ahead for the stockholders
for it frequently represents money
chat would not have been accumu
lated at all, except for the oblica.
fIon OF the stockholders to get to.
getller and save SO much money
each week or month. BY the means
o this plan any ordinary town has
within itself the resources to eft
ablish a cotton factory. And be-
sides establishing . factory, the
company is practically saving
institution for the people.
The plan, it will be seen, is
simple enough and successful be.
cause Of its very simplicity.
Mr.. TlomplSins gives tile nee.
essary charter bylaws and other
details required for the organiz.
alton Of mills, and a great deal OF
important and, indeed, necessary
technical information. His books
cannot fail TO do good, and will