The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1900-03-14
MILL BUILDING IN THE SOUTH.
Baltimore News.

The Manufacturers Record who has
just returned from trip of several
weeks through the South, in all inter-
view with The NeaCS gives some inter-
esting facts regarding the prosperity
Which is so noticeable throughout that
entire section.
"In every line of business, both
mercantile and manufacturing" said
blr. Edmonds, "the activity is greater
than has ever been known before in
the South. There is n spirit of hope
fulness, such as has no. been seen for
some years, though there is an entire |
absence of the boem spirit or speCula- |
tive activity which prevailed some |
eight or ten years ago. All business |
interests seem to be founded on the |
most substantial basis and the progress !
which is being made Is simply phenom-
email. 'Th activity is not confined to |
any one line of business, but covers
every industry and every part of the
South.
"I In textile circles it is illustrated
by the Tact that at the resent time
there arc between rs a:d 100 new
mills under construction, which will be
equipped with over 750, 900 spindles,
representing an Investment of about
$lS,000,000 to S20,000,000. Adding
to this the enlargement of established
mills, some $50 900 900 OF new money
is now being put into Southern cotton
mills. But even at this rate of dcvcl-
opmcnt there seems to be no possible
danger of the business being ovcrdone,
so long as it is wisely managed In
round figures, there are about 100 ,000,-
D0O Snin1lpS in thp world Ihr South
furnishes about threc-fourths of the
worlds cotton supply, or sufficient, ex-
pressed in another way, TO run, say,
75,000,000 of the worlds spindles, and
yet, including the MILLS now under
construction, has less than 5000 900
spindles. Even should the South add
TO its otton-manatacturing business
an average of l,000,0O0 to 100000
spindlcs n year, us seems probably, 1t
would, at the end of 10 years have
presenting a capital of about $400 ,000,-
900, or enough spindlcs to continue,
say, about one-thild of its average cot
ton crop but in 10 years from now
the cotton crop, instead of averaging
100000 to 100000 bales, will
run TO at least Is 600 900 to $4,000 900
bales.
"Heretoforc the cotton lnill activity
has been largely centered in the Caro-
linas and Georgia, these thee States
having over 4 10000 out of a total of
about 5000 900 spindles in the South.
But the movement is now spreading
farther South, and Alabama and Mis-
sissippi are beginning to take an active
part in the work. Mississippi, which
has not heretofore been classed as
much of cotton manufacturing State,
is building about a half dozen mills,
and number of others are under or
ganization while in Admission, Ala.
whore there are already two or three
mills in operation, three new mills
have been definitely decided upon for
immediate construction, and ncgotia
tions are pending for two others. In
Huntsville several very large mills arc
being built, and other towns are gong
to follow the lead of the Carolinas and
Georgia.
"The Southern cotton mills have
been exceedingly fortunate this year
in having laid in a large amount of
cotton early in the season, when prices
were low. The majority Of Southern
mills purchased good portion of the
quantity required for their years con-
sumption at an average OF $40 to S15 a
bale less than cotton is now bringing.
* '0rgc mill in Carolina, in which
S> Baltimore people are interested,
Ntyhas $4,000 bales Oh which the rise in
= price has made profit of $15 bale
or about $3.50 900 before the. cotton IS
turned into the manufactured goods.
1t is reported that the Mount Vernon
Woodperry Cotton Duck combination
is ahead iu the same way to the extent
of probably $4,000 bales bought at $40
or Sl5 bale less than present prices.
Nearly all Southern mills were fc::u-
nate enough to see ahead of anyone
else that the crop was short, and their
persistent buying of everything in
sight early in the season was the first
thing that started thc'upward market.
1t is probably safe TO say that South
ern mills will make $4,000 900 or S1O,-
100000 clear gain on the advance in
their raw cotton this season, in addl-
ton 10 the profits which they are max
ing In their regular manufacturing
business. The advance in cotton will
make the crop worth to the South pos.
sibly as.much as So 600 900 more than
the big crop of the preceding year
yielded.
"In iron and coal mining interests,
the activity and prosperity are equally
az great. Every coal mine and iron
plant in the South is pushed to its ut
most capacity at profits that make glad
the heart Of the stockholders. So
great is this activity that the chic
trouble is the scarcity of labor and the
lack Of sufficient rolling stock on the
railroads to promptly handle the busi-
ness. The demand for coal, coke and
iron, far exceeds the output, and or
ders for domestic consumption, as well
as for export, are being constantly re.
fused. The iron and mineral interests
of the South generally have now been
put on the most solid foundation, with
the prospect for the same regular divi-
dend earning power which the cotton
mill interests have enjoyed for so
many years, when net earnings of Is
per Gent. to 20 per cent, oven during
dull times, have not been unusual to
cotton mill stockholders, though divi-
dcnds have usually been made on the
basis of per cent. to 10 per cent,
and the balance added to surplus.