The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-12-15
State that Develops IFS Own Industries
baltimore Sum-

The rand increase in manufacturing
in the South is we'll shown in the sta
tistics inst made public by the Census
Bureau, stating that the Ilahuiac'uil
interests of North Carolina increased
1873 per cent. in the decade from 1851 70
1900, showing a total capltal invested Oh
SIC. sos, 1874, in 1926 establishments An
nual wages of $13,S6S are palo, ana the
materials used cost $5S 072,36S. Inc value
of products was S94919,663, an increase
of 1876 per cent. This increase is not in
one town or section, but is pretty we'll
distributed over the State. In the larg-
est town Wilmington, there areoniy ia
establishments, with total capital or
$3.50 1888. This is the one place separate
Iy enumerated. though Charlotte and
Winston. each has a larger numoer OF
factories than Wilmington, ana the value
of manufactured products in Durham and
Greensboro is much greater than IN the
city on the Cape Fear
The most notable feature OF North
Cardinals industrial growth is not shown
in the census report-that these indus
tries have been developed almost en-
tirely by natives and with home capital.
The forthcoming report OF the Commits
sioner of Labor will show that some 200
mills working cotton in some form are
in operation, and that there are more
than $50 furniture factories in the State.
These mills are, for the most part, small
establishments, and were built by capital
secured in the towns where they are
situated At Charlotte, where there are
IA cotton mills, all except one or two are
owned in the city At Gastonia, three
mills have been practically built from
the profits of one, and the same is true
of Concord, Mount Holly and Kings
Mountain. Several years ago in getting
up special statistics information was Sc
cured from nearly all the mills as to the
amount of stock owned by Northern in
vestors 1t was found that less than 7
per cent, was owned outside the State,
and that more than half the mills were
actually managed by their owners The
proportion of outside capital has since
that time materially increased by reason
of the fact that the Goulds own a large
proportion of the stock of the new mill
lion dollar mill at Gastonia, and few
other investments have been made by
New England capitalists; but the proper
ZION owned OUTSIDE the SIdIS Is SJlll very
small.
In the field of furniture making, prac-
tically all the factories were built by
local capital, and are operated under the
supervision of their owners Furniture
has been recently shipped by the train
load from High Point to Chicago, st.
Louis and Grand Rapids, which is ear
ryng Goals to Newcastle" with a VEN
geance High Point alone has So wood
working factories that turn out almost
everything made of wood, from collins to
folding beds and parlor suits. A small
factory was started by the business men
of High Point and out of this grew the
towns industry
Some of the cotton mills were built on
the installment plan, monthly pay
ments being made on the stock on some
what the same plan as a building and
loan association. In this way hundreds
of people became interested as stock
holders and the profits have remained at
home. IS
North Carolina's progress is a strtk-
ing example of how large industries may
be developed from small beginnings, and
the accumulated investment of small