The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1902-10-21
SOUTHERN COTTON MILLS.
Concluded From Page ~


until an entire column IN the News
was filled But these are enough to
show how stock spectators regard In
vostments in Southern cotton mills
and how ,aey make their money do
she talking
The figures showing the premiums
offered for stock in cotton mills has
been used for a purpose. lt is almost
needless. however. to say. II stock
commands large premium. II pays
"A large dividend. and that the prcmi-
am offered indicates how much diyi-
lcnd is either declared annually or
quarterly as the custom Of the com
pany may be- Take for instance, a
well secured promissory note for 800. |
If It bears per cent interest the le-
"a! rate. Il IS worth no more than its
face value r. however, it bears
twelve per cent it would be worth
something more. Stock in cotton
mills Is very much like promissory
notes. the returns on which are term
ed dividends instead Of interest. Take
one share of the value Of 500 en- q
cotton mill. if IL commands a premi-
am of 100 per cent as Is the case with
stock in Tho mills of the Pacolet Man
ufacturing Co of South Carolina. then
the dividends unterosD must bevory
large. This. however. Is by no means
all; IL the par value OF the share IS
500 then tho holder has made 500
aud has 5000 worth of good property
instead OF SlOO just as real estate
specuator would nave 5000 instead OF
800, If he should invest 500 in a
town lot and the lot advanced in value
40 5000.
The South. therefore. standing on
she record and speaking from the rec
ord. can confidently announce to the
worlds idle money that It offers by
practical test the most practical fields
Tor investments in cotton manufactures
TO be found between the oceans
AS maryelously prosperous as these
figures show cotton mills in the South
ern states to be Qor no others have
been referred to) it must not be for
gotten that this success has been
achieved while using coal as a fuel.
worth from $3.50 to $3.50 per ton and
that the item of fuel Is one of the
largest in the expense account of all
factories Now that Texas can supply
90 g,,. I,,,N
cent. cheaper there Is no reason why
every enterprise in the South should
not exceed the most prosperous year
1t has ever known and earn larger div
idends for its stockholders than any
ever declared In previous times.
II will be noticed that only the ben
eiits and good accruing to the individ
ual investing his time and money In
cotton mills in the South has beer
noticed.
Speaking In a general sense there E.
a much broader view to take OF tho
subject Cotton mills are good insti
tutions il only the individual investor
is benefited They are far better In
stitutions If others in the community
where they are established are bene
nted alsp. and the public wealth in
creased
Pursuing the study of the subjec
reveals the wholesome truth that, II
the Carolinas, Georgia, Alabama, Ten
nessee land worth IS to $40 per acr,
before the mills were located sold AT
terward for Sl5 to 500: where II wa,
worth SIS to 500 It found ready pur
rchasers at price advanced to $50 o
sac and not infreQuently $50 or s6l
per atre after the mills were supplied
with labor and In operation
The land became more valuable be
cause of the increase in the numbe
of non-producers and could be devot
ed to more profitable crops to suppl!
the mill operatives with vegetables
fruits, etc.
To hurriedly sum up the situation
ihe establishmet of cotton mills in
community seems 20 diffuse its bene
fits among all classes of people.
/. The capitalist is benefited, be
cause he receives good interest OF
his money
.. The community generally is bene
htted because the market for every
thing produced on farm is improve,
and in some cases actually created.
B. The government is benefited be
cause the public wealth is increased
4, The property owner is benefte,
because there is a demand for hi
houses by class of people with stead,
employment who can promptly pa.
rent