The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-09-30

c. one of the largest cotton dealers ana
most successful men in the State, says:
"He is satisfied from his knowledge and
from information obtained from various
sources that the year, beginning October
1st, 1900, was a very Improbable one in
the cotton mill business. Many of the
best mills in the State lost money, and
few were at all satisfied with the result
of that years business
Mr.. William Entwistle, of the Pee Dee
Mills, a most successful mill man, says:
THAT he is convinced that the year, be-
ginning October 1st, 1900, and ending on
the same day, 1901, was one of the least
profitable years ever experienced by the
cotton mills in North Carolina
Mr.. ]. P. Wilson, of Charlotte, sue
cessful manufacturer, says: HAS no
hesitation in saying that the last year
has been the worst, most disastrous to
such business he has ever known"
Mr.. e. B. Neave. the we'll known and
successful officer of the Vance Cotton
Mills, Salisbury, says: Has no hesita-
been the worst. most disastrous, to such
business he has ever known
Mr.. Geo. B. Hiss, the Republican cam
didate for Congress in the Ninth District,
says: THAT he resides in Charlotte,
county of Mecklenburg, and State of
North Carolina; that he, from observa-
ton and information obtained from the
cotton manufacturers in this State, has
no hesitation in saying that the last year
has been the worst, most disastrous to
such business, he has known in recent
years, but he believes an Improvement in
the business has now begun. That he has
no interest whatever in the matters in
controversy
Mr.. Moses H. Cone, one Of the most
prominent cotton mill men in the South,
man who has been very successful in
all of his undertakings, says: From
information obtained from the cotton
manufacturers in this State, has no hest
tation in saying that, in some lines Of
manufactured cotton goods, the last year
has been the worst, most disastrous, to
such business he has ever known"
Col. James H. Holt, a very prominent
and successful mill owner in Alamance
county and in National politics, we be-
lieve, inclined towards the Republican
party, says: From his own personal
observation as a mill manager, and from
statements received from mills in which
he is interested, either directly or in
directly. does not hesitate to say that
the year 1901 was an annually disastrous
year for the cotton milling interests"
Mr.. E. C. Holt, of Wilmington, large
mill owner and managing officer of the
great Delgado Mills, recently built at
Wilmington, says: That he is familiar
with the cotton mill business and is
satisfied that the year, beginning October
1st, 1900 was one of the most disastrous
in the history of the cotton mill bust
ness"
Affidavits to the same effect were filed
by Messrs. A. w. Haywood. J. A. David
son, d. w. Oates, j. S. Spencer, VIM. l.
Holt. DR.. F. J. Murdoch, J. B. Sheriff.,
]. L. Scott. F. L. Robins. W. c. Leak,
]. P. Leak, r. c. Leak, B. S. Jerman, VIM.
Wallace, T. d. Miller. a. X. Smith, w.
w. Vass and other prominent and sue
cessful mill owners.
These affidavits related to conditions
last January. We regret to see that ap-
parently those conditions have gotten no
better The following is the market let
ter sent out from Charlotte, n. c., the
center of the Southern mill business, on
Saturday, September 9th. 1t speaks for
itself. Dr. J. H. McAden is one of the
largest. most successful and prominent
mill owners in the South, and his state
ment of the present condition of the cot
ton spinning business is distressing: "One
of the most carefully prepared estimates
of the costs to the manufacturer of cot
ton yarns is shown here today, and the
result is most discouraging to the spin
ner This table, taking 10000 spindle
mill as a basis for the calculation, and
taking into account every expense, shows
that the monthly profits of such mill
amounts to only $22S, and this much bet
ter than could be said a few weeks ago.
DR.. j. H. McAden, ex-President of the
Southern Cotton Spinner's Association,
says today that the mills cannot afford
to shut down as their loss would only
be increased by such a course, and the
only thing they can do is to keep running,
even at loss. DR.. McAden sees nothing
definite in view that promises relief to
the situation
This is what the people say. This is
what the men who have made North
Carolina cotton milling what it is say.
Instead of great prosperity, there is
period of depression which has impressed
them with misgivings and alarm. So