The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1903-06-23
COTTON SPINNING MILL
FOR GUTHRIE.
Would be an Important Enterprise "
Local Aen viii Take Interest

@A|NAANAAA|
facts that good results would accrue
to Guthrie with a well equipped cotton
spinning mill located here. He cites
as an example the benefits which Car
thage, Mo. expects to derive on the
recent location Of a mill at that point
and some proceedings on the part OF
our business men and others will no
doubt get some results. as the city
has everything necessary for plant
Of this kind 'An invitation. sent
through tho commercial organization
to parties TO visit Guthrie and look
over the ground and confer with the
club would be the first step to take,
said Commissioner Hopkins today I'VE
are now working on these lines, having
written TO Mr.. witten Mcdonald cf
Kansas City, with reference to co..
ton mill for Guthrie, who is considered
authority on such matters. Mr.. McDon-
aid went before the Carthage club AMI
began talking cotton spinning and
startled his hearers not only with his
facts and figures on cotton spinning,
but with his apparent intricate knowl-
edge Of conditions Of Carthage At
the meeting he was asked to frame a
proposition but instead of doing so
he said, Il have stated the facts If
you find my statements true, do you
want 10 build cotton miIl?" The
answer was in the affirmative. At the
suggestion of Mr. Mcdonald twenty
Carthage men formed themselves into
an association aud Investigated IN their
own Nay Tho cotton mill industry, and
claims In regal to tbs sane These
twenty men comprised the leading bus
iness and financial mon Of the city
who appointed a committee Of three
70 be sent througi the sonth who made
a thorough Investigation of the cotton
mill industry their report being more
favorable THAI the representation that
had been made Local capitalists are
enthusiastic and taking hold of II in
q way that iDsures success.
"To illustrate the faith the citizens
had In the enterprise following is an
cztract from letter written by Mr.. e
b. Jacobs. cashier of the First Ma
tional bank to Mr.. Mcdonald I list
oned very carefully to your initial
statements setting forth the advant-
ages and profits of cotton mill not
0nly TO the people who invested in ITS
stock, but also the community in gen
eral Was sufficiently interested TO
follow up the statements carefully AM
found the conditions verified eve-y
statement.
Another important feature disclosed
in tho report OF the committee was
the communities where these mills
were located were uniformally prosper
ous and none of the mill stock was for
sale. and many mills earning from 2S
to 80 per cent. on the investment.
Another important feature Is where
mills are located they have increased
their population double or more. in
few years following the construction
of the plant and from increase Of pop
ulation follows advantages and bene
fts. incidental to such extensive
growth. he concludes by saying hav-
ing been convinced almost against his
will upon the points involved he no
longer hesitates to subscribe for stock
towards construction of a cotton mill.
but cheerfully recommends the same
TO his friends as safe and profitable
investment"
The commissioner Office Is on the
lookout for plants OF this kind for
Guthrie. and the citizens should en-.
courage all possible and invest In
stock Of cotton spinning mill with
a manufacturing plant including one
building Of size to accommodate TO-,
600 spindles and 249 looms with the
necessary opening intermediate and
finishing machinery for making plain
sheetiDgs and drills suited to the gem
eral needs Of the southwestern mar
kets would be an incalculable benefit
to our wonderful and rapid growing
city. the promise Of large profits from
the exceptionally favorable conditions
OF product it would be advantageous
Tor Guthrie to raise necessary funds
for construction and operation of such
a plant for example issae Of 100000
OF seven per cent cumulative prefer
red stock a. par. redeemable after Ave
years at 1902 realizing 100000; and
100000 of common stock at S25 90
per share realizing 100000 which VIII
be ample for the completion OF a thor
oughly first class mill OF 10000 spin.
dies. planned 70 be enlarged 20 i0o.oM
splndles and sufficient working capt
tai 20 handle the business Il can be
proposed 10 accept subscriptions only