The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1905-05-03
The Cotton Mill.

The proposition to build q new cotton mil
Il AbbevIlle Is received with some favor,
even II 1t does not receive much money. II
our people SO will 1t, they can easily enough
find young men Of good business qualinca-
the younger men an opportunity they will
make a success OF a new cotton mill. The
old mill is 10Y prospecting. and 1t is certain a
new mill would profit By the experience in
the construction OF the first mill.
The first mill, which is\a three-quarters OF
million dollar enterprise, gave its first con.
tract for a house costing $4,000 when Less b
hat amount had been subscribed.
In all, our people put in 100000. Northern
machinery men put In 100000, or seven times
as much as we did. After the mill was start.
ed the Northern men bought a large per cent.
OF our own stock.
This editor has subscribed for, or taken
stock, in every enterprise that has been start
ed here in twenty years. Our rule is 10 sell
the stock. Al an Investment we do not care
for it, n when We sell 1t we are In position
to take stock in the next enterprise. We are
now ready to take stock In a new cotton mill,
and then when somebody comes along that
wants 1t. we, will sell 1t at a reasonable dis
count or at a fair profit as the circumstances
may warrant.
Sometimes we make something and some
times we lose on our stock. We made q big
cash subscription and traded any old thing
that we bad On hand for cotton mill
stock, and when we were ready we sold out
at an average OF Sc cents on the dollar. The
~,ea. - @ha rrt~ ~ hoI-r porhorc O fhN1e-
and dollars. The warehouse stock brought
sl2O. so a share, or a profit Of $3.50. The furni-
stock was bought at a discount, and was sold
at $50 q share. The hotel stock was sold at
SIS q share, Some of the Farmers Bank stock
was exchanged for school bonds, which were
afterwards worth Sis. and for which We
would pay that prloe now. The other shares
were sold at about par. The National Bank
stock was subscribed, but not having the
ready cash to put into 1t, we allowed another
to have it. The subscription, however. count
ed in establishing the bank. We subscribed
several hundred dollars to the bnilding OF
the oil mill, but larger capitalists got together
and conducted not to be bot cred with little
subscriptions. Like good fishermen, they
threw the minnows back. We have q few
shares in the Peoples bank, which was recent
" established, and this is all the stock that
we have.
1t will be seen that we have helped every
enterprise, and that our speculation In the
stock has made good dividends. We have
lost not near as much as we would have been
glad 10 give for the establishment OF tho en-
terprises. We would be willing to give sever
al hundred dollars to have another mill
built in Abbeville or We will take a much
larger amout In stook and you can stake
your bottom dollar that we will come out on
top. II we don't make IL one way we will
another. II we don't get early dividends
our real estate will be benefited, and 30 q
reasonable subscription is a safe Investment.
II they do establish q new mill here, and
there is no reason why q new one should not
be had, see If we do. not sell the stock to the
first man that may want 1t.
II Abbsville can raise $4,000 we can build
q splendid mill hsuse. And a good mill house
is as certain to catch machinery as a goard
on q pole is to catch q martin. The manufac-
ture of cotton has been reduced to a science,
and, barring mistakes in speculation, the
cotton mills are bound TO pay good dividends
other mills pay dividends and ours can do
the same. And q cotton mill costs the PEG.
pie less thar any other substantial benefit.
II we furnish twenty per cent. others will do
the rest aud then we can sell our stock. By
this method we can get a cotton mill with al
most no cost at all.