The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1905-10-04
COTTON MILL FAILURES,

speculation In Cotton or ClOth Ne"'
Always the Cause-Superinteh"'
Cannot Make Good the Losses op
the Markets-The Manufacture Oh
Cotton the Safest and Best iho"s
trial Enterprise.
The News and Courier has awell.consioei;
ed article on the causes Of cotton mill
failures, the only objection to which 10 ~.
erroneous deductions from an erfoneoDS
assumption Of facts.
INE1PERIENcE NOT THE CAUSE OF FAlh0N'''
The News and Courier's idea that ineApe,i
ence ofthe presidents and treasurers ia ".
manufacture of cotton goods is the cause "
1a1lnres In the business Is as far fro" isA'
as The east is from the west
REDUCED TO A SCIENCE.
The manufacture of cotton goods has Deon
reduced to a science, and there has nese, ~,
occurred one failure because OF ia'>
kno"ledgeto spind and toweavs. u,
mere are, perhaps, nine processes int a..
which the raw cotton goes before IL 10 !. ,,,,h
hnlshed cloth. The thoroughness
which the business is understooo my -,
Inferred from tho fact that the exact coss y.
each process is known and noted oS e''''
mill.
The president and treasurer may MOI NV"
the machines or the methods Of tneir opota
tions. 1t 10 not his especial business 10 AnC"
these things, but he can judge OF the 1epo'''
LEGITIMATE SUCCESS.
The success or the failure Of cotton MI
in its legitimate business rests WIN 'n@
q q. In oirf hof the RuD9rluLoAo
ent may assume or that he may DO e4P'o'o.
TO make good the mistakes and the pluno'''
OF the president and treasurer.
The daily and weekly reports OF tho pi0s
ress III the different processes are clear an'
specific. II the superintendent 10 Wasting
the.money OF the company the fact must De
known in the Office every night. The cheoks
and balances are such that there can Do nc
oonoeaments.
NO NEAR CUTS TO SUCCESS.
There are no near cuts to the manufacture
OF cotton goods. The actual cost OF convert
ing the raw cotton into cloth Is as n1eo a
anything can be-. There Is little or no huotu
alton in the cost Of labor in the manufacture
OF cloth. While in different mills, with dif
ferent machinery, there may be slight diner
ence in the cost and the Hample OF goods, ye
the difference cannot be so great as u
bring either notable succeas or disastron
results.
We have no knowledge Of any supsrintend
ent who has ever ruined mill.
WHERE THE MILL Is MADE Oh RUINED.
The president and treasurer in his ONO
makes or ruins . mill. And the process o
running o mill is not found in the nanufao
ture Of goods, bnt 1t 10 in the speculation
where mistakes may occur, and wher
misfortune may come.
HOW MILL Is RUINED.
Tho destruction Of q mill is based almos
wholly upon two causes, namely: Tn
fluctuations in the price of cloth and tn
price OF cotton.
A mill president is necessarily more or les
speculstor, and q mill president knows NJ
more about the future price OF cotton ant
cloth than the man In the moon 10 supposed
TO know. He certainly knows nothing.
When prices change so quickly, and Wher
fortunes are made and lost In . day, the dis
position 10 gamble 10 sometimes too great u
be resisted by men Of sanguine tempera
ment.
GAMBLING USUALLY FATAL.
1t is the gambling or the speculation in ra"
cotton or the manufactured cloth that bring
disastrous results.
Ifa mill buys large quantities Of cotton ane
the price goes down the result Is lneVltaole.
1.-THE mill holds its cloth for higher price,
and borrows money, the mill Is bound u
suffer when the price soes down or iflt ever
remains stationary.
the price OF cotton goes up and the prize
Of cloth does not rise the mill cannot escap'
loss. 49,
According to our own notion, the mill
ought not to hold their cloth for higher prices
but should sell the goods as fast as they ar
manufactured.
The mills should not buy more cotton thai
they need.
COTTON MILLS THE SAFEST AND BEST IN
DUsTRIAL ENTKRfRIsEs.
II the mills are freed from unnecessar!
speculation the danger is not great. VIII
careful or judicious buying OF cotton and tn
prompt sales OF cloth, the cotton mill busi
ness ia one OF the suiest and most stable OF al
manufactures. There is always demand
for tho manufactured product
The Immense development Of the cotto1
industry within the last lew years may haV'
tc some extent disturbed values. but for al
that the cotton mill business Is the businea
OF the South.
BEST REDUCTION OF ACREAGE.
Any Idea that the increase OF the spindle
and the addition OF looms initiate sgains
the farmer, is as baseless as the fabric OF
dream.
The mills Of this state have taken grea
numbers of cotton growers from the Held
To that extent they have reduced the acre
egs," and increased the consumption of cot
ton.
AT THE DEMAND OF NORTHERN INVESTORS
The News and Courier Is in error In sup
porting that the combination OF president
and treasurer In one person ID peculiarly
Southern idea. The combination OF the two
offices was at the demand or request o.
Northern investors in Southern cotton mil
stock.
no CONFLICT OF INTEREST.
The News and Courier IL again in error IN
supposi ng that II ia a mistake for one man te
be presiden; OF more than one mill. The ten
dency Is TO put more mills into the hands o. 6
safe and successful man. Fidelity 10 each II
not affected by the number OF the mills thai
the president and treasurerer may control.
WHERE DIRECTION ORIGINATES.