The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-03-26

a type Of twenty mill towns that have
sprung uu down mere since 1880.
III you want to read the figures that
show the growth OF the cotton indus
ltry ~ South Carolina during the last
seven years. here they are.
Number cor
poratons so $50
ed .... s3a25S.9l6 $i08S2lgia
lNo smndies i4sl,Sio 5G6S.f6i
BALES con
ally - 4s5o2t 77i.sos
uet -. 2o72agi9 S 75,a55,oia
No employees. SO,20l o4iSSi
lMili village
/ population 6l,46S l26,2SS
NO children
employed Sll0 SILL
Ia addition to the above cotton fac
tories already in operation, eighteen
lnew Giants. with 94.634 spindles and
representing an Investment of $2,7i6.-
loco, are now IN process of erection.
"There are two kinds of capitaliza-
Iticn in this state" said a wise maa
who knows all about the cotton busi-
mess. "That which is reported for
taxation and that which is rot report
ed for taxation The asses sment is
based on the market value of the
stock. which is known 90 everybody,
and in consequence thereof cotton
mills build additions out Of their re-
serves which do not appear In the cap
litaiization and are not represented by
the capital. but are paid out OF the
profits The common stock of the cot
ton mills of this state, face value, az
gregate S55,652 920, The actual money
Invested In those mills Is probably
twice that amount. and fully ~ per
cent OF Il Is South Carolina capital.
When lhe mills were originally built
most OF the capital came from the
New England states Il was borrow
led or was furnished by commission
houses which desired to handle the
lproducts. and by manufacturers of ma
chinery who accepted stock as part
lDayment for the plant Most of the
machinery men unloadcd their stock
las soon as they could safely do so,
land II got into the market, where Il
was pitked up by local buyers who are
familiar with the condition of the fac
tories. They now hold that stock and
lwill continue 10 do so.
"The dividends of the South Caro-.
liza cotton mills viii average s per
cent. but viii vary according to the
price OF raw cotton. the demand Tor
the manufactured goods and CONNER
loial and financial conditions. Last
year an the mills made good profits
.and. aside from the amount reserved
for sinking funds, surplus and better
lmeuts. they paid 8, S, 10 and some OF
) them ~ per cent
'The majority of the mills are not
running on full time just now, on ac'
count Of having filled their orders
lOne corporation having plant In Co
umbia has banked up S60OOO0 of print
cloth rather than shut down. and
, many OF them are running for the
benefit of their employees on the the
lOry that three days pay is better than
/ none The present slump, however, Is
! not expected to continue very much
! longer, although the activity OF 1907
, which whs unprecedented, viii not be
Ireaumed IN fun until after the presi
, dental election. don't see why q
presidential campaign Should affect
/ the demand for cotton goods, which
every man. woman and child wears
and must wear but il is nevertheless
, Ike case Ii you viii look through the
recUid OF the last half century you
, viii see that the market for cotton
| goods IS always more on less subject
20 political Influences and that the
volume OF business invariably fails of
in presidential year.
"The South Carolina mills use az
much home cotton as possible on ac
count of the saving ina freight and 9th
er charges. but the fiber raised in thi,
state is not suitable for the finei
grades ol fabrics 10 which the mills
ARE giving more and more attention
They use very little sea island cot
ton, which is raised on the coast 0
this state and Georgia, and Is the besi
quality produced anywhere Egyptian
cotton is too expensive for the kinds
of goods produced. Hence they use
/ All the local cotton they can and mia
il with long staple, bought IN Ala
bama and Mississippi
Last year the mills 0f South Caro-
Lima consumed ~ per cent of the cot
(ton crop of this state. bat il was un
usually small The year before thcs
lsei 81 per cent, when the crop was
large. aud lhat Is about the average,
A great many Of the mills ia this
state are now piling up what ar.
snown as print cloths They are I
slandafd grade and quick sellers, be-
Ing plain goods, which are put upor
he market without brand or anything
Use 10 Identify them, and IN ihat wa,
command the readiest sale and th,
quickest returns They are practical
81 the bread and butter OF the coitol
trade, and are used by tho print mills
10 make calic0es and other glasses o
cheap dress goods as distinguished
from sheeiings and shirtings. al
ihoush there Is no Immediate demand
most oi the mills are now running Oh
thai class OF goods three days IN IA,
week because they know there viii D,
can for them sooner or later aus
they can borrow money on them al
tAe banks II necessary. This Is mucl
bellef than shutiipe down. which al