The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1908-03-30


porations so l50
capital invest
ed s $50 .25s.s46 sios.S2i,sls
No. spindels 1,l3l.849 S,6ss,7g1
lBales con
sumed annu-
ally 4s5oa4 774aos
Value Of prod
uct s2s72s.91s S 75.455.Ols
/ No employees SO,2Ol 54,SS7
INN village
population si4ss l2s2ss
mo. children
employed $40 S12s
In addition to the above cotton fac.
tories already in operation. eighteen
new plants, with 94,634 spindIes and
representing an investment Of $2,746.-
900, are now in the process Of erec-
ton
There are two kinds Of capitaliza-
tion in this state" said a wise man
who knows all about the cotton bust
mess That which is reported for tax
ation. and that which is not reported
for taxation"
The assessment is based upon the
market valuation Of the stock which
everybody knows. end the consequence
is that cotton factories build addi-
tions out of their reserves which do
not apear in the capitalization and
are not represented by capital, bul
are paid out of the profits. The com
mon stock valuation of the cotton mills
Of this state aggregates 55,652, 900.
The actual money invested in those
mills Is probably twice that amount,
and fully rs per cent of it is South
Carolina capital. When the mills we're
originally built most Of the capital
came from the New England states. it
was borrowed money, or was furnished
by commission houses which desired
to handle the products, and by manu-
lfacturers OF machinery as part pay
ment for the plant Most of the ma
chinery men unloaded their stock as
soon as they could safely do so, and got
it into the market where it was picked
up by local buyers who were familiar
with the condition of the factories.
They now hold that stock ana will
continue to hold it.
"The dividends of Suoth Carolina
cotton mills will average 8 per cent,
but will vary according to the price
of raw cotton, and demand for manu-
factured goods and commercial and
financial conditions. Last year all the
mills made good profits, and, aside
from the amount reserved for sinking
funds, surplus and betterments, they
paid 5, 8, 10, and some of them 12
per cent dividends
"The majority Of the mills are not
running on full time just now on ac
count of having filed their orders.
One corporation in Columbia has bank
ed UP 100000 worth Of print cloth
frather than shut down, and many Of
them are running for the benefit of
their employees on the theory that 3
days pay a week is better than none.
The present slump however, is not ex-
pected to continue very much longer.
Although the activity of 1907, which
was unprecedented, will not be re-
sumed in full until after the presiden.
tial election. don't see why the de-
mand for cotton goods, which every
man, woman and child wears. and
must wear, should be effected by the
presidential campaign, but it is never
the less the case If you will lool
through the record Of the cotton indus
try for the last half century, you viii
see that the market for cotton good:
has always been more or less effected
by political influences, and that the
demand for such goods always falls of
in presidential election year.
"The South Carolina mills use Il.
much home cotton as possible on ac
count of the saving in freight and otli
er charges, but the fibre raised in thii
state is not suitable for the finer lab
RIGS to which the mills are giving NOR,
and more attention They use verl
little sea island cotton, which is raiset
on the coast of this state and Georgia
II Is the best quality produced any
where. Egyptian cotton IS too axpeLl
sive for the kinds of goods produced
Hence they use all the local cottof
they can and mix il with Alabama anc
Mississippi cotton
Last year the mill of South Carolln.
consumed 72 per cent. Of the cotton o.
the state, but It wes unusually small
The year before they used 81 per ceni
when the crop was large. and that +
about the average"
A great many mills in the state arr
now piling up what is known as prin
I IL