Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1910-03-18
THE YORK COTTON MILL.

AS the public has noted from the
official publication in The Enquirer, it
| is the purpose Of the York Cotton Mills
company to increase its capital stock
from $150,000 to 100000, provided the
stockholders at meeting to be held on
April 20, for the purpose Of consider
ing the matter, express their willing
ness.
The purpose of this step as explain
ed in the published notice, is to retire
the outstanding bonded indebtedness of
the company, and purchase new and
additional machinery that will ensure
greater variety and greater volume
of the output.
While no one who is authorized to
speak for the mill has volunteered any
information, we desire to take the lib
erty of making a few remarks, which
are based on what we believe to be a
correct comprehension of tine situation,
and which, we think may be of more
or less value to the public.
AS is pretty generally understood, the
York Cotton Mills has had it's ups and
downs, and its misfortuneS. 1t is not
necessary to go into these at this time.
On the contrary, it is sufficient to say
that it's management for a number of
years past has been most creditable
and efficient, as well as highly success
full.
During two or three years of the
present management when business
conditions were fairly good, the opera
tions showed a profit which was suffi-
cient to materially reduce the past ac-
cumulated Indebtedness, and was used
for that purpose. Although 1t has been
able to make but little profit during the
past three years Of depression in the
yarn market it is a fact that it has
done much better than many other
mills that are engaged on the same line
of products.
Although the present capital stock of
the York Cotton Mills is $150,O0O, it
Is pretty generally conceded by all VINO
know anything about the matter, that
the actual value of the property is
closer to 100000, and one of the most
serious drawbacks for some time past,
has been the fact that a considerable
proportion of this capital has been un-
productive, solely for the need of the
expenditure Of a comparatively small
sum to make it profitably available.
AS to exactly what the management
proposes to do with the additional cap
ital, beyond what Is stated in the pub
lished notice, we nave not been advis-
ed but understand that one idea that
is being considered is the putting in
of q number of looms 50 as to put the
plant in a position to catch the manu-
factured goods market, both coming
and going. 1t frequently happens that
when yarn is up cloth is down and vice
versa Well managed mills that are
able to both spin and weave, are less
those mills that devote themselves en-
tirely to a single product.
OF the ability of the stockholders of
the York mills to carry out their pro-
posed increase Of capital stock along
the line indicated, there need be no
question. 1t is quite possible that some
of the stock will be offered to the pub
lie, if the public wants to buy, but |
whether outside capital goes into the |
enterprise or not, the proposed under
taking will be accomplished without |
difficulty. That may safely be taken |
as having been settled before the isSu-
ance of the notice.
with the capital of the York Cotton
Mills doubled, and the contemplated |
changes perfected, it is safe To say that
this we'll established industrial enter
prise will begin to cut a new figure in
the life of the community for which it
has already done so much. !