Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1911-04-12
THE HETRICK HOSIERY MILLS.
of Commerce Puts PROPOSE
ton Before Spartanburg Citizens.
lSpartanburg Journal, 7th.)

(Spartanburg Journal, 7th.)
The Chamber CT Commerce will to-
morrow go before the people Of Spar
tanburg with a definite proposition
regarding the establishment here of
a branch Of the Hetrick Hosiery
Mills, of Walhalla.
The proposition made to the city
Of Spartanburg by Col. Jaynes, the
head Of the company at Walhalla, Is
thought by the Chamber of Com
merce committee to be as liberal as
could be desired, and the committee
is recommending it most earnestly to
the consideration Of the citizens Of
Spartanburg.
Couldn't Get Labor.
Because OF their inability to secure
the necessary labor the owners Of
the Walhalla plant have been forced
to e elsewhere for a location for
the installation Of that part Of their
machinery which has been lying idle.
Their plan was at first to establish
at Spartanburg only a small plant,
where they could get labor for knit
ting, the idea being to do the finish
Ing and dyeing at Walhalla. They
have been so much pleased with the
outlook at S%partanburg, however,
that they now propose to buy new
machinery In addition to what they
have. put in a modern dyeing plant
and equip a complete knitting mill in
S~partanburg.
Asked to Buy Stock.
The capital stock Of the present Or
ganization Is $33, 900. 1t is proposed
less than 100000, Of which $4,000
will be of 7 per cent preferred stock
and 100000 common stock. Spar
tanburg Is asked only to subscribe
for $4,000 Of the preferred stock.
proposition made to the gentle
men from Walhalla was to the effect
that S~partanburg would endeavor to
make this subscription and also to
give the new organization the use Of
the Russell Machine Works plant at
a rental basis Of 6 per cent upon an
option price Of $4,000, the Hetrick
Company to pay the taxes, repairs,
etc. An option upon the Russell
property for a period of ten years for
the sum Of $4,000 Is to be given.
1t will be remembered that this
properly was recently bought by II.
b. Carlisle, who has agreed to turn
1t over for this purpose at the above
price.
The plan Of the Chamber of Com
merce committee Is hat a holding
company be organized for the pur-
pose OF purchasing the Russell prop
ert: and leasing 1t to the Hetrick
Mill Company on the above basis.
subscriptions to this holding COM
pany and to the preferred stock OF
the mill company in the amount Of
$4,000 will be asked Of the Spartan
burg people at once. 1t is empha-
sized hat of the $40 900 preferred
stock Spartanburg is only asked to
this small proportion. All
the money received from the sale OF
stock will be put into the plant. The
preferred stock will thus have be-
hind it assets to the amount of at
least 100000.
Committee Enthusiastic.
The committee which met with Col.
Jaynes and the Messrs. Hetrick yes
terday is composed OF J. w. Alexan-
der, John B. Cleveland, Fl. b. Car
Isle, w r.. Burnett and II. e. Rave
mel. These gentlemen are enthusi-
aStic over the proposition and will
DO ali IN their power to secure the
enterprise for Spartanburg. Col.
JayneS outlined a proposition to-day
received from another city, which
was even more favorable than the
II received from Spartanburg, but
for various reasons he preferred to
come here If the necessary
ments could be made. The mill will
have a capacity Of from 400 to 600
dozens of the very highest grade
hosiery, for which a market has
been assured at stable prices. 1t will
employ from $50 to 200 people at
wages from Sc to $l2 per week. The
committee in charge of the PROPOSE
ton Is composed Of very busy men,
INT they would appreciate a quick
response.