The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1912-06-04
Broadening of Scope of In
duStrieS Marked
FACTORIES
RESIDENCES
Are Alike Being Erected and None
for Speculative purpo~e-t Hou~.
a Day Was Average in April-\cw
Cotton Mill.

High Point. June 1.-The M
mems amount Of building now gpln-s
on in High DIN is a matter OF 10
little comment in and out of town.
Last month averaged a house / day.
and the building is not speculati<e.
The residences are all built by the
owners Of them. which means. among
other things, a citizenship who's in
tereSts are definitely identified with
the town-a citizenship that means t,
Point.
In connection with this building
there is one interesting fact. ana
that is, there has been no factor II
more import in this development
than the towns building and loan as
sociations. There are three of These
here: The Peoples building and Loan
Association, organized in 1890. tho
High Point Perpetual. in 1900. and
the Piedmont Association. established
this year. All are members OF tho
North Carolina League of Local
Building and Loan Associations, cx-
1tpt ltiN " iiiN L lids Iti liz III
time yet to Join. These together carry
some $500 shares and represent /
subscribed stock of about 900.
Figuring upon the government census
of 10000 population, there has been
subscribed enough to equal SD. for
every man. woman and child. white
and colored, in the city.
Total Bond and Interests.
In High Point there are building
and loan assets, represented by IN
stallments and interest, amounting 10
100000. This means that $23 per
capita is the present holding in build
ing and loan assets, than which i Isl
claimed nothing on earth is superior.
If the same ratio held good for all our
States 2,206,287 population, the peo-
pie would now have invested in live
assets Of unQueStioned character.
$50. 734,6O1.
The average holding in High Point
is One-half share per capita, whereas.
in the State it is less than one-tenth
OF a share per capita. These figures
are very significant. The good these
three associations are doing is almost
incalculable. Their general motto 10:
The American Home is the Safe
guard Of American Liberty"
Cotton Mill Begins.
One Of High Points most valuable
industries has just started: her cotton
mill. At first this portion Of the
Piedmont section began to prosper by
the manufacture Of special lines, such
as shuttles, bobbins, organs, furniture
OF all kinds. silks, hosiery. bed
springs. pants, showcases, trunks
desks, collins, and baskets. but IN
proof that common, ordinary manu-
facture can be carried on here suC
~cessfully a $4,000 spindle cotton mil
suddenly looms UP on the horizon
Just outside the western Incorporate
limits Part Of the mill is already
running and the remainder Of the 46(
looms will be weaving tint cloth q
I white grade in three weeks time. The
1 president Of the organization, whicf
has a capital stock Of $c5O.000 ant
known as the Pickett Cotton Mil
: Company. is 4. l. Steele, Of Rocking
ham, with F. M. Pickett, of HigF
Point, secretary and anC
w. d. Richardson. Of this town super
intendent. The main building .
brick is one Of the most moderi
structures in cotton mill manufactuT
in the South. provided with all up-to
cate safety fire extinguishers escapes
!. and appliances. and the mill village i
! a thriving hive Of industry. with il
own fire department, stores. shop
and churches.
h New Bank a Feature.
ne North Carolina Savings Ban
and Trust Company, situated IN tn
sky-Scraper on North Main street. IA
recently been ~reOrganized with a cap
= ltal stock Of 10000 and rename
the Bank Of Commerce. The reor
ganization is simply a consolidation D
new interests which include many o
> ftlgh Points most successful bushes
men. The president is oscar F.. krarn
ana cashier II. a. Mills. The p~rosptt
= Tor the new organization, as Wei! q
Tor all High Point banks, are brlgh
e Tor with the towns marvellous In
r crease OF business. banking f4cllltl'
n are much in demand.
/ The Marsh Furniture Company
u the southeastern part Of town has r
Gently enlarged and reftted its office