Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-01-02
HUGE DIVIDEND DECLARED
BY q COTTON MILLS
Factories Pay SG,O5S.-
600 and So. 1874 .OID.J0 in Cash
9s on SS,DOS,9OO Capital.
ALL ARE RUNNING FULL TIME
No Curtnilmcnt of Output Sine.
Dcfiation of priCcs-Dcmand for
Goods Increasing. and Business
- Outlook Tor 1921 Bright.
tBy Associntod i'rcssl

: SPARTANBCRG. :. c.. Jan. L.
Twenty one cotton mills in Spartan
burg County. having a total capital
stock or Ss,9OS.aoo OH January last.
have paid dividends amounting TO
$G.05S,ooo. and cash dividends
amounting to S2.ls4,Qi?.50. during tho
year ending today. according to fig
ures compiled by y. NJ. Law X Co.
for the Spartdnhurs Journal.
Included in the cash dividends Is
tho sum OF SS3S.lTv being paid in
seUIiannual dividends today. bat tho
totals do not include dividends paid
during the year by mills in adjacent
counties, the homogeneous OF which
are located here. The combined stock
and cash dividends paid by tho mills
OF the county during the year lack
hut SS50,?0p OF rqUailinS the COM
b!ncd capitalization OF the mills at
the beginning OF the year
the most part PROFITS accumulated
during the era OF nigh prices pre-
Nailing Since 1915. but which We're
not distributed until after the United
States Supreme Court declared early
last summer that stock dividends
Were not taxable. All the mills. 1T
is said have Sood surplus accounts
left after paying their dividends.
Since the dot!atiou of prices began
several months ago there mas been
little curtailmcDt of output 10y the
mills OF this county. All arc run
ming on practically tull time now ana
expect to continue doing so There
has been reduction i'll wages aver
aging 20 per cent.
The min men report more inquiries
for goods during tho past wocl, than
for some time previously. and say
they nrc expecting q urisiS demand
little later on. several substantial
orders have been filled during the
past ten days.
one mill this week sold nfty cases
OF goods at a net loss ct SI.60 per
case. The cloth. however. WAS made
and under the wage scale then pre-
vailinS. The same goods, HaHutaC-
tured now from present priced raw
cotton and with the present vase
scale. would SHOW ~ substantial
profit. Local mill mon. without .oN-
.ccption. say they look Tor satIsfac-
tory business during tho year.
The list OF mills in the county pay
ipg dividends and the amounts IN
Clifton manufacturing COMPANY
stock. Sl.oo0,000: cash S2So,0Go
u. T.. Converse Co. stock, S5oe,o00;
Imam Mills. stock, 100000; cash
Tocole, Manufacturing Company
stock, S5o.o;,009,o cash, Siga,lS5.
spartan Mills, stock, 100000.
cash. Sl20,0o0
w s Gray Cotton Mills, stock.
$4,000: cash. slS.l00.
other concerns paid cash dividends
ranging from sl.IjO TO Sl74,O0O.
NEW BEDFORD. MASS, Jan. l.
Cash dividends distributed in the
ANAL quarter hy twcutN-Scycn cotton
mill corporations OF this CitE amount
81 20 Si.5&2.035. ian average OF -.
per cont. The total disbursement FOR
tho year was Ss.6TN.iG5. representing
]s.i2 per cent on an invested capital
stock OF E5G.S22.00o, In addition to
the cash dividends. the Nouuuict
made Il stoci, dividend @! 100 per
cent, and the Nnnomet distributed a
stock dividend OF % % Per cent rep
rcscntiug 100000 in cash each.