People's Pilot, Volume 3, Number 28, Rensselaer, Jasper County, 29 December 1893 — GOOD FOR THE SOUTH. [ARTICLE]

GOOD FOR THE SOUTH.

All Large Factories Have Made Money and Paid Dividends. Augusta, Ga., Dec. 27. —The Chronicle says editorially: "In a year of unexampled depression, in cotton manufacturing in the eastern states the mills ot Georgia and South Carolina have been running on full time. With climate advantages, cheap water power and raw material at first cost all large factories have made money and paid dividends. Mills in and around Augusta have made a splendid showing for the year iust closed ‘‘The Augusta factory, capital $600,000;. paid 6 per cent, dividends; Enterprise Manufacturing company, capita $1750,000. 6 per cent.; Sibley Manufacturing company, $1,000,000 capital. 6per cent.;. King Manufacturing company, $1,000,000 capital, b per cent.; Graniteviile Manufactur i ing company, 600 capacity, 10 per cent. The | Langley Manufacturing company increased | its capital during the year from i 400,000 to SGOO,I 000 and will pay a semi-annual dividend of 3 per I cent on increased capital, The dividends of I these mills show that the south is the moat in- | vi ting field for cotton goods, and indications j are that in the near future factorieswill be ; started in this section. “In 1880 the south consumed 200,000 bales of cotton. In 1893 southern mills consumed. 600,000. bales There could be no stronger evidence of the south’s superiority over the north-in, its advantages for cotton manufacturing than during. the past year. | “Northern mills have been shut down while j mills, in the south have been running on. full j; time and have paid good dividends.”