jjSm?mii?mr--------^^^-^."j^-in^^-rr-,----------. " --- ? tv.mim B35S jiXSm ? I " "--.?y-? ? *"? ? SSWfeSSSBjBMSSjHttwSiS , TO THINE OWN SELF BE^ TRUE, AND IT MUST FOI.L?W AS THE ^ ^ NIGHT THE DAY, THOU CANS'T NOT THEN BE FALSE T? ANY MAN BY KEITH. SMITH & CO. WALHALLA. SOUTH CAROLINA. THURSDAY. APRIL 8. 1880. V0L?IIY1K XXXI -_tttVTT J From tbe Charleston News and Courier.] COTTON MILLS IN CARO LINA. Theil* Nu inlier, Production and Profits? . A Steady Increase in the Value of Their ^Capital-The Annual Profits Ranging 'from 18 to 50 per cent.- Thc Advan tages Over Northern Mills-Ten Thou sand Persons Employed, or Supported -An Almost Unlimited Field for thc litt?ral ive Employment of Home and Foreign Capital. Tho public oi'O aware that during tho last, ten years considerable progress hos been made in the development ol' tho man ufacturing interests in South Carolina, especially in tho manufacturing of cotton goods. But few persona* have any just idea of tho magnitude of the work which 'has been done, or what is moro important, of tho number of pcrsous engaged io it, tho . amount of raw material consumed, and thc profit made by those engaged in tho busi ?ness. Attempts have boen modo ot different times to show tho extent of thc cotton 'manufactures iu South Carolina, but until to-day no thorough and complete statement 'upon that subject has been given to thc .public. With this will bo found a summary of tl??ti 'condition of each und every cotton mill iu South Caroliuu, showing its capacity, ?consumption of raw material, production, cla-33 ol' goods manufactured, wuter-powcr 'used; tho number of persons employed, and tho number of thoso dependent upon thom; tho wages paid and tho rates of profit, forming as to each mill a plain and at tho same limo complete exhibit of its condition and operations. The information now given was obtained within tho lat?fc fortnight by a visit to tho ?different foctories in tho State, made hy .M-p. J. K. J3lackinnu, of thc Arews ana 'Gourier stnff, who has endeavored to give similar information with regard to oooli faotory in order that tho results might bt grouped together. These results briefly stated ore: Thal ibero oro iu South Carolina Rovcntcci: factories,' (not including tho Wcstminstci Clement Attachment Mill) engaged in tlx production of cotton yarns and cloths. These factories buvo 95,438 spiudlct with 1,033 looms in operation. They produce 101,338 yards of cloth am 17,183 pounds of yarn for each workinr day; consuming for each such doy 64,041 pounds of cotton. They employ 2.206 operatives, who it turn support 7,013 persons who aro do pendent upon them, tho monthly pay roll being over 938,000. Tho eapits) employe) in these, mills amounts to ?2,288,600, ant they are estimated to bo worth to--da] *2,844,G00. Tho profits raogo from 18 to 50 pe cent, per annum upon tho capital invested This 60 per cent, is tho return from th Westminster Factory, tho well known hom of tho "Clement Attachment." At th other factories thc profit ranges from 18 t 25} per cont, per annum, tho highest rat reported boinj? that of tho "I'icdtnon Mills" in Greenville County. With titi summary of general results by way of intrc duotioo wo pass to the report of tho condi tton and operations of each factory, whio every ono oan read and undcrstuud fe himself. Those detailed reports aro give 10 tho order in which tho mills were visitct Tlie Gi-auiteville Ma u nine (ur In Company. The Graoitcvilio Factory, ono of th oldest and, at present, tho most extensiv cotton manufacturing establishments in th State, is located in thc centre of the ??HY ?of Granitovillc, about ft stone's throw frot tho Charlotte, Columbia and Augusta Kail road, and about a milo from tho Soot Carolina Railroad. Tho factory was lin organized in 1846 under a charter wilie ran for fourteen years, and nt rt recen session of tho Legislature tho charter wi renewed for thirty years. Mr. Williot Grogg was tho leuding spirit in startiu thc cntcrpriso, and Messrs. Joel Stuhl 11 y ra tn Hutchinson and Kerr Hoyt woro tho principal stockholders. Tl company started operations in 1840 upon capital of $200,000, and worked 10,00 spindles and 300 looms. Tho town of Granitovillc, ns it is collei is not an incorporation, and has no tow government osido from tho rules and regt; lation8 of tito factory; iu fact, it is dopend eut upon and inseparable from tho factor It has a population of 2,800 sou lt has tinco ohurohes and an Fpiscop chapel, and it takes just pride in an aoad roy, towards tho support of which tl Manufacturing Compony con tributes SI,0( per annum for tho education of thc childrt of tho operatives. The avcrago attendant at this sohool is 118 pupils. in 1867 after oovoral years of disostroi business operations tho factory passed in tho hands of tho company which no controls it; Tho officers of tho compat aro: II. II. Hickman, of Augusta, Pros dont; W. ll. Walton, ('ashier; James I Oilos, Sccrelsry, and S. W. llowlan Superintendent. This company owns nt controls what is known as tho Granitcvil Faotory, and also what is known ns tl Vauoluso Foolery, which is the offsprii of tho former faotory. Tho capital stock $600,000. Tho oousumption of raw colt per month at both fnotorics ia 1,000 bah and tho number of operativos omploycd 776} twe-thirds of whom are fournies ai who range from ll yoars up. At tho Granitcville Factory 24,264 Bpindlca and 584 loom? oro in operation, and ot Vau cluse 10,000 spindles and 800 looms. MOTIVE TOWER AND MACHINERY. Tho motive power is supplied by a littlo stream bearing thc .somewhat uuouphouious nome of llorac Creek. This stream fur nishes GOO horso power nt Orauitcvillo and 300 horso power nt Vaucluse. Two ponds, created by thc damming of tho stream covering 37? aoros, uro located a half milo above thc Granitcvillo Factory, oud tho water from these pouds is conveyed by means of a canul and trunks lo n "Pordcn" turbiuo wheel. At Vaucluse thc water ia colloctcd by dams into a pond 343 feet long and is conveyed to a turbine wheel by on ?inmenso iron pipe six and a half feet in diameter. Tho classes nf goods tnonufueto- jd oro sheetings, shirtings and drills. Tho brands aro: ij C shirting, {? lt li shirting, 4-4 B 10 sheet ?m.', 4-4 A A sheeting, 4-4 L Ii sheeting, improved I drills and S S drills. Tho machinery used at tho Orunitevillo Factory is nearly all English, while at thc Voucluso American machinery is used entirely. It would bc useless to describe tho numerous processes through which tho j colton posses in its journeying from tho I seed to the loom. It is already thoroughly j understood by thoso who havo seen it, while thoso who havo not seen it will I bc no wiser ofter euch a description than before it. In brief, then, it will bc only ' necessary to stato that after ginning, thc j cotton first goes through tho openers, then to tho pickers, theil to tho card-, then to tho drawing machine, then to tho slubber, then to tho (ly frame, then to tho mule and throstle, lt then comes out fi'ling and warp, numbering from 12 to 20 yarn. This then passes to tho spoolers, then to the warper, then to tho slasher, and fina 11 y to tho loom from which it emerges cloth. To givo an iden of thc capacity of these two tullis 1 M cured during un interview with tho President and Superintendent tlx following figures which wero taken from thc books of tho company: Tho daily pro duction at thc Granitcvillo mill is 35.00C yards und nt Vaucluse 10,000 yards. At tin i Granitcvillo mill during two weeks endinp I Junuary 10, 1880, 105,GIG pounds o I cotton was consumed, whioh turned ou 140,773 pounds or 480,000 yards of cloth At the Vaucluse Mill during thc Bann time 70,738 pounds of cotton was con sumed, which produced 56,587 pounds, o 197,000 yords of cloth. Thc colton willoi was used during this time was purchase) at 11.72 cents per pound. Tho cost, there fore, for tho cotton used ot both mill during thoso two weeks was 827,099 51 Tho cloth produced from this colton a both mills wus 086,000 yards, thc price fo which in thc murkct ut this time is over ! cents per yard. Culling lt 8 cents n yard, th voluc of thc cloth produced is 851,SS0, o within n small fraction of double thc valu of thc cotton. In other word?, thc proc?s of manufacturo increased thc valuo ol' th raw colton 100 per cent. COST OF PRODUCTION. lloving arrived at tho relativo values c tho raw cotton und thc manufactured good; wc must next try und arrive at thc cost c production, and thereby estimate os nour t possible tho net profit in thc business. 1 found thc President und Superinten dent, while scrupulously courteous un obliging, a little vnwilliug to divulge wi.; they termed thc secrets of tho company, could not, therefore, get thc exact ftgun of tho cost of production, but on estima! very nearly exact may bo arrived ut i another woy. Tho poy roll at Grnnitevil for tho two weeks ending January 10,187! was 81,938 92, and nt Vaucluse for tl samo time it was 32,188 74. This mnki thc loiul poy roll at both factories $7,127 (ii Tho cost of supplies, puch ns oil, hornes ppools, eco , is 3100 a doy ot both fnctotic Tho supply account, therefore, for tv weeks, of six days each, would he $l,20l Tho cost of producing 680,000 yards i cloth, therefore, was ?8,327 G6. Add i this 327.699 51, the cost of thc cottoi and wc have 886,027 17 as thc total cost i thc manufactured article to thc compon This a amount of goods, ni shown above, worth in the market 851,880, or a m profit of $18,852 73 in two week?. Thei may bc incidental expenses which havo Di been calculated, and whioh may slight but not muierially niter this result. The of course, must also bc deducted cotnmi; aibtisO? finies and freight and insurance Tho real success of thc company cann perhaps bo boiler demonstrated than I quoting thc language of tho President hin self, who, despite his cautiousness, cou not help expressing his prido and satisfai lion in tho work he had nccomplishc "Wo have," said Mr. Hickman, "be running since 1873 between two fires, b wo seem to havo emerged from that trout now, and wc aro at present making ham some profitr?. If tili? condition of alla continues for five years, and I think it wi wo will moko a heap of nionoy. Ever thing hos conspired (luring tho last twcl montha to help this country, and of cou? cotton manufacturero have come in I their sharo of tho profits. Tho success this concern has bean really wonderf although 1 havo seen some hard times. WOB clcoted President of this company tho fall of 1367. Tho foolery was then a dilapidated condition. It had been r t? doath during tho war, and tho eoinpo hud no orodit, and wc wcro iii debt 850.0( Wo were paying 12 por cent, intc?oat on tho money wo were using. "I wont to New York and scoured I money WO wanted and commenced opel lions. Tho GiV-uvtovillo Mill was tl: producing 240,000 yards of doth per foi night. Tho production now is 489,000 yards per fortnight From tho time 1 took ohorgc up to tho present I have spent ou this mill nnd tho property on tho place 8200, 000 at, least. I novo doubled tho produc tion of tho mill. I purchased 1,100 shares of stock, for which I paid 8150,000, and cancelled it, reducing tho capital stock to 8600,000 from 8710,000. 1 have built tho Vaucluse properly out of tho curnings of tho Grouitcvillo Mill. That property is worth 8350,000, and duriug all this time, in addition to these outlays, I havo paid dividends averaging per cont, on thc capital ?took. Wo havo been moro fortu nato than some of tho other factories with respect to tho sale of our goods. "Wo sell our goods nt tho market voluo when delivered) oud ns wo ure always behind our orders wo have reaped tho benefit of tho boom, o nd aro getting 8 cents for thc same goods that other factories under contract uro furnishing for 0} cents per yard, I linvo orders ahead now for 350,000 yards of cloth, and have not a halo on hand. Thc Vaucluse Factory, aa I said before, was built out of thc earnings of tho Qranitovillo Mill without increasing thc capital stock. Tho founda tion stono wan laid in July, 1877, nnd operations wcro commenced in tho fall of 1878. The erection of tho property in round numbers cost 8350,000, which includes tho erection of 70 operatives' houses, the building bf dams, bridges, con duit pipes, iScCi "Tho building ls constructed of graute and brick thu first story being of stone. It is located three miles from Oranitovillo, j on thc Charlotte, Columbia nnd Augusta Railroad. At Qranitovillo wc have 230 operatives' residences, und ut both factories these houses are rented nt about half their rental vnlue. Jvich house hos a gardcu attached which is cultivated. Tho opera tives raise their own chickens and hogs, and aro allowed the privilcgo of cutting all thc wood they want from tho place without charge. Houses of fro til eight to nine rooms rent for six dollars, and houses from three to four rooms for tinco dollars pei mouth. Our operatives consist almost entirely of families from the surrounding country in tho neighborhood. They have. bcnn educated to ibo business by skilled hands, and their moral, ns well as theil mental and phytdool, condition has beet greatly improved. As n rule they aro t well-behaved and thrifty set; nnd they cot live so cheaply that they save money, SOUK of which they deposit with tho company Weelo all wc can to encourage thia anion? them. LANI) AN Ir IJA?O?. "At Qranitovillo and Vaucluse ibero ari besides tho operatives, 1,050 persons de pendent upon tho factories for support Land herc is very cheap. It is not wort! moro than o uplift h of what thc same kim of land would bring at tho North. Thor is another great advantage which wc posses over thc Northern manufacturers, and thu is thc absence of strikes among our opera lives, In nine cases out of ten t. o strike ut the North arc caused aud lcd by forcig help. All our operatives aro raised rigli hero and aro not subject to these influences I might say, ns n further proof of on succesp, that the stock of tho company sol for 803 a sitare in 1S07, n:id now is quote ut 8123. Even this ?gu.r.a is not a fui estimate of what it ls worth beca uno nobod wants to sell. 1 could go iii thc inarki1 to-morrow and run it up to $130, or eve 8150, just by offering that for it. This i not what we want, however." 1 nskod tho .Superintendent why it wr that they did not employ colored operative! Ile replied that it was difficult t? work th white and colored operatives together, bi his opinion was that a factory could I started and run with colored oporativt entirely superintended by skilled whil operatives. Such a factory ooitltl bo ru 40 per cent, cheaper than ono whero whil labor was used entirely. Tho expevimen however, had never been practically tric? Mr. Howland, thc Superintendent of th company, who is n Northern mab an thoroughly acquainted with his business, i answer to a question ns to what io] h opinion was thc prospoot for manufactorii in this Stato, said: "1 think that tho prospect for tnanufac tories in this Stato for thc next live yeo nt least is decidedly good. Thcro arc loee lions in this State which for tho purpo: excel any locality in thc world. Manufac tories in tho South aro no longer nu cxp< riment: ul) thut is needed is good manage .neut. A UV A NT AO KS F. ?? JOY BP. "Tho advantages wc enjoy over thc Nc England manufacturer arc too numerous mention. Roughly estimated tho cost manufacture hero is 11 cents per pout cheaper. Wo can run all tho year roun aro not liable to strikes and have abunda labor nt very muoh lower ra?ca. In n opinion if thc first cost of applying wat power is taken in tc consideration, nnd t interest o:) such investment is calculate tho aten ll) power in certain localities', really ehcapcr than tho water power. Tl depends very muoh upon tho situation, thc factory; for instaneoj ?v ntcam factory Charleston where coal can bc obtained bulk nt reduced rates, could bc run cheaply if not ohenps-r than water pow A'steam mill away from tho railroad viou of courso, cost moro. Thc question health nlono is thc ouly advantage tl tho country would havo ovor Chnilcoton. "Tho health hero at ilrnuitovillo nnd Vaucluse is excellent. 1 don't think need any legislation from Congress to c courage manufactures in thc South. 'I only encouragement manufacturers nt is tho exemption fro in taxation Vfhioh now exists ou oil new machinery." "What do you think about tho Cl?mont Attpohmcnt?" I asked. "1 dou't think (ho Clement Attachment will hurt anybody," Mr. Ilowlaud roplicd, .'except tiloso who iuvcftt in it. 1 think it will brcuk 8 out of every 10 planters that go ?uto ?t. Sly main reasons for thinking PO, oro that it will bo next to impossible to store enough seed cotton to ruu u largo mill, and a small mill will not pay. "Yarn oannot bo made without the em ployment of skilled labor, und it will not pay to engogo suoh labor for a small mill which only turns out a few bunches of yarn a day. At any rate it will not uffeot tho largo factories iu thc nligliteat, because if they manufactured all tho cotton in tho Stato into yaru wo would manufacturo moro doth and linn I ly ibo South would manu facturo all tho coarser goods; loaving New England to mako thc fiuor gooda whioh sho can now manufacture cheaper than wo oau." Thc properly of tho (iranitoviilc Manu facturing Company is valued at $1,000,000. Tho G rani to ville Factory is built of solid gtanlto blocks, and is provided with every modem upplianco in thc woy of machinery. Tho system of live protection is perfect, and tho grounds in front of tho factory aro beautifully luid off. Tho Vaucluse Factory is a stroug red brick building, thrco stones high. Kvcry thing around tho plueo is new and clean, and tho owners olaim that it in recognized to bo thc best mill of its size for thc manufacture of brown goods iu thc United Slates, lt is furthermore, they claim, thc ouly mill in tho South that paid anything during tho first yeur of its opera tion." Thc S.aiiglcy Manufacturing Company. Tho Langley Factory is within cosy dis tance of thc Charlotte, Columbia and Augusta . Railroad, and is directly ou thc lino of tho South Carolina Railroad William C. Sibley, of Augusta, Ca., is thc president of tho company, and M. F. Fostci is superintendent. The town of Langley, which, like Qrahitevillo, isjiotincorporated is n neat little village with a population o! 825 inhabitants, all of whom arc dependent upon tho factory for a oupport. Tho fac tory is a hnndsomo red brick building th reo and a half otorico high, and is sur rounded with grounds neatly laid off. Tin village is composed of ouo hundred dwell ing hottSRQ, of from thrco to eight rooms in which tba operatives of tho factory re side, and for which they pay from twenty livo to thirty seven and a half cents reu per week per room. A oh arch is now bc inc? built by tito company which will cos 88,000, ?nd n school is in operation towards thc suppost of which thc compati; contributes a handsome sum annually Thc company owns thc PO tiro village, inn they have, including their ponds. 4;00' acres of land. Everything about thc place is kept ex quisitoly neut and clean, and the observer i impressed at n glauco with tho pet fee order and good management which every where prevail. Thc factory was erected i 1SGG, and in 18G8 thc company having i in chargo failed. In 1870 tho presen company was organized with a capital c SHOO.000, with tho privilego of raising i to 8400,000. By a recent uct of thc Leg islaturc thc company has the privilego c increasing the capital steck to 8S00,00C Tho capacity of thc factory is 11,88' spindles, 828 looma and 101 cards. Th inaohincry is all American, and wt made by thc Lowell (Mass.) Machino Shop: The water power ia obtained from Hun Cree!:, und 800 horse power is used. IJ means of extensive dams two ponds cov?rin an hrcn of V18 nefen nrc formed ribov? th factory which furnish a fall of 20 feet upo an American Turbine wheel. Tho Langte factory bas au advantage over tho Uran ito ville und Vaucluse factories with vespoot t its water supply, ns it hus thc uso of two < throo tributaries to Horse Crook, which flu' in below Qranitcvillo VIVE C?.ASSKS OF GOODA manufactured nrc: 7-8 Langley A ahirtin 3 4 Langley shirting, 7 8 A drills; 7 8 drills, 4 4 Langley A drills and 4 4 Lan ley B drills. Thc production of thc factory is shown tho following statement taken from tl company's books. Tho consumption of ra cotton for tho year ending 27th Dcocmhc 1870, was 2,11G,G22 pounds or 5,598 bale Tho amount of cloth turned out during tl snnic time was 2,182,240 pounds or G,898 784 yards. Tho waste is estimated at lc per cont. net. Thc number of operativ employed is 830, all white nod two thin fem?lo. T|tO avcrago rate of wages pi day is 78 cents, and tho poy roll for tho months ending December 27,1879, w $77,fiS0 -10. Daring tho lost twelve mont two semi annual dividends of G per coi each have been paid, and during tho thr years previous dividends of 4 per cor semi annually were declared. Besides t payment of th COO dividends tho ootnpa has laid asido a commercial capital 8150,000, nt:d has made improvements tho property coaling many thousands dollars. I nuked Mr. Foster, tho Suporintcndr of tho factory, who is n man thoroughly i formed upon all mattors relating to business, What he thought was. THU PllOSr-ECTH l'OR MANUFACTURES in South Cnrolinr, judging frotri his o expevicnoo and kuowlcdgo of tho odvatu gea afforded by tho Stato. Ile replied; (,'I manufacturing boniness is 25 per oo bottor than it was a year ago, and tho hibit which con bo raado by tho rnamtfac rios of South Carolina is OH good anywhoro in tho world. Thoro is tn encouragement for manufactories to bo started in tho South thuu any other section i in tho world. I don't say South Carolina I alone, but sho has ns good chanco ss auy. She grows as much cotton in tho scotious where laotorics would bo likely to start, and has a climate equal to auy iq tho world, She has suporior advantages to thoso of New England, of Old England and of India. Wo hove a groat advantago with roBpcot to labor, and thc advantago with respect to the procuring of tho raw uiato jiol is immense. Wo can ship our goods to tho Western markets justas cheaply as they eon from Lowell, oud nt tho same lime Hiive all tho freightn, commissions, stetilngc, insurance and risk on tho cotton. Wo have an advantage of fully li Centn ou a pound over thc New England manufac turer. I dou't think wo nocd any National legislation to encourage manufacturers in tho South. If thc question of manufac tures is taken into Congress it will bo bound to go ogainst tho Southern manufacturing interests. AB to Stato legislation, I think that tho EXEMPTION FROM TAXATION for ton years on all new machinery should be continued. This exemption is nec essary to placo this Stato ou a footing with other States where it is in force. I think tho exemption should bc ou tho capital stock of thc company. Our property bas increased in value under thc prcsopt D10D agemcut 30 per cent., as ls shown by tho sale of our stock in tho market at 130." As to thc relative cost of running a fae tory by steam and water power, Mr. Foster Said: "That is a matter whioh depends greatly upon tho situation. If you can find water power on the Hue of railroad it possesses all the advantages of steam aud is cheaper, but if it is located away from tho railroad whero you havo to haul your goods it cannot bo compared with cteatn near tho railroad. Thc first cost of applying wuter power is greater than steam. A steam mill could bo established in Charleston near ono of tho wharves .to aa much advantage as onywhero in South. Carolina, provided you have a railroad runuing to tho faotpry so that tho cotton can bo dolivorod at tho mill and tho manufactured goods Tie shipped directly from thc mill by rail or water. Under such circumstances A BTE A M MIM. IN CIIARLKSTOW, whero coal can bc obtained cheaply, abc whero thero is a market for cottou all tin year round, .would bc cheap ns any watei power ld tho country." How about tho Clomont attachment? ] asked. What do you thiok of it? Mr Foster replied: "1 think tho Clement At tachment is a humbug. 1 might as wei oall things by their right natucu. . As i practical man I should object to it on ita mc chonical construction. . I believe thu manufacturing is a special business tim requires skilled and educated labor, whiol thc planter cennot command without payiii{ for it. . A Bmall factory connot bp compar?e to a largo ono with respect to the cost o production? olid, ?ho profits ona sinai machine, auch ns tho (Moment Attachmen men propose, would bc no email that i would not pay to employ tho class of . labo whioh would bo necessary to moko.a style o goods which would rita nd tho tent, of th market. This Clement Attachment i simply a revival of tho Henry Attachmcnl which proved a failure thirty years ago," In nu8Wor to further inquiries Mr. Fostc stated that LABOR WAS VERY PLENMFUL and that they could get 20 per cent, mor than was required to run thc mill. Th operatives, ho said, ore tnfido up entirely t tho people bufo und raired right in th vicinity. Tho overseers oro New. Englan men. One half of thc stock ia held i New York aud thc other half is equally di vided between Charleston ond Auguoti The cost of lund in South Carolina is ulmoi nominal. Mr. Foster said: "Tho lan around Langley wes not worth n dollar a aero a few years ago. It is now, of courin without the improvement!!, increased I valuo more than a hundred per cent. Th health of thc placo when we first took hoi waa not good, but by thorough draina^ and strict sanitary regulations wo hn\ mudo it os healthy OB any placo could b Wo havo bad but thirty deaths io thn years, and fiftoen of tkeso wore infants." Tho Langley Faotory ia in good hand and with n continuation of the present ff vorablo condition of affairs it cannot ? to yield a net profit of 20 to 25 per ccu on tho capital invited during the ensuii year. The lied Ita ult Iflaiiiifactiiiiii Company. This js t'.iQ nanto of a thriving litl cotton factory oituatcd on Ked Hank Cree in Lexington County, about 13 miles frc Columbia. Tho factory which was erect in 1873, is a two-story frame building, 1 by 45 feet, with a picker room attach 19 by 25 feet. Tho company was ?r?t i gani/.cd lo 1873, with Mr. J. P. Southe as .President, Mr. John Groen aa Super: tendent and Mr.W. C. S wo ifield as Secret! and Treasurer. Mr. (Jreen now fills t position of President arid Superintendc and Mr. SwafHold r?mnin? Secretary ti Troasurcr. Tho cap tal stook of tho co pony is 3-15,000, with a commercial cap of $7,300', which has been created sit 1878. Tho fnotory runs 1,036 spiud and new inachiuery hos been ordered wh will in?rense tho capacity 50 per cr Tho muohinory used is partly Amati and partly English, and is in excel! order. Tho company omploys 31 opt lives, all wliito, who nro paid on nn aver of $4 33 por wock. The weokly poy-r not including salaries, is 8134 47. 'I operatives aro accommodated in se I-.-7^--"-i-1-r I singlo und five double bousea oWDcd by tho company on tho placo, rent freo. . TJi? operations of the factory are confined to th bj manufacturo of No. 20 warps, which ?od a roady uiarkot iu Philadelphia at thirty couta per pound nt present, against eighteen couts per pound a year ago. The consumption.pf raw cotton in 13,000 pounds per mooth, and the production per month, is 11,000 pounds of Warp. Tho Wasto is about 18 per cent., a largo proportion of which is utilized sud manufactured into cotton twine. Tho Red Bank Creek furnishes 50 horso power, ano) tho factory is run by a 52-iuoh Lafoll's turbine wheel. In answer to a question as to how the enterprise was paying, Mr. ,Swaf fluld, tho Secretary nod Treasurer of ?hp company,, replied, that tho company had paid an annual dividend of two dollars por sham, abd had devoted tho bulk of tbp profits to tho purchasing of now moohinpry and tho creation of a commercial capital. Tho factory is now paying a profit of ONE PER CENT. A MONTH on a capital of 810,000. "Wo havo nevor had a balo of tho warp oti baud for sale." Mr. Swaflicld said: ''Our orders arc always ahead. In August lust our warps wore selling at ?O.?.8 cents per pound, and oot tou was selling ut ll cents per pound. At thc present time our warps aro selling ot 30 cents a pound, and cotton is selling at ll GO cents per pound. Our labor is com posed entirely of natives, who havo been educated to tho business. They are very comfortably located, and have tho freo use of hil tho wood they require." Concerning tho relative cost of WATER AND STEAM, Mr. ownfiicld gavo it as his opinion thal; while wuter power was ohoaper, steam was surer. "Tho relativo cost would depend greatly upon tho location, but, said ho, lani satisfied that a handsome profit can be made with .steam power. iu any. locality where fuel can bc obtained in bulk and at whole sale rates. Steam can bo worked all tho time." . .. With respect to the prospcot for oottod manufactures in this State, Mr. S wolfie ld said' "I think there is a great deal, of money in thc business in this State, abd if the prices keep up in proportion td tho prtco ol cotton any ordinary faqtory will pay from 15 to 25 per cent, during tho ensuing year. Wc havo. everything in thia State to inako cotton manufactures a success. ,. CHEAP LAND, CHEAP FUEL, CHEAP LABOIt and tho great nd von togo of having tho ootton right at hand-hoing able. to. work the year round without any interruption from cold. Toking into consideration tho diffcreuoo in tho cost of labor, fuel ana transportation thoro.is fully ll to 1^ per cent, n pound advantage in favor of. thia Stato over New England ip tho oo8t dt production. Tho proof of .that is thut tho Southern fuotorics havo always muda money, even iq the most trying, times. .There ia ho doubt that - tho law. exempting mill, property from taxation for .ten years isa great onco?ragemcnt to the storting of, new. factories, but taxation wouldn't deter . mo, from going into ono. X :tbiok the cotton industries aro going to pay a fair profil., and should contribute nt least to tho sohool fund." , With reference to THE CLEMENT ATTACHMENT, Mr. Swofiield said, that ho was not suffi ciently acquainted with the prooesa to give, cn answer. . "J. hardly think,.however*" hp, saitl, "that it is practicable, and even if it is I think it will only roeult in attracting attention to manufacture? generally, .andi increasing tho number of largo factories all over tho South. There ia a Gold hero largo enough for an unlimited number of factories to moko monoy. The South, beforo very long, will bo manufacturing ali' thc coarse goods." . Mr. Swallicld's opinion with respect to colored operatives was that thoy oould not. bo properly cducatod to db tho work. Tho whites and blacks will not work together, and wo have an abundance cf while labor, which is certainly superior to any class of colored labor that wo could employ.", , . ,.. Tho lied Bank proporty is valued at 800,000. Tlic Srtfmlri Cotton factory. This tfmnll but prosperous, faotory ir located on thc banks of tho Saluda River, about two milos from Columbia, in tho' county of Lexington. Tho building, whioh '. is a substantial traine structure and storm foundation three stories high, 205 feet long ? and 50 feet wido, is located on the site of{ the old Saluda Factory, which wos burned' by Sherman ot tho oloso of tho war. Mr*. Wm. Johnson formerly of North Carolina, ' is thc owner and proprietor of tho property and Lis son-in-hw, Mr. J. M. Campbell, is' the Superintendent. Tho water power of tho river is estimated at 25',000 horses,-] 10,000 of whioh are under control and 100 in uso. There aro ot present 7,000 spindles in operation and on addition of 1,500 moro will bc rando shortly, and will be in opera?' lion by tho first of Maroh. Tho faotory Diso oontaios 100 looms", whioh aro not now running, the operations of tho faotory boidg entirely confined to tho manufac turo of No. 20 yarn. Ono hundred opera tives nil) employed, twenty-fivo of whom aro colored, ranging ita ago from' oight ysare un. Thc rato of Wagos paid ranges from , 25 oonts up to 83 per day. Tho Weekly; pay roll amounts to between $400 and 8500. Between three and four hundred' porsons aro dependent upou the faotory for a support. Tho operatives live in houses looatcd around tho factory owned by Mr/ Johnson. Theso residences rent for from1 20 ocnts to 81 per week, and ranga in aloe** from 1 to 10 rooina;