79
- It was received by the business men of the community favorably, and a mass meeting was called for all who were interested in the undertaking, and this meeting went on record as favoring the erection of such a plant. J. L. Davis was Chairman of the meeting, and he was authorized to appoint a committee to solicit stockholders. In a very short time shares were pledged to the amount of $387,000. T.S. Grayson, wealthy lumberman and President of the Farmers Bank and Trust Company, and W. N. Paschal, also a wealthy, retired lumberman, were, with the exception of Couch, the largest single stockholders.
In the meantime the promoters had heard J. E. Serrine of the J. E. Serrine Company, Cotton Mill Engineers of Greenville, South Carolina, speak about how to get into the cotton mill business; and when it was seen that the people were behind the movement so wholeheartedly, these engineers were employed to design the physical plant. Two experts were sent out to Arkansas for the purpose of investigating the different types of cotton grown here, suitable location, availability and kind of labor, and other pertinent factors. They evidently reported favorably with respect to most of the conditions, but were unable to agree with respect to the kind of cloth which this section could manufacture to the best advantage and which this plant, therefore, should be designed to make.
- Both a long and a short staple cotton are grown in this county, and
either cloth of relatively good or of relatively poor quality could be
made from it. A committee from the local mill organization was sent to
Greenville to confer with the engineers with respect to the kind of product
to make. The President, T. S. Grayson and a Vice President, J. O. Hutcheson,
were sent. Through J. E. Serrine they got in touch with a cotton mill operator
who was also a New York broker, dealing in cotton mill products. This man,
Le Vealle McCannon, met with the committee as an expert advisor. Subsequently
he was employed to sell the finished product of the mill; and that position
he continues to hold.
Words
Study Questions
Related Sites