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PRESIDENT THOMPSON'S ADDRESS

Col. Thompson then introduced Mr. Parker Q. Moore, Mayor of Wilmington, who delivered a stirring and eloquent Address of Welcome. This was responded to with equal eloquence by Mr. W. A. Erwin, of Durham, N. C., who graciously referred to the religious, educational and political development among those who toil in the cotton mill industry, as well as the pleasure of meeting at Wilmington—the Atlantic Gate Way of North Carolina.

President Thompson then delivered his address and report.

Raleigh, N. C., July 15, 1916. TO THE NORTH CAROLINA MANUFACTURERS:

Gentlemen: This meeting was called by the Executive Committee at a date and at a place that would make it possible for every mill in the State to send a representative.

The year just closing has been full of perplexities, but every mill manager must be gratified when he compares conditions now with those existing a year ago.

The head of every mill felt that to fly to the wilderness offered the only way of escape from the storms of coming calamity. Now he can take a few days off, bathe in the waves of the Atlantic, bask in the sun on an ocean beach, and revel amid the charms of Wilmington and Wrightsville. The report of your Secretary and Treasurer

the receipts and disbursements for twelve months, plus a deficit that came over from last year.

There is still a small balance in the treasury.

The reports from various committees cover the principal activities of our work as an Association.

Your especial attention is directed to the report of Mr. S. F. Patterson's committee. He spared neither time nor expense in doing the work assigned to him.

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PLANS FOR THE FUTURE The following suggestions are offered with the hope that you will refer them to the Executive Committee for its attention:

First: That the President serve one year only.

Second: That actual expenses of all committees holding meetings be paid by the Association.

Third: That an active campaign for new members be pushed during the last half of the year, in order that every mill may be enrolled before the first of next January.

Fourth: That a publicity campaign be conducted for the purpose of showing what cotton mills have voluntarily done for the education and welfare of employes.

Fifth: That traffic and purchasing departments be established.

Sixth: That standard systems of accounting be considered by a special committee, and a suitable one for cotton mills be adopted.

Seventh: That closer relations be established between this and other associations of manufacturers.

Eighth: That a spirit of co-operation be encouraged between this Association and the National Government for the purpose of promoting foreign trade.

Ninth: That a like spirit of co-operation be promoted between manufacturers, the railroad companies, and between them and Southern ports, with the view of increasing and developing port facilities.

I think they are worthy of your careful consideration, and perhaps some of them may be worth trying out.

Two of them I want to especially advocate, and trust you will agree that they are essential to the continued growth of our indusry.

CO-OPERATION
To secure this, we must begin a campaign of education.

Our people love independence. Political independence has been bred in the bone of every North Carolinian of the white race.

Esse quam videri, describes a pronounced characteristic of our people, but we would sacrifice everything, even life itself, to maintain our independence.

This passion for political independence has so permeated our natures that we find it hard to realize that under present conditions it has but a small place in world commerce.

We must first learn to know each other and work together.
We must co-operate with our railroads, and with our seaports.

We must join hands with Chambers of Commerce throughout the country.

We need to cultivate the acquaintance of bankers at home and abroad.

We must join hands with our National Government, and win our share of the commerce of the world.

Shifting our position from a debtor nation to one prepared to finance a large portion of the world's needs, gives to this country an opportunity that we, as manufacturers, cannot afford to

miss.

No company in the South is strong enough to go it alone.
W must have a State Association with every mill a member.

I earnestly appeal to every textile mill in this State to enroll its name without delay.

I firmly believe that with concerted effort, this country can export at least twenty per cent. of all cotton mill products, and if that can be done, over production will be impossible and hard times will soon only be a memory.

MILL COSTS AND SELLING COSTS There was a time when both of these were largely disregarded, but both home and foreign competition compel a careful scrutiny of every item of cost entering into the making or selling of all products.

Spinning is the simplest of mill operations, and to illustrate the cost of the first process, Mr. John E. Halstead, Specialist in Mill Accounting, has prepared a paper which will be of real value if the principle is carefully studied.

The preface and pages 21, 22, 23 and 24 might be printed and mailed to members, if approved by the Executive Committee.

“Wear and Tear" enters largely into the real cost of manufacturing.

What percentage should be charged off each six months?
It is important that a standard should be agreed upon.

We are between the insurance companies and tax gatherers. We would, of course, not try to mislead either of them, even if we do try to fool ourselves when computing earnings.

SELLING COSTS

The trend of commerce is towards reducing the cost between producer and consumer.

The process has been slow, but the direction is unmistakable.
The first thing we should advocate is elimination of abuses.

The second: Simplify the terms, getting as near a cash basis as possible.

Second: That actual expenses of all committees holding meetings be paid by the Association.

Third: That an active campaign for new members be pushed during the last half of the year, in order that every mill may be enrolled before the first of next January.

Fourth: That a publicity campaign be conducted for the purpose of showing what cotton mills have voluntarily done for the education and welfare of employes.

Fifth: That traffic and purchasing departments be established.

Sixth: That standard systems of accounting be considered by a special committee, and a suitable one for cotton mills be adopted.

Seventh: That closer relations be established between this and other associations of manufacturers.

Eighth: That a spirit of co-operation be encouraged between this Association and the National Government for the purpose of promoting foreign trade.

Ninth: That a like spirit of co-operation be promoted between manufacturers, the railroad companies, and between them and Southern ports, with the view of increasing and developing port facilities.

I think they are worthy of your careful consideration, and perhaps some of them may be worth trying out.

Two of them I want to especially advocate, and trust you will agree that they are essential to the continued growth of our indusry.

CO-OPERATION

To secure this, we must begin a campaign of education.

Our people love independence. Political independence has been bred in the bone of every North Carolinian of the white race.

Esse quam videri, describes a pronounced characteristic of our people, but we would sacrifice everything, even life itself, to maintain our independence.

This passion for political independence has so permeated our natures that we find it hard to realize that under present conditions it has but a small place in world commerce.

We must first learn to know each other and work together.
We must co-operate with our railroads, and with our seaports.

We must join hands with Chambers of Commerce throughout the country.

We need to cultivate the acquaintance of bankers at home and abroad.

We must join hands with our National Government, and win our share of the commerce of the world.

Shifting our position from a debtor nation to one prepared to finance a large portion of the world's needs, gives to this country an opportunity that we, as manufacturers, cannot afford to miss.

No company in the South is strong enough to go it alone.
W must have a State Association with every mill a member.

I earnestly appeal to every textile mill in this State to enroll its name without delay.

I firmly believe that with concerted effort, this country can export at least twenty per cent. of all cotton mill products, and if that can be done, over production will be impossible and hard times will soon only be a memory.

MILL COSTS AND SELLING COSTS There was a time when both of these were largely disregarded, but both home and foreign competition compel a careful scrutiny of every item of cost entering into the making or selling of all products.

Spinning is the simplest of mill operations, and to illustrate the cost of the first process, Mr. John E. Halstead, Specialist in Mill Accounting, has prepared a paper which will be of real value if the principle is carefully studied.

The preface and pages 21, 22, 23 and 24 might be printed and mailed to members, if approved by the Executive Committee.

“Wear and Tear" enters largely into the real cost of manufacturing.

What percentage should be charged off each six months?
It is important that a standard should be agreed upon.

We are between the insurance companies and tax gatherers. We would, of course, not try to mislead either of them, even if we do try to fool ourselves when computing earnings.

SELLING COSTS The trend of commerce is towards reducing the cost between producer and consumer.

The process has been slow, but the direction is unmistakable.
The first thing we should advocate is elimination of abuses.

The second: Simplify the terms, getting as near a cash basis as possible.

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