MILLIONS FROM COTTON.

Poverty Bay Herald, Volume XXXIX, Issue 12817, 17 July 1912, Page 6

MILLIONS FROM COTTON.

£3,000,000 A YEAR PROFIT. Air Archibald Coats, for the last ' 20 years head of the great thread business of J. P. Coats, Ltd., died recently at his residence, Woodside, Paisley, afeed 76. The great international combination, whose annual profits now exceed £3,000,000, had its origin m a small thread manufactory started by a soldier of the Paisley Fencibles almost 60 years ago. The prodigious development of ■Coats during the last two decades is one of the industrial romances of modern times. It has consolidated almost the whole of the sewing cotton business m Great Britain, tied up' businesses m America, and linked itself with the leading manufacturers on the Continent. The real beginning of the combination was m 1890, w.hen the present company was started witha capita! of £5,700,000. During the previous seven years the profits had averaged £426,000 a year. For the next four years tv\e dividend was 8 per cent. Then it mounted /to 10 per cent. The following year, 1896, it was 20 per cent.; and two years later 30 per cent., wb,en, lor the first time, the "profits exceeded seven figures. In 1900 the profits were £2,511,945, and a 30 per cent, dividend was accompanied by a2O per cent." bonus. In 1907 the profits exceeded £3,000,000. For the last three years the dividends have been 35 per cent, and the profits regularly 'over £3,000,000. Meanwhile the ' paid-up capital has reached £10,500,000 and the reserves £8,250,000. Mr Archibald Coats was the second son of the late Sir Peter Coats, and, like all members of the family, was very generous m his local benefactions. Mr James Coats, a millionaire, member of the firm, died last March, aged 72.