Big Textile Deal Is Made at Gastonia. . . High Shoals Cotton Mills Have Been Purchased by the Manville-Jenckes Company—Cost About $1,000,000
By the Associated Press
Gastonia, Nov. 17—The High Shoals Cotton Mills at High Shoals, N.C., has been bought by one of the biggest textile plants in Gaston county by Manville-Jenckes Company of Rhode Island, from the estate of the late C.B. Armstrong and A.G. Ayers of this city, for approximately $1,000,000, according to an announcement here today.
The property purchased by the Rhode Island concern includes the mills with 18,500 spindles, building, and 1,500 acres of land.
It is understood that the Manville-Jenckes Company plans to develop High Shoals Mills on a par with their big Loray plant in Gastonia. The Loray Mills, a 135,000 spindle plant, has been operated by the Rhode Island concern for some time. The High Shoals Mills were built by the late D.A. Tompkins and associates of Charlotte, and was acquired by Armstrong and Myers interests in February, 1920, for $1,250,000. The mill is equipped with 800 looms and has been manufacturing sheetings.
From the front page of The Concord Daily Tribune, Nov. 17, 1923.
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