The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1881-08-12

ley-Wlih 81 ,OOO,oOO ana Sooo,o 900 capl-
tai, respectively, of which about one
third was taken South. \ new mill
tho king-with 81 ,OO0, 900, of which
$3.50, 900 is taken in Augusta, has been
organized, and the $3.50, 900 is being
raised rapidly in tho North. At
Atlanta a cotton mill is being built by
two firms, one of Cincinnati and one
of Atlnta, which take the entire stock.
1t is almost impossible to find :, city in
| the South i'll which there is not a new
| factory building or organizing, the
| usual plan that local subscriptions are
made for onc-third of the capital and
| the balance easily raised at the North.
| Without exception the factories are
prosperous, and where one is built it
is an induccmcnt and argument for
| others. u.
GA well-known capitalist of New
York went to Nashville last week to
see whether or not it would be safe to
buy 5000, 900 worth Of bonds about to
be put upon the Suwance Coal aud
Furnace Company. After invcstigat-
ing the property, he bought tor the
| company organized by telegraph and
headed by hinsclf) tho whole property,
which cost 81 600, 200, and which will
cost ST 100000 to develop rs the COM
pany proposes. The capital subscribed
is 50, ,OOO, 900. This is Il sample of the
| opportunities offered, and there are
| hundreds like it simply waiting capital
for Improvement. Another gentleman
| has just sold for $225, 900 cash Il half
| interest in Rising Fame Furnace,
which cost him two years ago 500, 900,
which amount he has more than drawn
| out in dividends since he invested it.
The company organized to drain the
IL 10 ,i.,l,
area larger than the State Of New
Jcarscy will be brought into cultiva-
ton, has capital of $5,0OO,OO0 and
probably double that will be needed to
finish the work. The bethlehem Steel
works company of Pennsylvania, is
arranging to invest $SS0O,00O III Bir
| minyhan,, Ala, and the Tylers, of
New York, have put over 81 900, 200 at
Admission, eAla., their latest invest
ment being Il cotton mill, built entirely
with their own capital. These arc but
examples picked at random to show
the drift of capital. The building Of
| the Georgia Pacific will open up the
most important coal and iron beds,
extent and variety and richness con-
sidcred, that can be found on the
American continent, and will inaugu-
| rate an era Of development in the
these minerals the like of which has
not been seen in the South.''
That agriculture, hitherto tho lead
ing industry of the South, will not be
| neglected, is illustrated by the follow
ing suggestion of the article:
"Capital to loan on farm lands is
just beginning to come South. ~ firm
representing sc, 600, 900, most of which
is furnished by Il banking company of
Now York and the Anglo-Amcrican
mortgage Company Iimited), of Lon
nuon, opened an Office i'll Atlanta: I few
months ago and advertised that it will
loan money on farms for per cent
per annnm. Tho domand for money
is brisk, and as much as 100000 has
been loaned in 4 month. This firm,
which formerly operated in the West,
will be followed by others. In New
Orleans an English company, with
practically unlimited capital, loaned
| 5000, 900 at low rate of interest on Mis-
sissippi cotton lands last year. a
Boston company to operate in the same
field is being organized now, with Mr..
r. G. Morchcati, President of the Mis-
sissippi Valley Cotton Flanter,' Assoc
| citation, as manager. There is no
doubt that millions of dollars of n North-
crn capital will be loaned in the next
| year on Southern farms, and the relief
| will be great and immediate.
"It will be seen from the above that
capital is coming into the South in as
| large sums and ut rs rapid Il rate rs ii
can be judiciously handled. This is
| all that the South has needed, and the
progress in this section in the next few
years will be an a3tonishmcnt to- those
who have not studied the subject
closely. 10 show to what extent there
has been suspicion OF everything South
| crn and how wide the margin of profit
is, Gen. Logan, Of Richmond, is quot
ch as saying that three years ago he
exhausted every effort TO get capitalists
in New York to invest $4,000 in the
bonds Of Virginia road that could be
bought at 80 and have since sold at
$ii0.''
Philadclphin prcSS.I
Northern and European capital
| which has heretofore stunned tho
South as Il field of Investment, has
recently received Il strong impetus in
that direction and now seems to be
Overlooking that entire section. Tho
causes which have recently kept this
capita! away from the South are many
and various, slavery and the evils
wi hif.f hovo Il ir,ptl,, ,,tl s.