Centre Democrat. [volume] (Bellefonte, Pa.) 1848-1989, 1881-09-08
PROSPERITY IN THE SOUTH.

PROSPERITY IN THE sol TIL.
rHE RAILWAY Eoou-ISrLuN oT ckrITAL--
pEyELorHENT oF RESOURCES.
rrou the Washington ro,t
PETERSBURG, August l6.-Thc tide
of immigration appears at length to
have taken a southern course in con
sequence of the manifest prosperity
now so prevalent in different parts o:
the South. In the last year and
half over Sl00,0O00O0 of capital has
been invested in railroads, etc, in the
South, exclusive OF large amounts cx-
pended in the Southwest.
Syndicatc> have been formed in va.
rious States, such a the Georgia Pa.
citc, with a capital of sl2, 10000 !;
the Cincinnati and Georgia, with n
capital of S22OOO,0O0; Norfolk and
Western .NaI, about $4,000 900 /;
the Erlanger. about slO.OOO,OOO; !;
Richmond and Danvilic VA, SIS
600, 900 the Louisville and Nash.
vile, about $4,000. 900; the Baltimore
and Ohio, Sj,OOO0OO in new south
crn road, while your enterprising pa.
per recently contained an article cx.
hihiting the large amounts being ex-
pended in the extension of the Chcsa-
peake and Ohio to Newport News,
thus opening up the most direct route
for shipments to Europe. These large
sums are being invested in the con.
struction of main lines as n general
thing, from which numerous branches
will speedily be extended in every III.
rection.
Indeed, there is such boom in
southern railroad stocks that fortunes
are rapidly made by judicious invest.
ments. In recent article in the
New York Heraid it i, stated ~. in
Atlanta, Ga, zone geutlcman/x
100000 on the rise in EaI.k
see aud Virginia stocks.lnthSx
ed $4,000, and still ant Der y, 600.
In Augusta aud Other Georgia cities
were cleared - the rise of Georgia
railroad stoGs Nrom s. to ls5; of
Central from 90 to l6j Memphis
and Charleston from 80 to g3, etc"
The entcrpri,ing gentlemen who CON
troll these southern roads are offering
such inducements a will make it to
the interests of settlers to come south,
where climate, health, easily improved
land--now rapidly increasing in
prices-all conducc to afford fine
field for permanent investment or
speculation.
Cotton factories are springing up in
all directions, and having the adyan.
tages of close proximity to the raw
material, which can be purchased from
the producers direct, thus saving trans
portation, commissions, storage, etc,
with ample water power and cheap
labor, no factories in the world can
successfully compete with them. The
large amount of northern capital now
invested in the construction of various
manufactures all over the South
shows that these advantages are be-
ginning to be appreciated. The min.
eral resources are also receiving serious
attention, and mines are being explor.
ed and millions expended in develop
ing these almost inexhaustible re.
sources, as the most casual inspection
of any northern mining journal will
prove.
Northern capitalists are also form
ing companies for the purpose of loan
ing farmers money at seven per cent.
interest. One gentleman has s3000,-
600 so invested. The want of capital
and the incubus of carpet-bag legis.
lation have heretofore greatly retarded
the prosperity of the South, but with
these removed she enters upon a ca.
reer uuexampled in the history of this
country.
Northern men are daily visiting this
section in search of homes, finding, as
they do, from the experience of their
neighbors who have been here, that
they are cordially received by all
classes Of the people. Lands at pres
ent are cheap, and even where they
are poor from the effects of injudicious
farming, they recuperate with wonder
ful rapidity.
Your correspondent recently drove
over a farm near this city which was
purchased a year or two ago for s13
per acre, which now has about one
hundred acres in peanuts, which will