Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-07-29

development as the South has never known.
Of more than 800, 100000 invested, fully
$50, 600, 600 will be invested at once in im-
provements. At Atlanta, for instance, the
Daily Constitution, in an article giving de-
tails and contracts, shows that 81, 800, 600
is contracted to be spent in the next three
months in building and equipping new lines
already commenced from Atlanta as head
quarters. The work ON the various roads
involving this vast expenditure Is already
begun and the money is provided. The ex-
tent of this development may be imagined
when we state that the entire railroad sys-
tenn of Georgia, every mile of road now
built cost very little more than that involved
in the new lines now under contracts at At
lanta. There are, of course, many roads
being built outside of these contracts carry
ing total capital sent in and devoted to build
ing new roads in the els Mississippi south to
more than $50, 600, 600.
The money already appropriated to build
inc these new roads vast rs It is, for the
most part is devoted TO main stems To
feed these, stem branches must be built
which will involve more expenditure and
consequent development. There are now
organized two companies to build feeders to
the Georgia Pacific, and they claim to have
the money ready to begin work as soon as
they obtain their charters. Colonel Cole
conternplates building several branches to
the main stem he is building for the Cincin-
natl and Georgia company.
The investment of this vast capital has
taken from the hands of Southern holders
at advanced prices millions OF dollars
worth of railroad stock and bonds, the
money from which will be putin real estate,
| factories and business. 70 illustrate In this
city Mr. Alfred Austell cleared hundred
thousand dollars on the rise in East Tennes-
see and Virginia stock when he sold to the
| Cincinnati and Georgia syndicate. Mr.. W.
| G.. Morrill, cleared seventy Thousand, and II
is said that Mr.. II. H. Richards cleared two
! hundred and fifty thousand. In August;
! large amounts were cleared by the rise un
der sharp Northern manipulations of Geor
| gia Railroad stock from IS to 1856 of Cen
| trail from 90 to 165; of Memphis ano
| Charleston from 40 to 90, aud other loco
stocks in proportion. Large amounts o.
these have been marketed to the North II
higher figures, and the sellers must seel
| other investments or use for their money
This gives great impetus to local enterprises
| and values.
The influx of this vast capital in Southern
railroad enterprises will bring capital for in
| cidental developments, The men who con
troll these syndicates are interested in thu
general growth of the country through
which their lines run, and they will add t.
the general confidence inspired by these in
vestments special inducements to thei
friends. They will induce emigrants t.
settle along their roads, inaugurate the open
| ing of mines, establish factories and fur
naces. The Louisville and Nashville Com
pany has added thousands of dollars annual
ly to its freights by the building of furnace
along its lines and the Richmond and Dan
vile Company has brought hundreds o
immigrants into Georgia and the Carolina
| by its efficient immigration bureau. New
properties viii be opened and new oppor
tunities offered by new lines.