The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1881-08-12
WHAT THEOUTSIDE WORLD Is DOING
FOR THE SOUTH.
Nov Orleans Picayune.l

q lengthy and interesting article show
ing that $lOO, ,0OO,O 900 has been subscrib-
Ell in the past eighteen months i'll de-
vcloping the resources of the South.
The details are given of the sums
involved in various railway enter
prises and some few industrial move
| ments, but the figures relate almost
entirely to the section of country lying
east of the Mississippi and south Of the
Potomac. Strictly speaking this sum
has been invested for tho regeneration
of the South Atlantic States, and the
tendency of capital is but partially
Swallowed by the showing, encouraging
| as it seems.
1t embraces, however, less than half
of the money which has flowed into the
South during tho past year to be in
vested in new industrial enterprises
and means of transportation.
1t may be as we'll to cnumeratc the
! enterprises referred to by the Herald,
though our people arc familiar with
| them already. A grouping Of facts
often serves to impress more fully
the drift of events, and large aggrc-
gates teach a lesson not fully incul-
Gated by isolated occurrences.
1. The Cincinnati and Georgia Syn
dicate, capital SIG, ,O0O, 900, organized in
New York, purchased the Macon and
Brunswick Railroad, Selma, Rome
and Dalton, East Tennessee and Nir-
einia, leased the Memphis and Charles
ton, and will spend 81 700, 900 in build
ing new roads.
2. Georgia Pacific Syndicate, capital
$4,000, 900, is to build railways from
Atlanta to Birmingham, through the
coal fields of Alabama to the Mississippi.
3. Norfolk and Western Syndicate,
which purchased the Atlantic, Missis-
sippi and Ohio Railroad, and is to
build extensions. Capital, $11 200, 900.
4. Erlangcr Syndicate has bought the
Alabama and Great Southern Railroad,
Brunswick and Albany, Vicksburg,
Shreveport and Pacific, Nicksburg and
Meridian, and is to build 32O miles Of
new road. Capital put on the Euro
pcan market, 81 500, 900.
cd $l7 800 900 worth of property. The
Richmond and Danville Railroad,
Columbia and Grccnville Railroad,
Charlotte, Columbia and Augusta
Bailrond, York River Railroad, North
eastern Railroad, etc. They control
1850 miles of railroad, and arc building
100 miles moro. Z.
6. Louisville and Nashville sytcm,
which having spent several millions
to reach tho gulf, is now building the
railway from Pensacola to the Attain
tic, investing 81, 300, 900 in this enter
prise alone. It is. also putting 81 ,OOO,-
900 into the road from Lexington, Ky,
towards Knoxville.
z. Baltimore and Ohio Company,
which has bought the Virginia Mid
land, is building from Danville to
Spartansburg at a cost of $4,000, 900,
- tn
reach Atlanta.
The writer considering the effect of
these enterprises goes on to say:
"The Investment OF this vast capital
has taken from the hands of Southern
holders, at advanced prices, millions
Of dollars worth of railroad stocks and
bonds, the money from which will be
put in real estate, factories and other
business. To illustrate: In this city
one gentleman cleared 100000 Oh the
rise in East Tennessee and Virginia
stock when he sold to the Cincinnati
and Georgia Syndicate. Another clear
cd SIC, 900, and still another $3.50, 900.
In Augusta and other Georgia cities
millions were cleared by the rise
under sharp Northern demand and ma
nipulation of Georgia railroan stock
from S5 to 1855, of Central from 80 to
1G5, Memphis and Charleston from 40
to 90 and other local stocks in proper
tion. Large amounts of these have
been marketed to the North at high
figures, and tho sellers must seek other
Investments or use for their money.
This gives great impetus to local enter
priscs and values.
"The influx of this vast capital in
special railroad enterprises will bring
capital for incidental development.
The men who control the Syndicatcs
are interested in the general growth OF
the country through which these lines
run, and they will add to tho general
confidence inspired by their invest
| mcnt special advice to their friends.
They will induce immigrants to settle
along their roads, encourage the open
ing of mines and the establishment OF
/ factories and furnaces. The Louisville
and Nashville Company has added
thousands of dollars annually to its
profits by adding tho building Of fur
naccs along its line, and the Richmond
and Danvilie Company has brought
thousands OF immigrants into Georgia
and the Carolinas by its efficient inmi-
grafton bureau. New properties will
be opened and new opportunities offer
ed by the new lines.
! ESQ YOuch then briefly for the trC.