The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1881-08-04
Capital Seeking the South for Invest
mauf.


Z A correspondent Of the New York
Herald shows that there has been sub
scribed in the North and in Europe in
the past eighteen months 500, 600, OOO
for investment in the South. This sum
of money covers investments and pro
posed improvements south of Rich
mond, Va, and east of the Mississippi
river. 1t includes what the different
railroad syndicates are doing and pro-
pose doing to improve old roads already
built, and to complete new lines and
make new connections. The Cincinnati
and Georgia syndicate that was organ
lied in Nav last, has capital of 1922
900, 0G0. 1t purchased the Macon and
Brunswick system in Georgia; the Sci
ma. Rome and Dalton in Alabama; the
East Tennessee and Virginia in the
States named, and has leased the Mem
phis and Charleston. 1t will spend
about 81 900, 900 to connect and consol-
idate these lines and parts of lines into
one grand system.
The Georgia and Pacific syndicate,
with subscribed capital of 81, 800, 900,
includes some of the richest men in the
North. They will build line of road
through the coal and iron fields from
Atlanta, Ga, through Alabama and
Mississippi to the Mississippi river, de-
veIoping one of the richest properties of
the Kind in the world Work is already
progressing on both ends of the line.
Gen. Gordon, Of Georgia, is at the
head of this enterprise.
The Alabama and Great Southern
road has just purchased the Brunswick
and Albany road of Georgia, the Nicks-
burg and Shreveport, and the Nicks-
burg and Meridian roads, at cost of
$40, 800, 600. The company will build
800 miles of new road, and has placed
81, 500. 900 Of its bonds upon the Euro
pean market.
The Erlangers have already on foot
and will soon commence work upon the
New Orleans and Northwestern n. %.
Il 8Ieridian) penetrating the heart OF
the rich lumber region of Mississippi.
Capt. Hardy of Meridian is the Vice
President and master-spirit Of this great
enterprise.
The Richmond and Danville Compa-
nv controls l $50 miles of road, and is
building 400 miles more, besides its in
terest in the Georgia Pacific. 1t stands
in about the same relation to the South
that the Chicago, Milwaukee and st.
Paul does to the West. Its capital ac-
tpaIly invested is SIT 800, 600.
The Loaj.yille and Nashville system
has laid out work fot tn Gext year that
will involve the expenditure Of miiiicns.
and tic Baltimore and Ohio has set
aside 5000, 900 f0r extensions in
the South. The Atlanta CONSTITUTION
SAYS that 81, 5000 is contracted to
be spent during the peXt twelve months
on the roads centering in that city.
The writer in the Herald refers 10
developments which are being made IN
other branches of industry IL the South,
as follows:
In the past twelve months ~ 900 900 has
been invested by Eastern subscribers ID
two cotton factories at Augusta. Ga.-the
Enterprise and Sibey-with 81 900, 900 and
10000, 900 capital, respectively, Of which
L Al.
milI-the kjng-with 81 100000. of which
$3.50, 900 is taken at Augusta, has been or
ganized, and the $750,0oV l. being raised
rapidly in the North. At Atlanta cotton
mill is being built by two firms, one of Gin
cinnati and one of ( tlanta, which take the
entire stock 4 wel-knowB capitalist OF
New York went TO Nashville last week tn
see whether or not it would be safe to buy
5000, 900 worth of bonds about TO be put
upon the Suwanee Coal and Furnace Com
pany &iter investigating the property he
bought-for a eOudP4Gy organized by tele-
graph and headed by himse,t-t'.;e whole
property. which cost g., 600 800, and which
will ocst 81 200, 900 TO develop as the com
pany proposes The capital subscribed Is
So, 010, 900. This Is . sample of the oppor-
tupities offered, and there are .-pndreds like
it, supply waiting capital for Improvement;
Another geDtieEaaa has just sold 500, Ooo
caSn, q nalI interest IN lAtSltln Fiuic A u
mace, which cost him two years ago sSs,VuU,
'-Shich amount he has more than drawn
OUT in dividends since he invested it. The
company organized to drain the Everglades
in Florida by Ehich an area larger than the
State of New Jersey vii be brought ln,@
cultivation, has a capital of 5000 600 and
probably double that will be needed to fnish
the work The Bethlehem Steel Works
Company, of Penpsyl yapia is arranging TO
invest 100000 at Birmingham. Ala, and
the Tylers, of New York have put over ST.
OO0, 900 mt Admission, Ala, their latest in
vestments being a cotton mill, built entire
ly with their own capital These are but
examples picked at random to show the drift
of capital
Capitalists who h2ye abundant means
have discovered that there is 10 place
which offers advantages equal TO the
South for investment. She has good
government, good laws, and all the OPP
portunities for successful Enterprises.
Her people may well rejoice that after
the long night better day is dawning.
SEQ.