The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-01-03
Good Times and Iietter Coming In the
gAufh

south.
From the Lexington (Ky) Transcript.
One Of the most striking circumstances Of
the times is the vast amount OF money that
is flowing into the South, and is being ex-
pended in building new railroads, extend
ing old ones aud in organizing new enter.
prises. Wherever there are mineral treas.
ures TO develop, capital in superabundanee
appears to he ready to embark in utilizing
them, and to construct through or branch
railroads to facilitate the bringing Of the
products to market The activity mani.
tested in the Valley Of Virginia during the
past year has been most remarkable. New
buildings are going up In all
directions, new railroads are form.
ing perfect network Of iron
lines through the gaps Of the mountains,
and new furnaces are either projected or
are under construction. One OF the most
noteworthy Of these industrial adventures
is that OF an English company, which has
bought a large body OF iron orc lands at
some distance from hfiiiboro, where they
propose to build the largest furnaces yet
projected at the South, bringing the ore to
the furnaces by railroad already partial
" graded along the Valley Of Mil Creek,
and which, when completed, will pass
within two miles Of RDckbridge and Alum
Springs, now only accessible by stages
All along the lines Of the Chesapeake &
Ohio and the Richmond & Allegheny roads
and their branches arc stretched trains OF
coal-cars, immense masses oil iron ore wait
ing shipment, and OF lime stored from the
quarrics near by. The Lowmoor furnaces
and the Clifton torges are said to be worked
to their utmost capacity, and everywhere
one meets with signs Of unprecedented
prosperity Nor Is 1t in the valley alone
these manifestations OF industrial progress
are found; they may be witnessed In other
parts Of old Virginia, stretching from Tide.
water to the Tennessee line. Quite mum.
Der Of tho other Southern States are sharing
in this happy change; some in the increase
oil cotton manufactures, Others in the min
ing and smelling OF iron and copper, and
in getting out kaolin to be used in the
making OF porcelain and other wares,
and in various arts and manufactures. It
has been estimated that not less than one
hundred millions Of dollars have been sub
scribed at the North within the past eigh.
teen months for investment in the States OF
the South east Of the Mississippi river, and
south and west OF Richmond. Within q
year two millions OF dollars OF eastern and
other capital have been invested in cotton
and other manufactures in Georgia alone.
Three millions have been subscribed in
New York for the development OF coal and
iron in Tennessee. Eighteen hundred
thousand dollars have been put into cotton
mills and steel works in Alabama. All
these and many more inyestn Dts arc out
side OF the large sums expende1 in buying
up and improving old railroads and build
ing new. Besides these investments
by capitalists in the Northern,
Eastern and Middle States, Euro.
pean syndicates have entered the field.
One syndicate-the Erlanger-is said to
have recently bought an immense tract OF
land in Alabama. English capitalists
bought, few years ago, some forty thou
sand acres in Georgia, and are now seeking
an opportunity to invest half q million oil
dollars more in other States. Whatever
may have been heretofore the misfortunes
OF the Southern Suites, good fortune has
now come to them. They are having their
railroads built chiefly by foreign capital,
and wherever the people in localities inter.
ested show disposition to put their own
money in such enterprises, they are readily
met with liberal backing from other quar-
ters The risk is therefore mainly that OF
others; and m immense gain derived from
the advantages, commercially and terrific
rally, that railroads give, accrues to the
Southern people locally, substantially and
without peradventure.