Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-01-22
Business

the OIbNu L ILlLCt IAtNttANh w AAi"AAAAi
Of Germany.
Business
Twenty British companies, possess
ing capital to the amount of S4O,OODOOO
are engaged in the United States I'm the
production Of food. The Legislature
Of South Carolina recognizing the in
suficienCy of capital has under cOnsid-
Seration bill to permit the intreduc-
ton of large capital into that State. \
southern Land Loan Association, with
a capital 6f 5000 900 has been Crgan-
ized for the purpose of extending into
the Southern States methods of land
mortgage investments.
The cotton manufacturing industry,
long Northern monopoly, Is moving
toward the neighbOrhOOd of the. cotton
fields, and Southern newspapers conf
IDENTIFY say that the erection of South
ern cotton mills has already made itself
Scusibly felt in the Northern market;
that the manufacturers of coarse yarns
find themselves unable to withstand
the pressure of Southern competition,
and that Southern manufacturers are
declaring handsome dividends, while
the Northern mills are running on short
time and reduced wages.
Advices from Birmingham and Shelf
field state that there Is q good call for
light iron and steel wares, but manu-
featuring capacities are not severely
taxed TO supply the demand. There
is an absence of rush and a spell Ofslack
time would not be astonishing. There
sIe no war orders to fill at this time,
ftAnFinn,f hn Aar,or1
gradually grows less for these kinds of
British goods. The export trade, how
ever, taken as a whole, is fair, but orders
are generally i'm such q shape as to allow
Of filling in season, without any undue
activity.
The lake companies are producing
i150WO pounds Of copper per month,
which in a ten months production,
would amount to II, 100000 pounds.
The manufacturers contracts call for
2UDOWO per month, and although
these contracts run only for four
months, they will doubtless be renewed
at the expiration of the limit. This
call steadily continued, would consume
100000 pounds, leaving nearly l2,-
uO,0NO TO be provided for, besides what
will be added by other sources of sup
ply, The outlook is not particularly
bright, though miners and dealers ex-
pect to worry through, some way or
other, without any decided decline in
price.
The total output of iron ore in the
Lake Superior regions increased from
"lO,S4O tons in 1875, to 2,94S,3l4 tons
last year. Total production OF region
up to January lst, since its develop
mcut, 2O,5S5, 757 tons; total production
Ofpig iron in lSS2, -, 962 tons; an in
crease of IS per cent. over 1881. The
total production of anthraciteScOal last
year was 29,3l6, SS7 tons, rs against ~
"l ,l64 tons, an incrSase Of 47-lO per
cent. The tonnage has increased from
7,l27,6S tons in 1878, to the figures
quoted for last year. The Cumberland
production for last year wOS ,5S2, $50
tons, as against , 81 1876 tons in 1881.
decrease of 30 per cent.
Foreign capital Is pouring into the
south at an unprecedented rate. The
holders Of low interest bonds in Europe
sSe the surety of great profit in careful
investment in the newly developing
forest and mineral lands of that section,
and the result is an influx that must
tell favorablv in the very near future.
The State lands are being sought in
nearly every direction, and the higher
prices asked 10y private holders, in most
instances, are willingly sold. Not since
The tiascO of the Emma mine, has there
teen any time when the foreign
capitalists, and particularly the
British, placed such light re-
slT'ctlons upon investments on this
side. Mining properties and mineral
lands have been sold in London, within
The last six months, that would have
rten laughed out of the British market
hyy"or even three years ago, no matter
S'hat Mhat the asked price might have been.
Here i growing confidence on the
''htr side, that the South has future,
,hH the money holders have about
made up their minds that the way to
secure share in that future, is not
ShIough the old investments in Com
tderate bonds.