Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1888-02-19
FOUNDED ON A ROCK.
so SAYS AN EASTERN CAPITALIST
VISITING WICHITA,
He Gives His Opinion Of Wichita,
Her Financial Situation,
and Predicts Success
full Future.

| A reporter of the EAGLE yesterday met
a representative of one of the largest east
ern insurance companies of this country
He was here in the interest of his COM
pany. with view of more fully satisfying
themselves in regard TO the real situation
here. When asked if he was willing TO
give the results of his investigations for
the benefit of the readers OF the EAGLE, he
said: Il do not care about having my
name in the papers, for the reason that we
have interests in other western cities, and
if we are put in the light of boomers, as
you people call it, for Wichita it would
have tendency to make our business re-
lations unpleasant in some or these other
places. There are some things, however,
that ought to be said, and, in fact, are be-
ing said about this city in the interest of
truth and justice.
What sort of an impression have you
gained of Wichita during your stay here:
Your people seem to be aggravated on
account of Misrepresentation in eastern
newspapers about your city and state.
You think these reports have tendency
to make capitalists afraid TO invest here.
| You are mistaken about this. 1t may
have the effect to temporarily check emf
grafton, but that is all. Great institutions
! like the one represent do not 90 to east
ern newspaper offices for their information
about western cities. Our information Is
compiled by our own men On the ground.
just as am obtaining information of the
situation here We have had information
of the situation here, but what l am re-
| porting here is simply of recent develop
ments. 1t would not surprise me if much
more valuable information of all the new
counties west of Wichita could be found
| in our Office than could be
obtained in the EAGLE Office or at your
board of trade rooms The information
that ! have obtained since coming here
only more fully confirms our previous
opinions based on information, that while
Wichita is built on the rich soil of the
Arkansas Valley all her business enter
prises and great institutions are founded
on rock. There are no great moneyed
institutions in the east but have faith in
Wichita and her future.
Does not the fact that money matters
are easing up here indicate that there is an
| increased confidence in Wichita on the
part of those moneyed institutions in the
east?
No They had faith all along. That is
very easily accounted for. There has been
a money stringency in the country for
more than year, which is now be-
ginning to ease up. Not that there is
more money in circulat ion but less de-
mand The great railroads are not just
now using so much money in building.
that along with some other causes is be-
| oil 70
! the centers. When there is not large
surplus of money it goes first to the points
considered most favorable for investment.
| For that reason Wichita is one of the first
places to receive the benefit of this accu-
mutation of money, and will be one of the
last places to be affected by any further
stringency in money matters.
Upon what do these moneyed institutions
base their confidence,in Wichita?
As said before, on information compiled
| by these companies. One important point
| is the location of the city. About every
| body comedies that there will be a great
city somewhere in this valley, and while
| Wichita was conceded to be favor
ably located, its recent developments have
| forever set at rest any doubt on that
! subject And it is now conceded by every
| body that Wichita is to be the great
metropolis Of the southwest. Now, just
the fact that this city is located in the
very midst of these two valleys formed by
| the two Arkansas rivers would not of it
self be sufficient to justify these expecta-
tions that wonderful city will be built up
here, if the great country south and west
of here were a barren waste. There is a
great belt of country lying west of here
and extending to Colorado and into the
Panhandle country that will produce corn
equal to this land around Wichita. 1t, in
a very few years, will become thickly popu-
lated with fourishing towns and cities, all
tributary to Wichita. And since the re-
cent developments in sorghum sugar
making the new counties north
west of here are looked upon
with more favor. Millet, broom corn
and sorghum are a never failing crop in
that section. | should not be surprised if
these new counties situated north and
west of Wichita in a very few years would
be known and recognized as the most
profitable sugar producing section in the
United States or even in the world. These
natural resources are all taken into con-
sideration by our people in their estimate
of Wichita
Another very important item is your
manufacturing enterprises. Eastern peo-
pie are beginning to consider your posi-
bilities in that direction. And l must say
there is confidence in that line. The Bur
ton Car Works people and the Dolds have
done much to inspire eastern capitalists
with the Importance of Wichita
as manufacturing center. They
are known through the east AS
men of sagacity and solidity in
financial way: ! doubt if your people
really yet appreciate the Importance of
these two enterprises to your city. They
will be the cause of bringing large amount
of capital here Such enterprises as these
use good deal of money in their business,
and the regulations OF these men are such
that they can bring all the money here that
they can possibly use, or invest profitably.
Do you think your company will take a
hand in helping to build city here
| think we will put very considerable
amount of capital in here by the last Of
April at the outside. Some of this money
will be put out on real estate loans, and
the balance will he invested in city prop
erty for permanent investment. ! am in
a position TO know that unless some unfor
seen calamity overtakes the country in the
next nine months a very large amount OF
eastern money Will be invested in Wichita
The greater part OF it will not be invested
in order TO take advantage of boom that
is liable TO be felt here when Your various
industrie: now about completed will be
put into operation, but will be invested
in good property that will pay reasonable