The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1888-02-29
WEST VIRGINIA BOOM.
AZ OUTSIDE PApEa,s vIEw oF IT.
The Mountain states wonderful wealth of
Natural RssOuress-No Limit to the Coal
Of NsGaraI o.. TsHiISSg, bat Beta
Fuels Everywhere In Plenty.


PaiSsWgA DIpG'eA
This rapid accumulation Of wealth in thI
large cities Of this country bsSrp Homt
strange features with Il. Instead o.
making investments in city property OIL
city schemes more and more lavish, tho
direct opposlts Ia the relult, and. In pro
portion TO this immense increase In CAPT
tai, less and less di,pohiEiOn Is shown 70
invest In even the best Of city properties
This tendency Is, no doubt, due to the
enormous advGncein real estate In place
where any large number Of people con.
gregSts. As q result capital in vain seeks
An Investment at q good rate Of interest
where there will be no risk Of bank or bus
iROCs becoming involved In one Of tho
many reactions that occur in the history
Of city or country.
The feeling hAB, 10 3 certain extent dFly.
en- investment 10 the West, where fortunes
bHvs been put into lbougands Of acres
Of lands, which can be used for
flaming and StoCk.TGislDg purposes only.
AAtuu lAhAb Atp AuACGtH1AuAp W AAAAuuun
and settlers, and will be 80 for yoars 10
come, 40 great corporations have quietly
become possnGeed Of the best part Of the
Western lands, leaving the Inaccessible to
actual seltlerB, HisIoty has again repeated
itself. For years constant stream Of EN-.
iGTEnts has been arriving on our chores,
snd ono and all have turned their laces to
the far West. Wherever these people set
TOD In body there spEang up the vol.
kuown mushroom town Of the West. II
10 there that these immense companies
reap their harvest. The town fostyTed by
them creates demand for land. This de-
maud 10 famed by the agents into flame,
aud az consequence prices run up high.
or aud higher, until the ground Ia sold at
almo6t fabulous prices, considering the
tirst coasot the land, which was only made
valuable by the presence Of the settlers.
DISASTROUS RRAorIoN
follows, and tho blow Of couIss falls upon
the las. purchaser, as It Ia only the origin.
al owner who has r0Aped rich profit.
With the collapse Of the real estate
boom. what 10 the eager Eastern investor
TO dot Torn back 10 the Est BgAin and
build up his shattered fortunes as best he |
may. The immigrant, however, suffers |
most bitterly. Terrific climatic changes
have Inin6d lie crops. His farm 10 mort. |
gagged to keep himself and family alive, |
and finally IL IL sold for mere song Ia |
order to keep the wolf from the door dur. |
ing tho irighliul winter-Wlntsra that
bring 70 the East only, by vsgue kilograms,
hints Of the untold suIsrings oil these peo. |
pie. The experience OF d few weeks sgo |
proves this 10 b. true. Then the pres
was filled with tales that could scarcely be
credited.
Ten years Of Wild investment and boom
ing OF the far West, with heavy Losses and
terrible reactions, HAYS demonstrated be.
yond doubt that the immense West can
not be developed with rush Of specula.
tors and emigrRnts. On the contrary, It
must DO the work Of years, almost CEN
turies. This is always the case where
farming alone must be depended upon'As
0 means Of livelihood. Il 10 no wonder,
then, that the rich mineral deposits OF the
East have been left practically untouched,
90 because the enormous year.
~ output 10 % yet nothing compared 10
what will be developed in the next len
years. Especially 10 this true OF that zone
oil country lying west oil the Appalachian
chain oil mountains, and extending from
Western New York on down south and
west through Pennsylvania, West Wiz.
1'Dia and Kentucky, and 10 Louisiana.
Underlying lhla immense Eone are what
are conceded TO be the most immense and
coal deposits In the country,
which only await capital for thelr proper
and