The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-01-17
BIRMINGHAM's BOOM.
A Statement as to the Genuine Progress
of the City.

Under the Head, "Birmingham's Bogus
Boom" The MEMPHIS APPEAL quotes the
following from the Knoxville Tribune
"Nearly yearagot the Knoxville Tribune
said that Birmingham's boom was bogus,
and predicted that there would be col
lapse in less than twelve months. We are
confident that the Tribunes timely warn
ing saved Knoxville from the ruinous ei-
fects OF an artificial boom. Now that our
prediction about Birmingham has come
true, great newspaper like the New York
Herald comes out and exposes Birming-
hams bogus boom. What good has the
Herald accomplished? Why did il not
prick the bubble long ago? II has waited
until after hundreds Of men have been
ruined. A year ago the Herald could have
saved hundreds Of thousands of dollars to
the men who have since lost their all In
Birmingham. The HcrdIds late action
looks something like kicking a man after
he is down"
There is some excuse for an uttera nee
of this kind from the Knoxville Tribune.
Though that journal is disposed TO pose us
ton, people who are accustomed 20 read
it land they are few would be surprised
10 find il displaying anynccuratc knowledge
OF the point, much less foretelling what is
10 come.
The Tribune, therefore. from sheer igno.
rance and general incapabiity, is in
manner excusable for such an ulterance,
but We are at n loss TO understand why
paper like Tue MEMPHIS APPEAL should
reproduce its stupid vaporings.
Who has "lost their all in Birming-
ham?" Who that has made genuine in
vestments in Birmingham real estate has
lost anything? In spite oil the monetary
depression that affects Kansas City, Los
Angeles aud all the blooming" towns in
America, Birmingham holds its own, anu
there has been no appreciablc decline in
the price OF real estate here. But let us
consider that boom which the sagacious
Knoxville Tribune said a year ago was
bogus" and for that reason considers
itself smarter paper than the New York
Herald, which has just now discovered the
fact On. let us 90 back period of some
thing more than year and see what Biz
mingham has done in that time.
In the first place, It's population has
grown from $1,000 TO over 10000.
within that time over Si,0O0,000 has
been invested here in new buildings,
many Of them Of substantial structure and
handsome architecture.
Within that time, from one single horse
car line Of about two miles in length the
street railroad facilities have Increased 10
seyenty-six mlcs-fiity-thr miles Of
dummy lines and twcnly-threc miles Of
horse car lines.
Within that timo the railroad facilities
have increased from five roads radiating
out OF Birmingham 10 seventeen lines vi.
ready constructed or soon 10 be- completed
irtyarious directions from this city. And
within that time the handsomcst union
dcpot at any place In the south has been
built here.
Eighteen months AGO there were only
eight blast furnaces in operation in the
Birmingham district, and nov there are in
blast and under construction twcnty-four
furnaces.
Fifty millions Of dollars would probably
not cover the capilal represented by the
various corporations, partnerships and in.
diyiduals who have gone into the numcr.
Gus enterprises aud business projects begun
here within the time mentioned. Leaving
ont the large banking capital and that OF
land companies, Il. q. Dun q Co.'S com
mcrcial agency ~limaiod six months ago
that the amo invested in the manu-
featuring amt commercial establishments
OF birmingham amounted TO ~, 066,0OO.
That " the kind OF boom Birmingham
had. II Il WIS bogus what would II
take TO create q genuine boom?
II the very wise Tribune kept Knoxville