The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-06
A FINE RECORD.
The South's Continued Advance.
New Enterprises Established in the
Last Nine Months.
A Very Large Increase Ovor the
Two Preceding Years.
How Tennessee Stands es Com
pared With Other States.
The Amount of Capital Invested in New
Business Enterprises is $751;
4l5,ooo- Factories OF
Every Description.


have marked very important period in
the industrial history of the south. The
great boom OF 1887 brought into existence
many gigantic land companies and many
iron, coal and other companies, organized
for the development Of the south. The
boom in real estate and the speculative
fever which it engcndered, was looked
upon with fear by many who anticipated
financial trouble when the reaction came.
AS the calm inevitably follows the storm,
80 the excitement in real estate and in the
organization OF enterprises partly based
upon real estate, has been succeeded by a
period OF depression in land values, with
comparatively few sales. Instead OF bring
ing disaster, as many had feared, the south
has gone steadily forward, its great
enterprises pushed TO completion and new
ones, large and small, organized in great
number. Here and there the decline in
real estate has temporarily retarded the
progress OF some new enterprise, but rs the
dun season is now closing, to be followed
by period Of activity, due in part to the
abundant crops and in part TO the uni
versal prosperity Of southern manuiac-
lures, we may look for a revival OF many
projects now held in allegiance and the
projection of hundreds Of others. Moth.
ing could better have demonstrated the
thorough soundncss OF the industrial
growth OF the south than the way in
which all business interests have stood the
tight money market and the real estate
depression which followed the boom. The
capitalists OF the north have closely
studied these matters, and we venture the
prediction that their faith in the continued
progress and prosperity Of the south is
greater today than ever before.
Never before in the history Of the south
was the outlook brighter than il is now.
The immense furnaces and rolling mills.
car works, cotton mills and kindred enter.
priscs, upon which work was commenced
from twelve 10 eighteen months ago, and
which during all that time have been yir.
tually locking up the capital invested in
their construction, are now, one after
another, rapidly going into operation.
Moreover, they are beginning their careers
as wealth producers at most suspicious
time, when the demand for all their pro-
ducts Is active, with prices yielding u good
margin OF profit Soon they will be taking
the crude material and turning out millions
OF dollars worth Of finished product TO help
enrich the south. The corn crop. the sec.
ond in importance In the SOUTH has made
another advance, and the total reaches
b33,OOO,OOO bushels, the largest amount
ever produced by the south, being Il 900.
600 bushels greater than In 1887, and lOO,-
100000 bushels greater than in 1884. only
five years ago. The yield OF cotton Is vet
somewhat uncertain, but doubtless that
will be but little, II any, less than the
splendid crop Of 1857, while prices will
probably average higher, as the worlds
consumption Of this staple Is now 20 enor-
nous ~ 20 cause a steady decline in the
stock. Railroad construction is active.
and the heavy investments Of foreign and
northern capital in the improvement of
old roads and the building OF new ones at.
test the faith Of the world at large in the
truth Of Judge kcley's glowing prcdic.
tons Of the s0uih's great iuturcas gwen in
the last issue OF tho Manufacturer RSoom
From Maryland 10 Texas progress Is the
order Of the day. and when the political
excitement is over and the crops are har-
vested then We may look for period Of
wonderful activity In all lines Of industry.
Tho Ndngdc'iwTy' Rooyi has repeatedly
called attention TO the increasing diversity
Of the industrial growth OF The south.
Small enterprises OF III kinds are springing
mp in every direction, aud year by wear
the south Is increasing IT, production Of
many articles for which IL has heretofore
been dependent upon other sections. An
Of the recent industrial growth
Of that section will show how rapidly this
Is going on. In Atlanta q 100000 com.
pany n prcpafingt0 supply a large part Of
the southern demand Tor sewing machines
Glass factories in Alabama and Gcorpia
have proved that the south can make lis
own glass. Car works intWcnty or twenty
five places and locomotive works In Rich.
m0nd aud ll0InOKc demonstrates that the
south can make H. own ears and locomo-
tiyos at lower cost than they can bo
made for Ia the north or west.
Furniture and carriage factories all over
the south arc beginning 10 supply the
home demand, while canning factories are
saving hundreds OF thousands oi dollars 10
the south. Nowhere else In all the world
j. the raw material for almost cycry line
Of manufacture 80 abundant ~ Ia the
south, and scarcely a week passes without
some industry entirely new 20 this section
being organized 20 turn this raw matcrial
into wealth, while Of enterprises in csiab.
lishcd lines OF industry many arr daily
started. As illustrating the increased al.
ycsity Of the new enterprises We give the
following comparison. showing the num-
Der organized during the first nine months
Of each OF the last three years