The Daily times. [volume] (Richmond, Va.) 1886-1889, 1888-08-10
RICHMOND'S BOOM.
ILSO THE GENERAL PROSPERITY or
THE SOUTH
Increased Business of the Southern Rail
rOads-How Southern Cities Generally
Have Improved-The Political Situation.

roads-How Southern Cities Generally
Have Improved-The Political Situation.
New York star.l
Among the prominent Southern men
net in Wall street is Major James II
Oooley, one Of the leading lawyers and
capitalists of Richmond, Va Mr.. Doc.
ev was formerly vice president of the
Richmond and Danville railroad and
had charge of the law department Of
hat company. He said yesterday:
"The railroad business of ;he South
las never been so prosperous as within
The past year The Richmond and Dan
vile, the Norfok k and Western, the East
Tennessee, Virginia and Georgia, and the
Georgia Central, which are the represent
tive roads of the Piedmont country
THE upland country of the South, all
show the largest earnings in their his
ory"
"Why is it especially apparent just
now"
"If YOU will look at the cities along
lhese lines of railroad you will see that
they ar. enjoying the greatest prosperity,
with one or two exceptions, and doing
he larges, business in their history"
"But where is this improvement most
apparent, Mr.. Uooleyy
ITO mention somewhat i'll detail one
might begin at West Point, which is the
terminus of Che Richmond and Danville
Railroad at deep wafer in the York river.
This shipping port on the Richmond and
Danville Railroad during the past twelve
months has nearly doubled its shipments
Of cotton, and has increased its general
tonnage 60 to 75 per cent. We come next
to Richmond which, for 80 many years
after the war, had hard struggle for
bare existence, and we find that for the
irst time since 1865 it is now enjoying
something that might be called BOOM
Then there are exhibitions OF special
enterprise in Ricbmond?'
ave have just completed a handsome
inion depot there, and we are now con-
,Irucling a tunnel under the city through
| which all Of the railroads can reach the
1nion depot. We are about building
railroad called the Richmond & Ches-
apeake Railroad, connecting Richmond
with the Eastern Shore of Virginia. We
have just put into operation fourteen
miles of electric street railway, 10 which
we are about to add about ten miles more,
| giving us the finest street car service in
The whole world. We are about build
ing hotel which will cost $500 900, and
| On the 1st of October next will open an
industrial exposition which will be the
The most attractive exposition yet held AT
any point in the Southern States. Owing
to these and other causes real estate has
advanced in the suburbs of Richmond
from 100 TO 600 per cent during the past
two years This advance is not rashly
speculative nor unhealthy, but is legiti-
mate reaction from a depression which
has long refused any advance and has
held values abnormally low"
"How about the general prosperity Of
the South"
"To follow the lines of the Richmond
and Danvlle Railroad Company toward
the Southwest, we come first to Danville,
which has doubled its population and
quadrupled its wealth since 1881. Still
further down South, in North Carolina,
Durham. within the same time, has grown
from village Of 800 people TO city OF
10000 people, and has become one of
the leading manufacturing tobacco centres
OF the South Still on the same line,
further west, Ashevile is rapidly coming
10 the front as business centre and has
trebed its population since the census Of
1880 Atlanta, one of the chief cities on
the Richmond and Danville Railroad, in
in its rapid growth and accumulation of
wealth presents all the appearance of q
Western city. Birmingham, another
city on the Richmond and Danville Rail
road line, has had growth so phenome.
nal as to have attracted the atten-
ton of the whole civilized world
While, owing to real estate speculations
pushed too recklessly, ii has experienced
some financial troubles of late, its iron
industries continue 10 develop TO the sat.
isfaction Of its warmest friends and will
fulfill all reasonable expectations formed
by its business nen. Chattanooga on the
East Tennessee. Virginia and Georgia
Railroad. Admission and Bessemer on the
Georgia Pacific Railroad. are scarcely be-
hind Birmingham in development, and
give rich promise Of future wealth and
greatness"
"DO you consider the prospects of
general business equal to the averagey"
If there is any depression of business
in any part of the United States 1t Ger
tainly does not exist in the South"
"What is the political feeling among
the business men of the South?'
"The Southern people naturally look
with great anxiety upon the big battle
about to be fought upon the old issue be.
tween high protection and what might be
called-in the present day-reasonable
projection. The South has growing in
dustries in iron and cotton which are
revolutjonzing our economic and, to
some extent. our social conditions. She
ranges herself on the side, not of free
trade, but of modified tariff In the full
confidence that she Is to he benefited and
not injured by the results. In our view
of the situation high tariff, or a higher
tariff las the Republican platform de-
mands) is needed only for the protection
of industries badly located, unwisely
planted, and which probably ought not
TO exist. A tariff modified with the con-
servative views which now prevail in the
Democratic party will give ample prolec-
ton to every industry which ought upon
its merits to continue to live, and the
south with such a tariff feels fully able