The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1889-04-25
Greater Prosperity Than Ever Before
Known in AuerJca.
Manufacturers Record.l

The great industrial development
throughout the South continues TO
show an ever-increasing activity, and
the attention OF Northern capitalists is
being turned Southwark as never be-
fore. New England, which has here
tofore sent it's surplus capital and energy
to the West, is now making heavy i'll
vestment in the South, and Hon. He..-
ry B. Pierce, Secretary OF State of Mas
sachusetts, in letter to the Manufac-
turers' Record, published in this week $
issue, referring to this fact and to the
vast mineral wealth of this section,
says: II am thoroughly convinced
that it is to be the great iron center of
the world, and that the people will
marvel at the growth which will be
brought about during the next twenty
five years. 4 l predict for the New
South an era of prosperity which shall
eclipse any which has ever been
achieved in any other section of our
great country, so remarkable for its
successes in that line" Governor d.
H. Goodell, of New Hampshire, in an
interview with a correspondent of the
Manufacturers Record, referring to the
great success which has attended the
organization of a 81 600, 900 company Of
New England capitalists to build
town at Fort Payne, Ala, says that
there are over ! 300 stockholders in this
company and "the success of this ven
ture will have for its effect the diver
sion in great measure of New England
capitalists to build a town at Fort
Payne, Ala, says that there are over
1900 stockholders in this company and
"the success of this venture will have
for its effect the diversion in great
measvre of New England capital from
the West to the South, for this solitary
enterprise has done more to awaken
our people to the opportunities offered
by the South than all other attractions
that the last ten years have brought
forth.p Thus New England capital as
we'll as the vast accumulations Of
wealth in New York are turning
Southwark for investment. This means
an era of unprecedented activity. AS
illustrating the progress which is now
being made throughout the South and
which should stimulate the people of
every town in that section to renewed
energy. Florence, Ala, which seven
months ago bad probably not over $500
inhabitants and comparatively few in
dustrial enterprises, has since the first
of last September, been able, by the
energy of its business men, to secure the
location there of twenty new factories,
every one of which is either at work or
else its buildings are under construc-
ton, the aggregate cash capital of
these plants being S1,50O,GOO, and the
number of hands to be employed up
wards Of 5000, while about 1000 dwell
lings and business houses have been
commenced since the first of January,
and still greater progress is predicted.
While Fort Payne's development is
due to New England men and money,
this wonderful growth of Florence has
come almost wholly through the work
of Southern men. Among other enter
prises reported by the Manufacturers
Record for the week are $200,000 coal
and coke company at Birmingham;
rolling mill and pottery works at Fort
Payne; the purchase of 10000 acres of
Alabama coal land by New England
capitalists; Sl,000,000 coal mining
company in Arkansas; six cotton-seed
oil mills, three of them to be very
large, one at Baton Louge, La, one at
Charlotte, n. c., and one at Houston,
Texas; a 100000 furniture factory COM
pany'at Ashville, n. g., $50, 900 furni-
ture company, Lenoir, n. g.; 5000
spindle cotton mill at Concord, N. c.,
where a 100000 cotton mill and a ST.
100000 cotton bag factory were reported
last week; a cotton mill at Laurens, S.
c. In every part Of the South this re-
markable activity is seen, and every
day adds to the list of enterprises which
are destined to add so immeasurably to
the wealth of this whole section. One
town after another steps into line, and
as Mr.. Frederic Taylor, the New York
banker, said in his letter in the Manu-
facturers' Record last week, there is "a
continuous and unbroken strain of
what has been aptly termed the music
Of progress, the whir of the spindle,
the buzz of the saw, the roar of the
furnace and the throb of the locomo-
tive'n