The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-01-29

Mr.. James l.. Lombard and party, OF
Kansas City, who have been making a
hurried tour of inspection of three or four
Southern cities, including Memphis, re-
turned here Sunday, and left for home
last night.
During their stay here the party of cap
italists were looked after by Mr.. L. II.
Thomas, with assistance ard courtesies
from Mr. Frank White and other enter
prising citizens.
An APPEAL reporter, detailed to watch
the movements Of visiting and local cap
italists, went in search OF Mr.. Lombard
yesterday. After waiting for half an hour
while the gentleman and his associates
went through an elaborate dinner, spiced
with fine wine, the reporter was rewarded
with an Introduction. Preliminaries were
laid aside, and sally made upon the BUSH
ness in hand.
II am in no position just now TO give
ont anything for publication" said Mr..
Lombard, "and / presume that is what
you desire me to talk for. / shall return
here in few weeks, at which time, il
matters turn out rs | anticipate, ii will be
agreeable TO see aud communicate freely
with you"
Mr., Lombard is president OF the First
National Bank OF Kansas City, and vice.
: president OF the Lombard Investment
Company. The latter corporation has a
capital OF 81 ,250,0 GOO, and surplus of
100000 II has business connections
with many OF the large financial concerns
OF the East, aud during the year 1883
loaned Sl0,000,OO0. 1t has placed loans
aggregating about $50, 100000 since ii be-
gan business.
I he same party OF investors was at Chat
tanooga on Friday last. Having completed
survey OF that city, and determined
upon what would be done in that city,
Mr.. Lombard felt at liberty TO talk, and
did so with Iimes reporter rs follows
My object in coming 10 Chattanooga
was 10 see what the outlook here is for
opening branch house. To be frank
about It, like the Southern people. |
like their hospitality. When Eastern
capitalists visit Kansas city, often have
them stop with me, and, while | do not
claim to entertain my friends elegantly, |
throw open the doors and give them the
full privileges OF my house. When 20
down East ! find so much iormality that
often wish some OF the Southern hosp.
mity could find its way into the Eastern
cities"
The gentlemen made the Chattanoogans
feel good. and gave Knoxville and Nash
vile a rap by the following frank state
ment:
81 class Chattanooga along with such
cities in the North as Duluth, MINI,
Council Bluffs and Sioux City, Ia, Topeka,
Kan, and Lincoln. Neb. Duluth is located
right IN an iron region, but she has too
many CntCrprisng places around her to
ever become a great city. Chattanooga is
situated differently. Knoxville is not an
cn,crprising city. From what have heard
Of Nashville, Il Is not an cnterprisng
place. There are no towns in Northern
Alabama or Northern Georgia that can
compete with you.
Ia answer 10 the reportorial question,
"Will YOU open branch house hcre?"
Mr. Lombard said: "Well, that is a qucs-
ton | cannot answer yet There is one
: thing in the way and that is your usury
law. Ii you had a conventional interest
rate OF $ per cent / would say yes,
with emphasis. Ii your Legislature will
make per cent. legal, We will come to
Chattanooga only too quickly. cannot
say wha, We may do anyhow. ] have been
NO iavomby impressed with Chattanooga
that believe We could do good business
here, and ~ u rule there are very icwmen
who plead usury. They cannot afford TO.
The only thing In the way Of getting all
the capital Chattanooga needs is the legal
rate Of interest which is only per cent
II we were 10 open a branch house in
Chattanooga, We could do for your city
what We have done for Kansas City-gct
la al hal una N
demand for. We want 10 come here, aud
II your Legislature makes the conventional
rate Of interest even $ per cent, the LON.
bard Investment Company will soon be
represented in Chattanooga"
Tux ArrEAL has been assured that in
the event the present Legislature cnacts n
law establishing conventional rate OF In
tercst, even at the rate Of s per cent, rs
MIR Lombard suggested, the investment
company will at once opcua branch house
here.