The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1890-03-13
A BRIGHTER OUTLOOK FOR THE CITY
OF CHARLESTON
Heavy Investments by Money Kings From
from the North-The Owners of the
Carolina, Cumberland Gap and
Chicago Buy Large Water
Fronts.
Charleston World.7

NNA>~. ANoSSAA w NA@A
There was never night that was not
followed by day, nor cloud that the
sun did not dissipate. 1t seems that
Charleston's brightest day is coming
and is close at hand.
The air was filed with rumors yes
terday of all sorts Of transactions, but
| the town was not full of men who
would tell what they were all based
upon.
The fact is, that very wealthy bank
er has seen Charleston's undeveloped
advantages, and, seizing time by the
forelock, has invested money here, and
expects to invest considerably more.
1t was learned yesterday from q
source that cannot be doubted, that ar
rangements have been made which
would, when completed, result in the
transfer of the Union Cotton Press and
Wharf property to Northern capitalists
who have a gigantic scheme on foot,
the details of which have not been
given to the public, nor are they likely
to be given until consummated.
All that can be said now is that they
propose to build the East ShcTe Terlni-
nal.
They have but little to ask of the
city, and that little is only to authorize
the opening Of Concord Street as for
merly surveyed.
The road will be run in the interest
of all the railroads, in the city, and in
the interest Of the city Of Charleston
itself.
The compress and warehouses will
be utilized for the road, and for the
storage of freight; probably for union
depot, but those are only surmises.
From hints dropped here and there
it is certain that very large amount
of money is to be expended here; a
much larger amount than Charleston's
own capitalists could have afforded to
put into such scheme.
The gentleman who has made the
negotiations with the company has
plainly stated that if bis agent should
at any time telegraph him that there
was more freight here than could be
handled without delay by the Clyde
Line, he would have ten steamers
down here in couple of days if they
were needed.
It is also vaguely hinted that this
gentleman proposes, in the course eff
time, to have a line of steamers Of his
The reason given by those who know
for net speaking On the subject is that
there are several parties in Charleston
who could, and most probably would.
block them, or seriously injure their
chances of success.
This is the first time that large
amount of Northern capital has sought
investment here in anything else than
phosphate mines, and it is considered
as only the beginning of the end. The
croakers have already endeavored to
infuse some of their poison into the
ears of the capitalists about a "dead
town, and mo chance to do anything,"
and all such stnfc. These gentlemen
have been travelling all over the South,
and express themselves better pleased
with Charleston than with any city
they have seen. They think Charles
ton ahead of all rivals, and will attest
their faith by their money.
These gentlemen are, tits understood
Messsrs. Neil Macdonald and A. Gala
CHER. Mr.. Macdonald is very wealthy
man, and has control of as much credit
as any broker in the metropolis. He is
said to be practically owner of Carolina,
Cumberland Gap and Chicago Rail-
road, and Mr.. Gallagher is the presi-
dent. He is in the banking house of
Macdonald. This road proposes to
come to Charleston in one way or an
other, but it will after awhile. The
road wants terminal facilities, and will
do all in its power to boost up the city
and start the ball rolling.
The only step taken so far is the sale
of the Union Cotton Press and wharves.
These wharves consist of four piers, all
we'll built. 1t is one Of the most exten-
sive wharf properties in the city. The
property is very highly valued; the
exact value cannot be determined.