Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-12-30
THE GREAT SOUTH.
ITS REMARKABLE INDUSTRIAL PRO-
GRESS DURING The DYING YEAR.
Unprecedented Activity In All Lines OF
EfOrt-A steady Growth-The
Facts and Flgures
fBy Telegraph 70 the pisps.cn.l

BALTIMORE, Mo-, December 2o-The
Manufacturers Record publishes in this
weeks issue its annual review Of the in
dustrial progress OF the South for 1890,
showing great activity and prosperity
throughout that section. The total as
sessed value of property for 1890 is nearly
81 SOC, 900, 600, q gain OF S270, 600 over
1889 and Of Sl,6Oo.OOO over 1890.
THE NATIONAL BANKS.
The number Of national banks IN the
South is 500. with an aggregate capital Of
T90. .973. .957, an increase during the year of
104 banks and $40. 935 900 III capital Ten
years ago the South had but 20 national
banks. with a total capital of only S45,-
40S. 9o5.
BANK EARNINGS.
According 20 the report of the United
States Comptroller of the Currency the
net earnings of all the southern national
banks for the twelve months ended No
yember 30, 1899. we're so. .j23,793. or on
average Of III per cent. on the total capi-
tai
Only two southern national banks failed
during the year, and both of these failures
were due TO dishonesty in tho management
according TO the Government reports.
RAILBoADs.
During the year 2,499 miles of railroad
were built in the South. against 1926 miles
in 1899 The gross earnings of oil southern
railroads for the first eleven months OF
1890 were 500. .s9. SIT, against 800, ,290, ,470
for the same time In 1889, an increase Of
$l0,604. .047.
FOREIGN EXPORTS.
The total value Of foreign exports from
all southern ports for the first eleven
months of 1890 was S2G8, ,293 900, an increase
Of S24,I41,0i0 over tine corresponding
months of 1889. while the increase in the
balance of the country was only "a, 1884. Az,
the increase at southern ports being five
times as great a. the combined gain at all
other United States ports.
PIG-IRoN.
The production Of pig-iron for the year
foots up about ]. 100000 tons, or a gain Of
395. 900 tons over 1889: of $780, 900 tons over
1883, and Of more than 100000 tons over
1887.
The total production Of cotton for the
last six years mas been 42,000,0O0 bales.
worth. including the Yalue of the seed
sold. about 50 300, 900 900. or an average of
nearly Si00, 600 600 year. The consump-
ton of fcotton by southern mills was 549, 47S
bales last year. against 266, 700 bales in 1886,
q gain of over 100 per cent.
NEW MANUFACTURING ENTERPRISES.
During the year 3,9l7 new manufacturing
enterprises, covering every variety of in
dustry from tack-works % steel-works,
were organized in the South, making a to-
tai during the last five years of over 10000
new enterprises.
UNPRECEDENTED ACTIVITY.
Commenting upon the statistics Of the
South's progress the Manufacturers Record
says:
The past twelve months have been a
period of unprecedented activity in every
department OF industrial and commercial
enterprise in the South. Every factor in
business reflects the general activity. The
railroads have been crowded with freight
beyond their capacity the banks have
transacted an enormously increased volume
of business, and have earned handsome re-
turns upon their capital agricultural and
manufactured products have been put
forth in great quantity, and there has been
"A tremendous flow Of capital from every
direction to the South seeking invest
ment.
STEADY GROWTH.
"The past year has not been one Of boom
inc or abnormal development, but IL has
been essentially a period of steady growth
upon solid foundations. The South has
been put 10 severe tests during thspast
wear. but has stood them all without strain
or iniury and stands better in the eyes of
the world than ever before. An abundance
of everything that fields. forests, or facto-
ries yield has given the South ample re-
sources with which TO stand all strains and
meet all demands"