The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-12-30
DIXIE'S SOLID PROGRESS.
THE MANUFACTURERS RECORD
REVIEWS The YEAR.

Great Activity and Prosperity Shown.
A Gain of S27o,oOo,oOo in the As
sessed Value of Property-An In
crease of 1o4 in the Number OF
National Banks.
BALTIMORE, Nd, Dec. 29.-The Manu-
fdcturers' Record publishes in this weeks
issue its annual review of the industrial
progress of the south for 1890, showing
great activity and prosperity throughout
that section. The total assessed value of
property for 1890 is nearly s4.50O, 900. COO, a
gam of s27O, OOO, 900 over 1889, and of
81, 6OO, 600 900 over 1880.
The number of national banks in the south
Is $50, with an aggregate capital of
$50, 793, $50, an increase during the
year of 104 banks and SO, 49,. 900 in capital
Ten years ago the south had go national
banks, with total capital of s45, 40S, sS5.
According TO the report of the United
States comptroller of the currency the net
earnings of all southern national banks for
the twelve months ending Nov. 80, 1890,
were $40, 523, 793, or an average of 1155 per
cent on the total capital. Only two
southern national banks failed during the
year. and both OF these failures were due to
to the government report.
RAILROAD BUILDING.
During the year 2,499 miles of railroad
were built in the south against 1895 miles
in 1885, The gross earnings of all southern
railroads for the first eleven months of 1890
were 500, So, SIT. against 800. 900, 40 for
the same time in 1889. an increase of $10,~
604, 049.
The total value of the foreign exports
from all southern ports for the first eleven
months of the year 1890 was $266, 293, 900, an
increase of s24. IA, 010 over the correspond
ing months of 1889, while the increase in
the balance of the country was only
81, S34, AT, the increase at the southern ports
being five times as great as the combined
gain at all other United States ports
The production of pig iron for the year
foots up about 1850, 900 tons. or a gain of
395, 900 tons over 1889, or S30, 900 tons over
1883, and of more than LOCO, 900 tons over
1887.
PRODUCTION OF COTTON.
The total production of cotton for the
last six years has been $4,000, 900 bales,
won tn. including the value of the seed sold,
about 81, 800, 00o, 900, or an average of nearly
S400, 000, 600 a year. The consumption of
cotton by southern mills was $40 AIS ales
last year, against 266, 900 bales in 1885, a
gain Of over 100 per cent.
During the year 8, 917 new manufacturing
ent arprises, covering every variety of in
dustry from tack works to steel works,
we're organized in the south, making a total
during the last five years of over 1900
new enterprises.
COMMENTS OF THE RECORD.
Commenting upon the statistics of the
south's progress, the Manu- acturers'
Record says: "lhe 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 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 hand
some returns upon their capital; agricult.
ural 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.
NOT A YEAR OF BOOMING.
''The past year has not been one of boom
| ing nor abnormal development, but it has
been essentially a period of steady growth
| upon a solid foundation. The south
has been put to severe tests dur.
| ing the past year, but it has
| stood them all without strain or injury.
| and stands better in the eyes of the world
| than ever before. An abundance of every
| thing that fields, forests or factories weld
| has given the south ample resources with
| which to stand all strains and to meet all
demands