The Democrat. (Scotland Neck, Halifax Co., N.C.) 1884-1896, 1890-01-23

udLutIi5 tue pAiCc LOL A4CA 10 1-e
North. Had General To0mbs said,
when he was reported to have said
"he would call the roll OF his slaves
at Bunker HILL" instead, "he would
bring iron from the slave States,
through Pittsburg, aud lnderaelI
Pennsylvania at Bunker HILL he
would have made quite as surprising
and a much more truthful remark.
For just that thing has been. done
The magnitude Of the iron business
in the South IS shown in the operas
tions OF the Tennessee Coal and Iron
Company. 1t has 4 capital OF $40,
900, 900. From It's five furnaces in
blast in 1897, 1t turnel out more
iron than the Thomas Iron Company.
of Pennsylvania with twelve fur>
naces. And it is now adding, or
has since then added, FIVE more fur
naces and steel works. 1t ships Its
product to Canada, California, and
every Intervening State and Terri
tory.
1t is an axiom in our new iron
region that An iron furnace is like
godliness Have that, AMI all the
rest shall be added unto YOU !" FROM
this theory tie "magic cities of tee
South have spung, Of the growth
of these, let the story Of Birmingham
give proof. That city was founded
in about ~.
MARVELLOUS GROWTH OF A SOUTHERN
CITY.
With $4,000 the Elyton Land
Company composed of about twelve
Southern men, bought 5000 acres
Of land. and laid off q city. There
were mountains of iron and ceres of
coal adjoining and this was the
basis for the city. When the first
sale of lots occurred, the auctioneer
got lost in the wilderness about dusk,
and discovered by his own placards,
which he accidentally stumbled over,
that he was on the corner of Sixty
fifth street and Fifth Avenue. The
$4,000 of paid-in capital was con
verted into 100000 of stock, mak>
ing 1000 shares Of 500 each. On
this capital, $5,5OO,0O0 in cash
dividends have been paid. Every
dollar invested was once worUn ST.
600 in open market, and every dol
lar is now worth $25, 900, and more
than $4,000 in cash dividends have
been paid on each dollar invested.
In one year the taxable value of
Jefferson county, in which Birming-
ham is located, rose $14.O00,000.
Land has sold at $4,000 a front foot.
A man worth $4,000 started home
to cost 81 800. Before he had finish
ed it be was worth $500,000, enlarged
his plans for his home, and paid
$4,000 fO- the hardwood finish OF
its facings and staircases. Such q
tremendous hive OF industry as Biz
mingtam is can hardly be found
elsewhere 10 America. 1t is notable
that the projectors-the men who
have made fortunes in this city
are Southern men, without an ex
ceptlon.
The iron furnaces, better thar
building cities, have opened the way
to collateral industries. In 1870 the
South mined but 3,193.10O tons o.
coal; in 1880, 6,049,471 tons. II
1887 she mined Ia 100000 tons. Ii
1880 her productlon of coke was
299,43O tons in 1885 (the last fig,
ures I have IN mlnd) 6O3,lO5 tons
Not less, certainly, than this de
velopment Of coal and coke have tht
iron furnaces given stimulus tC
smaller iron Industries. The cos
Of shipping so heavy thing az iror
to the North, to be made into gins
plows, stoves, and like heavy goods
and tae cost Of shipping them back
tempted capital into shops and fac
tories. Mr.. Perry, a large stove
maker of Albany, n. Y, who lately
established immense stove works II
Tennessee, stated in print that ht
saved 800 ton on freight by sup
plying his Southern trade from
Southern works. Many factories
have found the freight-saying tht
fullest percentage of profit they
needed. Rolling mills were the frs
industries that followed the furnaces
Gins and cotton presses were close
to these. Plows and cotton plantert
followed. Then came stoves. hollow
ware, nails, piping, and sash stuff
After these came bridge works, en-
gine and boiler factories, chair