Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-11-18
THE PROSPEROUS SOUTH.
The Wonderful Activity Continues to spread
Despite Wall Streets
Furry


The excitement in Wall street, if Ion &
continued. would necessarily have an in
furious Influence upon all lines OF BUSH
mesa in al sections of the country, but
as trade. and manufacturing Interests
everywhere are prosperous, it is not
probable that the stock iobbing opera
tious Of New York viii have more than
O Temporary effect upon general BUSH
ness. Under any circumstances, though,
the South is i'll a better position to stand
even II panic than any other section.
1t has gathered; Dig crops that will az
gTegate i'll value for the year nearly
81 ,000 600, coo, its cotton alone. including
the seed, counting up this wear between
$3.50, 900 900 aud 500, 0C0, 900, every dol
lar OF which it will draw from the North
ara Europe. Its farmers are practically
out of debt, and many of them have a
good surplus; its manufacturing interests
are prosperous. and its railroads are
crowded with freight traffic. The whole
South is advancing rapidly, and if de-
pendent upon its own financial resources
could stand the strain far better than the
West. Bat the enormous shriukage in
stock values in Wall street will tend to
speculation to safer investments in
Southern development and manufacture
Ing interests. Che decline in twenty
three stocks on the New York exchange
since November / represents a wiping
out of 500, 900 900, aud the people who
have seen fortunes swept away like this
vii pre- FER to put their money elsewhere
in the future. The daily accumulation
of wealth in the United States is
enormous, and it must find q field OF in
vestment somewhere. Driven from Wall
stree: speculati0ns and no longer finding
any profitable openings in the West
as in former years, it must inevitably
turn to the South. thus, instead of
Wall streets furry !DjuriGg the South,
II Will help to drive a still larger volume
OF money this wcr. The past week shows
continued tiy.ty III the organization of
industrial enterprises and of town build
ing companies Salem, Va, leads off
with an appropriation by the several land
companies there of $500 GOO in cash 20
secure the establishment there Of roll
ing mill, cotton mill, cur works aud
other enterprises; 10 Buena Vista Il
81 GOO, 000 company has been organized
to build basic steel works, and three i'm
provenent and building companies with
an aggregate capital OF $500 600 have
been started in the same place; Glasgow
has organized a SlG0, coo car works COM
panv; Norfolk, three land Improvement
companies with capital of 500, 600;
Wheeling, W. Va. is 10 have new steel
works; at Vicksburg, Miss, a 5000, 900
phosphate company hns been char
tered, aud Ut Aberdeen, in the
same state, Il So 900 machine shop com
pany; at Algiers, La. q SIS, 00G brewery
will be built; Bessemer, Ala, has or
ganized S!00, goo pipe manufacturing
company; Baltimore, a 500 200 ear
company; Barlow, Fla, $780,
600 manufacturing company; Blacks
burg, S. c.. Il $40, 009 stove
foundry; Rusk. Tex, $500, 900
com pany 20 bulid an IRON furnace, and
Rogers, Ark. q $40, GOO ice factory.
These enterprises scattered all over the
South show how widespread is the act
lvtg that is seen. from Maryland to
Texas. without Asny fictitious specula-
tion or wild booruans the South is stead
lily pressing fort ard building new towns,
new railroads new factories tories and aI,:, fur.
of not fyitv a Nd rrosparify