The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1890-12-20


plans and purposes OF the proposed
organization.
Az meeting hold in that city for tha
purpose OF discussing the subject, MIR.
j. Frank Supplee, in advocating the
promotion of tho industries OF Balsi-
more and the establishment. O new ones.
made number OF statements which
have been challenged by citizens Of
Roanoke.
Tho parts of hr. Supplies remarks to
which exception is taken are containea
in the following extracts:
"The drain of capital from our CITY to
the boom towns and paper cities of tho
South is being seriously felt. An obser-
want and experienced correspondent
sent there TO investigate reports thas
GO per cent. OF the foreign capital that
has been invested in the torritory OF
Southwest Virginia, extending fross-
Roanoke to Bristol, oamo from Balti-
more. New York, with hor customary
shrcwdness. il CONSPICUOUS by her alb
sence, whilo Philadelphia, baltimore
| and the West arc furnishing tho lambs
who arc TO be- shorn OF thcir golden
| fleece to mako comfortable tho land
SPECTATORS Of Virginia this winter. A
report this week shows $1,000, 900 for
the month ending November was in
vested by outsiders in this territory
All OF these booms arc based upon the
ono advertised ioundation-tho laea-
ton OF new manufacturing establish
! ments in their midst, bringing popula-
tion and distributing wages
Tho foundation OF all theso Irovo-
mcnts Is FREQ land to manufacturers
and IN augmentation of from 80 to 3s5f
per cent OF their capital By tho local
Improvement company. Within tho
past ten days SIX reputable establish
ments, employing an average of fifty
persons each, have signed contracts to
remove their plant from our city. The
time of action has arrived. We may
'resol'ste until tho COWS como home
about ofS geographical position. tor
niinal facilities aud sulubrious climate i
but tho cXalpS will. continue until
more intelligent S,lSA, " titsl Of manu-
featuring is developed and our citizens
awake To an investment OF thoir means
here, rather than in wildcat ventures In
town lots and mining speculations."
i!UeINRsS MGN INTERVIEWED.
In order to ascertain II these state
ments wcrc facts reporter interviewed
a number OF business mon yosterdny.
rect statements had been given out te
the world.
lion. III. r. Trout, presiden. Of the
First National Hank, said. II can not
understand why these Statements should
bo made. comparatively littln Halti-
more capital is invested in Southwest
Virginia, and al that has boon, 10 my
knowledge, has thus far returned n
handsome profit 10 tho investors, 1t
In, F,, q L
has been the average re urs, to invest.
ors from baltimore. OF course. tho
balance OF exchange is all against the
North, bat thnt is natural. am In v
position 10 know, and can assert that In
not one instance mas a capitalist froua
Baltimore suffered any loss In this seq
ton. All these statements, when made
by responsible parties, have tendency
To make capital more timd than is now
Is, but when the resources OF Southwest
Virginia are investigated, that tinidity
will disappear"
AIR. K:Ip TALKS.
Mr. Francis Il. Kemp dcnicd the
statements Of DIR. Supplea. baltimore
is a comparatively light investor in
Southwest Virginia property." said he,
and the monty now going into real
estate here is almost exclusively profits
derived fioln previous Investments.
baltimore has done less for this section
than any other city in the north; Plila-
d@lphia alone has lagGsted SEQ for oyorY
81 pas N by Iialtimorinns. It Is true
that 81 ,000,O0o Was put into this section
during November, hut the percentages
from baltimore YVES quite insignificant
] that city wishes - let so her hold
ings III Southwest Virginia she
viii find plenty OF residents of
this section willing and anxious
TO pay all she has put in, togothar
with per cent interest and Il hang
somo profit for these holdings. Wo
would then regard them as handsome
Investments. lately bought out the
interest OF y baltimore capitalist in a
Southwest enterprise, paying him SIS
for every dollar he put into tho bust
ness just thveo months ago. And the
history OF that transaction is tho his
tory OF the largo majority or Baltimore's
speculations. That city is not invest
ing largely, but by rapidly turning ovor
their holdings it's capitalists arc realiz-
ing big profits out of Southwest yir-
GINA"
DIR. PARSONS VIEWS.
Dr. +. 4. i'arsopS said: $50 far from
it heing truo that sixty per cent. of tho
capital invested in Southwest Virginia
comes from Baltimore, doubt ii six
per cent. comes from that city. Outside
of Bedford City, do not know of any
place in this section claiming TO contain
any amount Of Baltimore money.
"One thing wish To say particularly
| is that the vast amount OF money which
| has developed Southwest Virginia has
come from residents of Virginia itself
money which has heendng up out of the