Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1890-05-23

schemes in operation II there are env
they are located in the East. and mo- one
can be hurt 10y them who cares to make an
investigation. Those who invest their
money without looking into the epterprisa
probably deserve to be swindled. and lao
yond doubt there are schemes being float
ed IN which there is little or no merit.
LAND COMPANY FRAUDS.
The principal frauds now being parro
trated upon the South and investors in ,,a,,.
towns is through the establishment of fac
tories with old and unimproved macbiper,
a land company induces some eastern con.
cern to put up plant in a new town. tai
ing some Of the stock in it in order to keer
its promises to investors, and the eastern
man in a number Of cases fits nm the rlaco
with machinery that has been purcbased
cheap and is incapable Of turning ont 6rst.
class goods. How then can these institu-
tons hope TO compete with the West and
East in the manufacture of goods
Captain II. :. Chamberlain. who repra
sents the Cooper Hewitt interests in this
section, though engaged in a little town lot
enterprise himself, told me that he did NOT
know now the excitement now pervadipg
the industrial south would end. 1--WE have
too much OF it, he said. Prices have
been put up too high and am afraid the
system OF inllation will retard the perma-
nent development of places naturallv ftted
for Improvement"
Captain Chamberlain is the president oe
an iron and land company in which NJ.
Abram S. Hewitt is Interested and iust
now is engineering a sale of town Iots at
lockwood, about 20 miles from Cbattanoo-
ga. lockwood is already established INT
but as Mr. Rice, Of Fort Pavne fame
swooped down five miles from there and
Graded Cardiff, the lockwood people da-
termined to get up "a boom in sefpreserva-
ton.
WHERE Is THE POPULATION COMING FROM .
If we had Castle Garden or n Lor,,o
office out here these new aspirants for mn.
uatlon might with reason expect to real,,a
the expectations or representations of tba;r
projectors, but until a bona fde populatinn
comes this way it is difficult TO see where
the necessary number of citizens are Ia ba
obtained to make so many cities.
The location Of Fort PAYNE reprasants
the situation in and about ali the nov, ha,.,,
towns. They all have piles of rock con
siderable ledges of ore and some coal TLa
men employed on the furnaces are coloraJ
even to the superintendents, as rule ond
the lack Of skilled labor is deeply deplorad
The colored man. though is well suirad tn
furnace, and can stand it better prohobI,.
than the white man, and he is less likely to
enter into organizations and po unou
strikes. The Cheapness of labor * ana Of
the great advantages the South has. and
when manufactures begin eo turn ont frst.
class goods there will be no need for il to
purchase in the East or West. With timher
everywhere available, all the furniture in
tins section Of the South comes from the
Northwest, and the optimistic promoters
declare that in few years the Soutb will
manufacture all her own furniture and
crowd the Michigan factories TO the wall
A SOBER ESTIMATE.
1--WE do not expect to sell to the eptira
country, the head of a recently established
manufactory said to me, but we will nro.
duce all the South needs and keep the mon
ey here that Is annually going into the
North and West. We have everything we
need here to make what we require. and
ere long the country will he so populous
that all our resources will be taxed to the
utmost to supply the demand. While ali
tins excitement in the founding of new
towns Is going on we are hard at work and
producing substantial results. The excite
ment VIII die out pretty soon, but do not
think that the consequent. depression will
he serious enough to effect trade iniurious-
ly. Somebody will get hurt when the tide
recedes, but it will be the Spectator and
not the permanent investor The men von
now see bowling about town lots are in a
certain degree gamblers They are the
men who would play the horse races or
gamble in stocks. More money is to be
made now in specializing in real estate val
ues IN the South than Wall street promises.
and as matter of course Spectators turn
this way. Values are high here, it is true.
and the last man who holds the bag will
md 1t empty, possibly. These new town
sales are not correct exponents of the real
condition of things; they are merely the
crests of the waves of prosperity rolling
southward, and underlying the apparent
imitation is substantial Advancement. We
must and will build up and immigration
will trend this way in numbers which will
warrant the establishment of enterprises
such as we are putting up now. No real
investor can lose his money here if he is
reasonably careful and iudcious and all
we want is investigation