The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-02-12

Interest he has obtained IN Ine R1cH- |
mond Terminal is Il pregnant fact in it /
self and strong indication of the drift |
of eastern capital The Pennsylvania |
Central is manifesting considerable ap-
prehension as to what Gould means.
The combinations already made and
others in contemplation mean an im-
portant change in the conduct of south
western lines, and instead of providing
revenue for the Pennsylvania Central
as heretofore, will almost certainly divert
it to Virginia over the Richmond TerIni-
nal system.
1t is not only the drawing of the at
tention of such financial and railroad
magnates as Gould to the South, but Is
significant of the future of this section.
that capitalists of every class are look
ing to the Southland, and especially to
Virginia. for remunerative investments.
Business called us recently to Boston
and New York, and while in those great
centres of money and trade, the talk
about Virginia, her resources and future
was central topic OF inquiry and con>
yersation. At the hotels, in offices, on
the trains, and in fact almost every place
where two or three were gathered to-
get'ler Virginia., and particularly her
mineral wealth, was the theme upper
IN ,st in the minds of men of means and
bu stress. 1t amounted almost to a
sterreotyped eXpressioE-"Wait until
the snow melts away and the weather
settles, and there will he a | rye exodus
OF prospectorS from the East to Viz
ginia" The people there have had all
kinds of literature placed before them
and have had reports from prospectors
who have been through the South with
their eyes open. and the conclusion has
been reached that Virginia possesses the
most promising field for enterprise and
capital They give this State the pref
erence, by long odds, over Tennessee,
North Carolina, Alabama, and indeed
every other Southern State, and yet
| this from only partial information. AS
we told q number of gentlemen with
! whom we talked they as yet knew com
paratively nothing about the resources
| of this section of the State. If they
would take the time, determine to make
a practical Invest igation, they would find
more mineral wealth and more advan>
| tages for utilizing it within q radius OF
| thirty miles around Clifton Forge, than
they could discover In any similar area
of territory on the continent. Even our
own people have very imperfect idea
Of the natural resources of the region
named Only those who are Interested
! or have a desire to inform themselves,
can give an approximate estimate OF the
wonderful mineral district comprised in
! the area we have referred 10. and even
| they cannot tell the half.
| If we are not greatly mistaken, there
will be an active inquiry and personal
investigation this spring. Millions of
Eastern money now await Investment in
| just such properties as are located in the
| Clifton Forge and COyington district.
| Confidence is fast returning IN financial
circles Instead of tight clutch on the
money bags, inquiries are being made
for investments. The fright is over the
night mare has disappeared, and now
! capitalists are looking out for safe and
remuneratiye places ia invest their sur
/! plus means Western mortgages, NHefe
much of the surplus of Boston and New
England have heretofore been placed,
are being foreciosed, with the view to
Southern investments. Doubtful seen=
rites are tabooed. and deeply interested
attention is being drawn to Virginia,
where nature has been SO lavish In her
bestowments, and where fabulous for
tunes await capital wisely invested.
Properties in Virginia which, were
they in the East, wo4ld easily command
| millions, may be gotten for 4 ealig as
compared with their intrinsic yalue, ana
yet afford handsome return to their
owners. Capital is now looking after
such opportunities, and the early spring
will demonstrate that we have not over
stated or overdrawn the situation.
we, in short, look for unprecedented
activity ia all business enterprises AS the
spring opens, and especially in iron
properties and their related infere9ts.