The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1891-01-07
IN THE LEAD.
The Rapid Strides Made IN the Southern

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States.
BALTIMORE, Dec. 31.-The Manufac.
turer's Record publishes in this week 8
issue its annual review of the industrial
progress Of the south for 1890, showing
great activity and prosperity throughout
that sectoion.
The total assessed value of property
for 1890 is nearly s4,50O,OOO,OOO, gain
of S270,OOO,0OO over 1889 and of $780,
100000 over 1880.
The number of national banks in the
south is 500, with an aggregate capitol
of $500, 1853, ,705, an increase during the
year of 1O4 banks and $40, 1855, 900 capi-
tai. Ten years ago the south had 22O
national banks with a total capital of
S45, ,40S,9S5. According to the report of
the United States comptroller of cur
rency, the net earnings of all southern
national banks for the twelve months
ended Nov. 80, 1890, were S10,523, ,793, OF
an average 11115 per cent. on the total
capital. Only two southern national
banks failed during the year, and both
Of these failures were due to dishonesty
in management, according to govern
ment reports.
During the year 2,499 miles Of railroad
were built in the south. against 1896
miles in 1889. Gross earnings of all
southern railroads for the first eleven
months of 1890 were S100,694,517 against
800, for the same time in 1889, an
increase of $10,604,047.
The total value OF foreign exports from
all southern ports for the first eleven
months of 1880, was S268, ,293, 900, an in
crease of S24, ,141 ,O1O over the correspond
ing months of 1889, while the increase
in the balance of the country was only
81 1884 AT, the increase at southern ports
being five times as great as the combined
gain at all other United States ports.
The production of pig iron for they
foots up to about 100000 tons, gain
of 39o, 600 tons over 1889, of $4,000 tons
over 1888, and of more than 100000
tons over 1887.
The total production of cotton for the
last six years has been 100000 bales,
worth, including the value of seed sold,
about $2,3OO,0O0,0O0, or an average of
nearly S40O,OOO,OOO year.
The consumption of cotton by south
ern mills was 549,4S7 bales last year
against 266,OOO bales in 1885, a gain of
over 100 per cent. During the year g.
917 new manufacturing enterprises, cov-
ering every variety Of industry from
tack works to steel works, were organ
lied in the south, making E. total during
the last five years of over 1900 new en-
terpriseS.
Commenting upon the statistics of the
south's progress, The Manufacturers
Record says:
The past twelve months have been
period of unprecedented activity in every
department Of industrial and commerci
al enterprise in the south. Every factor
in business reflects general activity. The
railroads have been crowded with freight
beyond their capacity. The banks have
transacted an enormously Increased vol
ume of business and have earned hand
some returns upon their capital; agrl-
cultural and manufacturing products
have been put forth in great quantity,
and there has been tremendous flow of
capital from every direction to the south
seeking investment. The past year has
not been one Of booming nor abnormal
developement, but it has been essential
ly period of steady growth upon solid
foundation. The south has been put to
severe tests during the past year, but it
has stood them all without strain or IN
jury, and stands better in the eyes of the
world than ever before. An abundance
of everything that fields or factories
yield, has given the south ample re-
sources with which to stand all strains
and to meet all demands.