The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1891-01-08
IN THE LEAD.
The Rapid Strides Made in tho Southern
States.

The Rapid Strides Made in tho Southern
States.
BALTIMORE, Dec. 31-The Manufac
turer's Record publishes in this week g
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 94,5OOOOO,OOO, gain
of $27O, 100000 over 1889 and of $1,000
100000 over 1880.
The number of national banks in the
south is $50, with an aggregate capitol
or S2OO,I63, 1Oo, an increase during the
year of 1O4 banks and $10,G35 600 Capi-
tai. Ten years ago the south had 22O
national banks with a total capital of
$lo, ,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. 30, 1890, were $1O,523, 793, or
an average lll2 per cent. on the total
capital. Only two southern national
banks tailed during the year, and both
OF these failures were due to dishonesty
i'll management, according to govern
ment reports.
During the year 2,499 miles of railroad
were built in the south. against 2,296
miles III 1889. Gross earnings of all
southern railroads for the first eleven
months OF 1890 were 500. .S9I ,5I7 against
SW,2!W,47 for the same time in 1889 an
increase of S1O,60iOI7.
The total value of foreign exports from
all southern ports for the first eleven
months of 1890, was $s26S. .293 600, an in
crease of S2l 141 ,OlO over the correspond
ing months of 1882, while the increase
in the balance of the country was ONLY
1854 AL, 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 the year
foots up to about 100000 tons, a gain
of 900 tons over 1889, of $50 600 tons
over 1888, and of more than 100000
tons over 1887.
The total production of cotton for the
last six years has been 420OOOOO bales,
worth, including the value of seed sold,
about $2,3OOO0O,OO0, or an average of
nearly $4OO,OOO,00O a year.
The consumption of cotton bv sou. H.
ern mills was 549,4S7 bales last wear
against 266 900 bales in 1885, Il gain of
over 100 per cent. During tho year g.
9l1 new manufacturing enterprises, COW
erlnS every variety OF industry from
tack works to steel works, were organ
lZed in the south, making a total during
the last five years of over 1900 new Ell
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 ever,
department of industrial and commerce
al enterprise in the south. Every facto
III business reflects general activity. Th,
railroads have been crowded with freigh
beyond their capacity. The banks hav,
transacted an enormously increased vol
ume OF business and have earned hand
some returns upon their capital; agr
cultural and manufacturing products
have been put forth in great quantity
and there has been a 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 ;t has been essential
ly period of steady growth upon a 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.