The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-08-30


ness will be better, money easier and
things brighter generally in Roanoke
in short time. Money is coming in
the city from various sources, and the
banks have enough now to meet the
current demands
The interviews printed below with
representa- tives of building and loan as
sociations, real estate men, bankers: =.
others identified with the business in
forests, show that capital is coming into
Roanoke in the shape of numerous largo
loans and payments on property pur-
chased las3ysar by out-of town people.
The indications are that the inflow of
money from these sources will greatly
increase within the next two months.
The following al the interviews:
Vice-Prosident Eddy, of the Norfolk
cnd Western Railroad Company: Tho
outlook for bus ness in every line, not
lily in Virginia, but all over the United
States, is improving daily. Upon tho
immense crops new harvested, the move
mont of which will continue COR the next
eighteen to tw1nty-four months, the
farmers profit is already assured. The
prospects for increased business and
earnings for the railroads of the United
Sta es improve daily, ond tho present
outlook seems to be that the railroads in
the United StHtes will be taxed to their
utmost to move the crops of cereals and
cotton to tho scaboard 70. export.
The United States Is exporting grain
at tho rate Of five million bushels per
week, and the resent crop of grain as
sures all the grain. carrying reads a
large business for tho con ing eighteen
or twenty months. Thif means in
crease OF &c uipment, and therefore busy
car and LOGON olive works, and for next
year large requirements of rails for re-
newals. New railway construction al
Ways comes when tho country is pros
pc Gus.
The cotton crop that is now being
gathered will give the railway lines in
the South all the business they can han.
die, and The general Improvement in the
iron market means improvement and
further development in Virginia and the
South.
Any one that reads the commercial
and financial journals cannot but sec
that the mprovementin all lines of bus
mess is general throughout the entire
country, and the effect Of this general
Improvement will be felt in the South
as we'll as in the North and West.
The whole country is prosperous and
In sound financial condition. The
clouds that threatened tt, finances of
the world last fall have rolled by, and
every true American has reason to te
proud of the record the United States
has made in finance during the past
year. Tho gold our nciehbois on the
other side needed so badly, and that our
country was so we'll ablo to let Them
have, IL now flow back in return for
tho food products we arc sending them
j. II. Cutchin, agent for the Eastern
Building and Loan Assc ciat on, of Syra-
cuse N. y, said that within the past
fifteen days his company had loaned
$4,000. lie expects to loan sos, 900 du-
RIM September and $4,000 n month
afuer that. He says the prospects all
point in that direction. In regard to the
sales of real est. tie last year, Mr.. Cutchin
informed The reporter that nearly all the
sales nade by his firm last year were
with people out of the city. and tho
notes which are now falling due are be-
ing met promptly and in some instances
are being anticipated.
Edward White, agent for the National
Mutual Loan and Building Association,
OF New York, says that during the
month Of July he loaned $4,000 and
during Ausus6 over $4,000 He ex-
poets Ito loan $50, 600 during Septemb Der
and October, The company accepts
Roanoke real estate as security and re-
cards it as good security. too.
large number of the leading real
estate agents were interviewed, the re.
suit showing that from ono. half 20
three-fourths of their sa es a It wear
were made with out of town people. In
nearly every instance the notes that are
falling due are being met promptly and
some arc even being anticipated.
w. L. W:nci secretary and treas
urer Of .he Peoples Perpetual Loan
and Building Association of Roanoke,
says that his company has loaned
out about $4,000 ibis month and that
applications have been accepted for
about s25, 900 more. Most of this money
is coming in here as an investment, and
M ,st of it from people who have dealt
in Roanoke before. a majority of the
oney he is handling comes from people
out OF the city, who regard it as SPLEEN
did investment.
j.. ). Groves agent for the Peoples
Building, Loan and Saving Association,
OF Geneva, N. Y, infOrmei the reporter
that Although the agency here is new
one, they have already made two loans,
one of 81, SEQ and the other amounting
to $4,000. and they have promised to
make other loans within the next ten to
twenty days on $4,000 worth c. stock.
The Iron Belt Building and Loan
Association being national in its charac-
ter, is now represented Ivy nearly hun.
dred branches. The instalment stock
subscribed 10 date reaches nearly
81, 200, 900, and the paid'up interest bear
ing stock S11I,4OO Its loans reach
sl5O,O0o. In spite of the general strin.