The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1891-03-20
SOUTHERN SECURITIES.
Baltim0r0's Business Men Have
Great Faith In Them.
The South Has Learned to Manu-
fa cture Her Staple Products,
Iron and Cotton.

BALTIMORE, Nd, March 1t.-The Man.
ufacturer's Record of this week publish
es interviews with leading Baltimore
bankers as to the effect on southern Sc
curities of the late financial crisis follow
ing the failure of the Barings, of London,
and the outlook for southern investments.
Mr.. Alexander Brown, head of the long
established house of Alexander Brown
u Co., of Baltimore, founders of, and
associated with Brown, Shiply & Co..
LeaAop and Ppris and Brown Bros s
Co., of New York, and OF The branch
house and connections, that cover the
commercial cities of the globe, said:
"Our house some time since curtailcG
| its western business and turned its at
| tention to the south Us the the larger and
more profitable field for investments.
We have invested not only in railroad
| securities, but in many others, and arc
perfectly satisfied with them. During
| the recent worldwide financial dcprcs-
sion, southern securities felt the effect
much less than those of other sections.
The best securities always command
the market, and those who wish to get
the best at the lowest price can find them
in the south and in it alone"
Messrs. Jno. A. Hampton & Co., lead
ing bankers who have placed some mil
lions of dollars in the south for their
clients, said: "Railroad facilities in the
south have been inadequate in proper
tion to the business, which the wonder
fol er..s ---A1- - ssss1 vvvefv,i pruuuCed
and consequently the new railroads, which
have been built in producing sections
and where advantageous connections
have been made, have been generally sue
cessful. AS in all enterprises there are
| croakers who predict disaster, so we
| have heard the expression that there is
too much railroad building at the South,
This is not our opinion of the situation.
On the contrary we hold that the march
of progress has just commenced.
| Up to the past four years the southern
people have been depending, mainly, up
on other sections for supplies. What raw
material was produced was sent away for
manufacture, and even breadstuffs and
provisions were purchased at the North
and West. Now the staple products,
| cotton and iron, are, to great extent,
manufactured at home, and steam en-
gines, cars, agricultural implements and
many other products are turned out and
| find home market. We consider the
wonderful record of the past only is the
beginning of southern prosperity. This
year promises to show even better results
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in and the next decade will show most
astonishing increase in population. II
climate, soil resources and natural advan
tages, the south defies competition. Un
der these circumstances, is it strange th
railroad men are anxious to take advau
tage of the situation, and that their at
tention should turn to section whicI
promises such handsome results? Rail
roads in productive and improving sec
tions and a paying traffic awaiting all ex
tensions, and new roads from their com
pletions are recorded by business whicl
taxes them t0their full capacity.
Messrs. Fisher ana, Sl!!ssae.:.::- SS!se:: said: Csc
curities during the recent tinancfSsss = =
tress, suffered far less depreciation than
those of other sections. In Il general
| sense it may be said, that all classes
| of southern securities are worth more in
trinsically now than they ever have been,
and while there is no very active demand
for them at present, nor do we look for
one until the effect OF the late financial
depressions have entirely disappeared,
still the tone CT the market is healthy,
and there is every reason TO EXPECT a
steady if not rapid appreciation of val
ues. The prospects are that there will
be steady advance in the commercial
and industrial development throughout
| the southn