The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-09-06
ROANOKE'S BUSINESS OUTLOOK
Discussed at the Commercial
Association.
The First OF the Series of Public Meet
inas Success-Encouraging Speeches
Made by Percy Clarke, President
Pechin, j. Allen Watts and Others.
street-paving to be Discussed Next
Saturday Night.

saturday Night.
| The rooms of the Commercial A.3o-
citation in the Exchange building were
crowded last night with some of the
most prominent citizens of Roanoke to
hear the discussion of the business
situation, with which the series of Sat
urday night general meetings was
opened. President Pechin occupied the
chair and started tho ball rolling with
a terso statement of the business out
look.
THE situation in Roanoke" said he
sis improving. Money is coming in
from the outside and marked i'm pro se-
ment is at hand. If Roanoke persevers
in the Same direction that character
lied her energies last fall, if she gets
in new manufactures and new indus
tries, the town will continue to grow.
This meeting is the first of series
which is intended to wake things up.
l want you gentlemen present tonight
to be toe bell wethers, to lead of the
flock in the right direction"
MIR. Pechin then introduced Mr. Percy
Clark, travelling correspondent of the
Washington Post. who delivered meaty
and graphic address, as follows:
Tho waves Of a returning tide of
prosperity arc already tapping the
shores of this great county. One
million Of gold came to us tho past
week; it is estimated that there are one
hundred and fifty millions of dollars to
come to us between this and the Is Of
December. Our surplus above last
years yield of all crops is estimated at
$1,000, 1000, 600, OF Sl625 per capita for
every man, woman and child Of our
population. Europe must have ESQ, 900, :
600 bushels OF grain. Our great and
glorious country is the only one on tire
globe that can fill the bins Of the mill
ions OF people who must have bread.
First let US consider what it was
that congcsted our c. numerical syst IN.
The financial earthquake that m ade the
bullion in the great Bank of England
rattle as small coin, touched ever Y
Golfer OF the uttermost parts of The
earth. Europe sent homo to us our Sc
curities, for only the shining gold can
quiet the pulse of the money king. Tho
money that did not go 10 Eur ,pe's aid
was held in bank vaults and private
Golfers to be ready ftran impending
panic. Nothing but the grace of God
saved the world from panic wide,
and arther reaching than history
dreams OF.
with return of confidence there
VIII be return OF activity and relay
Ing OF the strain. Is it not fact tina +;
a part OF your capital hero was from the
outside in the form of deposits and re-
discounts and may not the WI lhdrawl { :
this money have caused the lack of
funds in your local affairs? Could not
your banks avail themselves of easy
money in New York and rcdiscount?
The money put in here by building 1.
loan associations and other loan com
panies has tided your town over IT,
shoals in fine shape.
The financial skies are beginning to
brighten and it seems il every dot in
the milky way meant a gola dollar in
circulation. Confidence is returning
The guarantee that this confidence =
well founded, and the rapid return /
activity and prosper -ty are the enormous
cops of every thing. There never was
such yield throughout the length ar d
breadth OF the land of every cl1ss of
crops. You arc richer than You d-.,a.l
OF. Every man who bought 10 AMI
paid for them has saved something.
This is far better than the system OF
gambling in stocks. grain, oil and colt m
with a fellow on The otter end Of the
wire in New York or Chicago, linn fam
Ing you out Of your money.
II bid yon ID Of good onecr, and urge
upon you CO. operation and a unity of in
terests and symoatnies. This club or
association should be the tribune Of the
people of RoanoLe. 1t should mould
public opinion and lead it rightly 1t
should be a capitalization Of all the il
tcrests OF the city. by freque7 1T COM
Ing together and an interchange of
idefs, the growth of your wonderful city
can be stimulated and wisely prom ,tel
IN nni'y there is strength, and esprit
dil corps is the stimulus to courage
Mr.. Clark was followed briefly by Col.
Thomas Lewis and Mr.. p. Miller. OF the
| Brldgewater Carr age Works. j. Allen
Watts spoke at length in most inter
estirg manner, presenving a solid array
OF facts OF the utmost local interest
"A Gel "a N prominent Pa ladelphia
lawytr, sad he, "old me that two
m, nths ago it was in possible to Obtain
loans in the banks OF Philadelphia on
account OF the entire lack OF c, lf 'ence
OF the business community. Wi. lin
tn zee weeks loans have become cas- or,
and we are on the verge of an era OF
rap'' advances.
This lawyer" said Mr.. Watts, states
that western mortgages are in much
better standing than at any time within
recent years. Kansas will have a sur
plus over the cost Of prod ucia, her
crops. OF ninety million dollars this
year, Missouri an equal sum ard Texas
not less than two hundred and fifty
million. The banks are all prepared now
to mako time loars and hardly
k low what to do with tho money which
is coming into their hands Tho Nnst.