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

States.
BALTIMORE, Dec. 31.--The Manufac
turer's Record publishes in this week g
issue it's 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 34,500,OOO,OOO, a gain
of $270 100000 over 1889 and of $1,000
100000 over $780,
The number of national banks in the
south is $50, with an aggregate capitol
or $500, IG3, I00, an increase during the
year of 1O4 banks and $10630, 600 capi-
tai. Ten years ago the south had 22O
national banks with total capital of
$l3,l0S,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 $1O,523.793, or
an average lll5 per cent. on the total
capital. Only two southern national
banks failed during the year. and both
OF these failures were due to dishonesty
Ill 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 1880 were $lOO.S9i ,517 against
$'O,29O.l1O for the same time in 1852 an
increase of Sl0,60iOI7.
The total value Of foreign exports from
all southern ports for the first eleven
months OF 1880, was $500, 293,O 900, an i'll
crease of $2l ,l4l ,OfO over the correspond-
ing months of 1889, while the increase
III the balance of the country was only
- Sl,S3l,47 the increase at southern ports
Delng live times as great as the combined
gain at all other United States ports.
The production of pig iron for theyear
foots up to about 100000 tons, a gain
of $4,000 tons over 1880, of 900 tons
| over 1888, and of more than 100000
| tons over 1887.
The total production Of cotton for the
last SIX years has been 42,0OO,OOO bales,
| worth, including the value of seed sold.
about $2,3OOOO0,OOO, or an average of
nearly S4OO,OOO,O0O a year.
The consumption of cotton by south
ern mills was 549,4S7 bales last year
against 26G,0OO bales in 1855, a gain of
over 100 per cent. During the year B.
VIZ new manufacturing enterprises, Gov
| er!ng every variety of industry from
tack works to steel works, were organ
| lZed IN the south, making q total during
the last five years of over II 600 new Ell
terprises.
Commenting upon the statistics of the
South's progress, The Manufacturers
Record says:
The past twelve months have been q
period of unprecedented activity in ever,
department. of industrial and commerci
al enterprise in the south Every factor
in business reflects general activity Tho
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; agri
cultural and manufacturing cts
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
deyelopement, 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.