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

BALTIMoRE, Nd, March THE Man
ufacturer's Record of this week publish
es interviews with leading Baltimore
bankers rs to the effect on southern Sc
curi4ies 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 tho long
established house of Alexander Brown
u Co., of Baltimore, founders Of, and
associated with Brown, Shiply Il Co.
Co., Of New YORK, and of The Sransii
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 as the the larger ami
more profitable field for Investments
We have invested not only in railroad
securities, but in many others, and are
perfectly satisfied with them. During
the recent worldwide financial dcprcs-
sion, southern securities felt tho effect
much less than those of other sections,
Tho best securities always command
tho market, and those who wish to get
the best at the lowest price can find them
in the south and in it alone"
Mcssrs. Jno. A. Hampton 8 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
f.I er~s val. vf sisks so.ofvu Inns prOuuCed
and consequently the new railr Dads, which
have been built in producing sections
and where advantageous connections
have been made, have been generally sue
cessful AS in all enterprises there arc
croakers who predict disaster, 80 we
have heard the expression that there is
too much railroad building at the South,
This is not our opinion of tho situation.
On the contrary we hold that tho march
of progress has just commenced.
| Up to the past four years tho 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 tho North
and Wet. Now the staple products,
cotton al iron, are, to a great extent,
manufactured at homo, 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
3aales aQtssar=n,,ss-ssssz.zxsz-
in and the next decade will show most
astonishing increase in population In
climate soil resources and natural advan-
tages, the south defics competition. I'm
der these circumstances, is it strange the
railroad men arc anxious to take advan-
tage of the situation, and that their ut
tention should turn to section which
promises such handsome results? Rail
roads in productive and improving sec
tions and paying traffic awaiting all cx
tensions, and new roads from their com
| pletions are recorded by n business which
taxes them to their full capacity.
Messrs. Fisher an, Si,i;i;:. s,ii: Sc
Curities during the recent financial dis
tress, suffered far less depreciation than
those of other sections. In II 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 of 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 a steady advance in the commercial
anu industrial development throughout
<ho eoufh ~