The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-06-25
sartow.s rudignation Meeting.

BartOW-S IuOlRnaClOn mo6JlQR.
Citizens of Barlow, Polk county, Florida,
held an indignation meeting on Monday
and adopted resolutions condemning the
Times Union for saying, among other
things. the following: There Is big infa-
ton in Florida phosphstes- The business
needs to have good bit of the wind taken
out of it right now" The Times Union
also stated that the money thus far made In
phosphates in Florida has been made chiefly
by speculation in phosphate lands, and pre-
! dicted that reaction would soon take
place.
The Barlow people appear to be highly
indignant at these statements of the Times
Union. They declare that the Times Union
deserves the condemnation of every citizen
of Florida "for thus wantonly stabbing at
our great phosphate industry" and they
stamp the Times Unton's assertion as "un-
qualifedly false and born only of
ignorance"
There is no doubt about the richness OF
Flcrida's phosphate deposits. The state gov
vernment and the government of the United
States have certified TO the existence, in por-
tions OF Florida, Of phosphates Of an ercel
lent quality and in an almost unlimited
quantity. And phosphstes are being mined
and marketed by the hundreds and thou
sands of tons. There are Savannah fertilizer
companies that have invested large sums of
money in Florida phosphate lands and they
are not speculatiDg in the lands. They are
mining the phosphates and shipping them
to market.
But there is speculation IN phosphate lands.
There is no doubt about that. And what
harm is there in specializing in these lands?
All who buy them don't intend to 60 into
the business Of mining phosphates. The
majority Of the people who buy lots in
towns which are being doomed don't intend
to build houses upon them. They purpose
to sell them for more than they gave for
them. And why shouldn't people buy phos-
phate lands. or lands supposed to contain
phesphates, in Florida with the the view Of
selling them at profit.
What is taking place in Florida phosphate
lands is just what takes place in every min
ing locality. Some phosphate lands are
purchased for speculation and some for de-
velopment, but the fact that there is specu-
are not rich In phosphate Indeed, the
greater the speculation in them is and the
higher the prices received for them are the
stronger the presumtion is that they are
valuable.
1t is not to be expected that everybody
who owns phosphate lands will begin devel-
oping them at once, and it is not desirable
that they should. The market for phos
pilates would soon become overstocked and
the prices would fall so low that there would
be no profit in mining the phosphates But
eventuallythe valuable lands will be worked.
And it is a matter of little consequence how
many phosphate companies are launched.
The stock Of some Of them will be very
valuable, and Of some Others comparatively
worthless Those who invest in phosphate
companies will have to take their chances.
In making purchases they must keep their
eyes wide open. If they don't, the proba-
bilities are that their investments will not
prove to be as profitable as they expected.
Florida is all right. Years ago Horace
Greeley said that some day she would be one
of the richest states in the union. and it
looks as if his prediction would come true.
Her phosphates alone promise to make her
rich, and without them she would be rich,
for her production of fruits, vegetables,
cotton and tobacco is increasing wonder
fully