Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-06-17
FROM AN ENGLISH VIEW.
CAPITAL IS SATISFIED WITH IT'S
INVESTMENTS.
Adverse Lcaisintion Has Put Cheek
on the Flow of Money Into the
state, nut Foreisners are Hope
full OF the Future.

President c. II. Sllliman OF the
Chnmber OF Commerce, and manager
OF the Land Mortgage Bank of Texas,
limited. Is back home again. after
something over two months visit TO
England. and. incidentally, to Scot
land.
lie left for New York on the Cunnrd
stoamship Lucanla on April z, and re-
turned on the Campania last Saturday
week, arriving In Fort Worth on
Thursday, after most agreeable bus
mess trip.
Mr.. silIiman went to London and
then to visit his wife's relations In
Ke'gley. Yorkshire. after which he re-
turned to London and made a report
OF the condition Of the bank, which
he said was eminently satisfactory TO
the board OF directors and the stock
holders, The bank declared the usual
dividend OF 10 per cent.
The directors Of the bank were es-
pecialy wen pleased with Mr., SILL
mans report. In view OF the fact of
the suspension Of so many American
mortgaGe companies.
"They expressed themselves as be-
Ing confident" snid Mr. Silliman, that
this would be the place for more In
vestments ns soon as the tarln is set
tied and business resumes lis normal
conditions.
"At present the manufacturers had
TO keep up work In order TO give the
factory hands employment ana 70 save
the cost incurred In keeping their inh-
chinery standing, and they have plea
up millions OF dollars worth of goods,
na the American importer Will not
buy the English Manufacturers goods
until they know what the duty on
them viii be. This applies to the cur
pet, wooden and cotton goods mhnuihc-
turers, who are hoping for an ad-
luatment OF the tariff question.
"Of course. the lower the tarin u,
the better II " for them, because trhde
will become more active
'You would be surprised 10 know
how well those English people who
are Interested in this country are In
formed about our resources. They are
often better Informed than some OF
the New England people In regard to
Investments.
"Thcy are largely interested here
about land and cattle Investments.
About fifteen years ago English and
6thltn EunlAuHalh M'hN WY iAik NaF
into Texas grazing lands and
cattle and they organized large mum.
her OF cattle and lind companies. At
first they We're quite successful and the
companies paid large dividends. but
have recently suffered ttum the general
Depression so that they are AZ present
not inclined To make Investments In
thnt direction and are paying more at
tontion 10 mortgages, There seems 20
he no dispouitlon 20 buy lands OUT
right.
- good many English Investors have
become frightened by such adverse
legislation ne the alien land law,
which, however, was repeated after re.
maining on the statute books only ak
months. In the last fifteen years more
than 100000 600 have been Invested IN
cattle and grazing lands In Texas,
which brought about an era OF great
prosperity, and after this by adverse
and iil-advlsed legislation the polite
ians have Killed the goose that laid
the golden egg.
"Tie policy of this tate should be
TO cultivate those European countries
which have cnean money TO invest and
have closer relations With them, par
tloularly England. IL we establish a
direct channel Of communication with
England 10 as 60 bring out her chenr
goods In return for cattle and oottot
we would build up u commercial and
financial interest which would place
Texas at the hcad OF the nrocossiof
among the states OF the Union
III these close buHineas relation,
were suspended as the result OF higi
tnrlm we would close the English fac
tories 10 our markets and 10 cuae o
low tariffs Il would benefit tho agri
cultural interests. as the English mnu
ufaciurers would give us cheap good
for our products and the Texas farmer
would derive the benefit"
Mr., SULLIVAN said he heard n Coot
deal Of talk in London about TeNai
and the prospects OF change In IN,
tone of LEGISLATION In the state. Tn,
English are well posted In regard I,
us and are afraid OF the laws whlcl
may be passed detrimental to canitni
III We wish to get plenty OF chea,
English money! he said. 1--WE must d,
everything we can 10 protect the capi
tal That comes in. There are world,
OF money lying Idle In the banks o
London. which IL offered az ote-hal
10 three-qunrter OF per cent per an
mum. on call. and commercial notes q
discount for merchants and manurac
turerF on three 10 six month"; bill
are offered at per cent"
Speaking on the subject OF immtrrn
ton. Mr., Sllimnn said that there Nyal
disposition among the people /,
come TO America when they got tnourl
ahead. There II stu a good deal a
hnnigraion TO Australia, South Az
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