The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-04-01
POSSIBILITIES ENORMOUS
Influx of Foreign Capital Based
on Sound Reasons.
SOME INTERESTING STATISTICS
Fires Lighted in a Steel Mil 10 Alabama
to Produce the First Steel From
Southern Ores in South
nr, MILL
err Mill.


it has by no means received
the treatment it deserves it is
beginning to be everywhere recognized
that the prosperity of the South is
founded ON good grounds and that 1T
affords very attractive field for the
influx of Northern capital either for
business or investment purposes.
An examination of recent number
of the Textile World diseIoses the fact
that the construction of cotton mills
in Southern States proceeded quite
uninterruptedly and steadily through
1895, the principal States being Ala
bama, Florida, Georgia, Mississippi,
North Carolina, South Carolina, and
Tennessee. The aggregate number of
mills just constructed and in opera
ton, or soon to begin, was, in jan
uary, As, of which North Carolina had
16, and South Carolina 10. The largest
number of mills constructed during
1895, outside of the Southern States,
in any one State, THAT of Massachu
setts) was 5. Nor are these mills in
considerable in quantity of output and
size of plant; one mill fer example. in
North Carolina, employing 1000 hands
looms, and another 100 hands, 5,400
spindles and 1,720 looms. In wooden
and knit goods a disposition is mani
tested towards similar construction,
although perhaps not yet to the same
extent within the States above noticed.
Besides new constructions, many en-
1argements and improvements have
recently taken place in mill properties
already located and in successful opera
ton, comprising, for example, in North
Carolina alone, % mills which have
been extending their business facili-
ties.
That this extension Of business has
not ceased with the year just ended is
shown by a list of projected industries
from the same source, which shows, in
North and South Carolina alone, 80
such enterprises, and in the Southern
States SO, and yet outside of that terri
tory. only in all the rest of the Uni
ted States.
The South also has within her bor-
ders unlimited mineral wealth, gold,
silver, iron ore, coal, phosphate rock,
granite and marble.
The gold field III North Carolina
seems to embrace ten counties: Gull
ford, Randolph, Moore, Davidson, STAN
ly, Montgomery, Rowan, Cabarrns, Tn
ion and Mecklenburg, containing some
833 mines, 1s7 of them reporting a pro-
duction Of S14, 1856. 900 with an average
mill value of ore Of $7.02 per ton: silver,
I3 ounces; copper, 4.95 per cent; lead,
per cent; zinc, 5 per cent: sulphur,
6.s5 per cent; 1890, 500 tons of millable
ore in sight in reserve in the mines and
with a possible daily capacity of 3,055
tons. These figures are reported by u
careful writer as being correct, al
though slightly in excess of the mint
estimates, and III ig claimed that there
are 16,500, 000. 900 tons Of available ore
in this belt worth $3.50 per ton; equal
TO 1929, 75o, 100000
The development Of the iron industry
In the South has been slow, but the
fires were lighted in Alabama recently
to produce the first steel from South
ern ores In Southern mill, the ca
pacity Of which is fifty tons day OF
excellent quality. This is the result
of experiments showing that Southern
ores will produce the desirable quality
of steel. This industry has heretofore
been barred from development upon
the slipposition that low silicon iron
could not be produced from these ores
SO far as To be suitable for making
steel
Speaking of the beginning of the de-
yeIopment of this important industry
in the South, the New York Financier,
in a recent editorial, says:
There are the strongest reasons in
the world for making the assertion that
the South will at no distant day wrest
the supremacy from long established
Northern centres as an iron and steel
producing section Those who recall
the early days of Birmingham will re-
member that Northern iron mannfac-
tnrers were wont to make light of the
claims that the new aspirant for this
branch of trade was able to manufac-
ture iron cheaper than the North could
produce 1T, but this deIusion has been
dispelled long since To-day Southern
iron Is potent factor i'm the mar
kets or the world, and its increased
consumption has been brought about,
not alone from the fact that it can be
sold more cheaply, but because In
trinsically it Is metal suited TO the
diversified uses 10 which it has been
put.
I'm this connection it is interesting
to note that the first steel mill to pro-
duce Southern steel from Southern ore
has been recently put into operation
at Birmingham, and this one fact must
forever put an end to the distorted
theory that the local product of the
South was unsuited to be put to the
higher uses of the trade.
.'This pioneer development Of new
industry is highly important, as there
is not the least doubt in the world that
the new consumption viii force older
established concerns In the North TO
one Of two alternates a reduction in
selling prices, which In view of the
cost of production is out Of the ques-
tion--or 10 take advantage of the OPP
portunities which the South affords,
and locate where they can compete
successfully with their newer rivals
The gniticance of this industrial nil
grafton is not 10 be belittled. It will
begin 10 impress itself on the most
superficial OF observers before many
a. q - 4. n