The Forrest City times. [volume] (Forrest City, Ark.) 1871-1919, 1897-10-08
SOUTHERN INVESTMENT.
Difficulties Which Capitalists Believe
Are in the Way.
A Few Sober Expressions From Southern
Men on the subject of Why Capital
Is shy Of MISREPRESENTATION
Capitalists, Too. Give Their
Views on the Subject.

| forests of untouched tim Der, Lodges OF
coal and mountains of mineral, Arkan-
sas, the center of the great southwest,
ought to enjoy business revival and
an era of improvement greater than
any other section of the country. Will
they come? For a number of years the
people of Arkansas have labored to
obtain more railroads, manufactures
and immigration, but the effort has not
produced satisfactory results. Indeed,
the problem which for years has most
puzzled men of enterprise and public
spirit is how to induce capital to in
crease the wheels of industry in this
prolific land? Ii Arkansas were bar
rem waste it would be easy to solve the
| problem, but it is a region which
abounds in raw materials, land whose
climate admits of more days for out
door labor than any other section of
the globe; land in which the cost of
living is cheaper than in any state not
situated in the same latitude; a state
which lies in the path of projected rail-
roads from the grain producing regions
to the gulf, and over which will some
day pass the bulk of western grain for
export; state which produces suffi-
cheney of cotton to clothe the people of
the republic and can furnish enough
raw material of every kind to make all
the manufactured products needed by
its population-why should such a
state plead for capital or expend time
in supplicating at the office of railroad
builders? 1t ought to be sufficient
to induce capital and railroads to
simply present the advantages the
state possesses to enterprising men
who have capital to invest in paying
ventures, but for some reason, well or
ill founded, they are timid when it
comes to the point of placing money in
southern enterprises and securities.
Arkansas is not alone in fruitless
efforts to induce capital to develop its
resources. Other southern states have
tried to influence capital and succeeded
in part only in the undertaking. This
problem in southern progress has en-
crossed the attention of many of the
best men of the southland. 1t has
been discussed by immigration socie-
ties, boards of trade and commercial
leagues, not to mention newspapers
who debate the theme day in and day
out. Recently, R. w. Martin. manu-
facturer at jackson, Tenn, asked
through the Manufacturer Record of
Baltimore, that northern capitalists
and other persons be invited to state
specifically why they were not disposed
to invest in the south. The Manufact-
urer's Record is southern industrial,
railroad and financial Newspaper emf
nently friendly to southern progress
and interests, and in response to it's
request for reasons why capitalists
hesitated to invest in southern enter
prises a number of answers were given.
containing the sober views of bankers,
railroad presidents and others associ-
ated with monied corporations. Com
meDting on these statements the Manu-
facturer's Record says:
They are unpalatable to some persons, for
they point directly to influences which stand
In the way Of full development OF the magnifi-
cent resources of the south. The honest legis-
lator and the man Of affairs are not included
In these influences, but 1t is urged that they
should join to drive the demagogue from the
position which he seeks, and where he Is a
positive menace to the well being Of his section.
The Difficulties Investors Think They See
Samuel Spenser, president of the
Southern Railway company, says:
The real reason for many OF the disappoint-
ments which have resulted from efforts to de-
velop the natural resources OF the south which
are so abundant, has its foundation In the evils
which you now propose to attack and unless
those evils can be removed, unless the public
agitator can be forced TO take a position be-
hind the active, intelligent business man, future
efforts to develop these resources will continue
to be seriously impeded as they have been in
the pa I.
Major J. Hanson, of Macon, Ga,
expresses himself as follows:
This is the doctrine to preach to our people in
season and out Of season. There are many
opportunities for profitable investment in the
south, but when people generally are
judged by the incendiary utterances Of few
with reference to corporations of every char
acter. and to capital In every form it is no
wonder that people who have capital to invest.
and who would gladly invest in enterprises
here, are deferred from doing so.
n. +. Thompson, secretary of the
board of trade at Johnstown Pa, who
is southerner by birth, says:
Every leading newspaper OF the south should
enter into campaign OF southern develop
ment and severely eschew politics. for the
present at least There are millions OF money
up here seeking investment. The west is in
disfavor. but capital viii not go south until
the south shows that 1t is wanted and will be
rightly protected. II that is done the tide OF
both capital and immigration will go south
ward. The press of this section will heartily
second such a campaign. AS native south
erner, heartily thank you for your noble
work.
Abram S. Hewett, ex-mayor of New
York, saws:
Positive legislation interfering with con-
tracts must always result in loss to the party
violating the cardinal doctrines of honesty
which have been developed by the experience
OF business men. l am glad therefore that
you have taken up the subject. and 1 am sure
that many of the difficulties, which are now
complained Of, will disappear when capitalists
shall be assured that they can make invest
ments, for the recovery of which they will not
have to vindicate their rights In courts OF law
or be subject to defeat by legislative action.
Henry Fink, president of the Nor
folk and Western railway, says:
1t is generally known In the east that the
south offers exceptionally good opportunities
for investment Of capital but the impression
largely prevails that public sentiment in that
section has tendency TO render such invest