The age-herald., 1898-11-09
IN HOTEL LOBBIES
 AND ELSEWHERE

 C. Smith. who returned yesterday from New York. "It was very gratifying to me to hear so many appreciative words about Birmingham and it's territory. In New York they understand that we have demon- strated the extraordinary natural advan- tages of Birmingham, and they are ready to award us all credit and all praise"
 Are they ready to invest their money heFe?" was asked.
 "Oh, yes; opportunities for legitimate in- vestment most thoughtfully and favor ably considered. All of us understand that there have been unfortunate business ven lures in various sections of the south, but Birmingham is little blamed, not being blameworthy. All investments made here with ordinary caution will turn out well. Owing to the panic of 1893, for which Bir- mingham was no more responsible than she
 Is for the spots on the sum- some investors will have to wait for the full returns of their enterprise; but 1t will all come out right, as the capitalists in the east appre- ciate.
 There will never be another new spn- dle put into operation in New England. That is what they say in New York. The cotton factories of the future are to be built in the cotton fields Eastern investors who have put their money in southern cot ton mills are more than satisfied and such mills will rapidly increase throughout the cotton states Birmingham presents two unequalled claims for cotton mills-the cheapness of coal and the plentifulness of labor. There are thousands of girls in the district eager to earn the good wages paid by factories.
 Moreover, there is every reason to be- lieve that there will be a great increase in small factories for working up our raw ma terial. The opening of the great steel mill at Ensley will be the signal for the open ing of many smaller enterprises, and in the meantime such factories using other material than steel will be built Our ulti- mate prosperity depends upon these small industries, and they must come. Our peo- pie are getting together, and that means great strides for Birmingham on the way to greatness.
 "One point they seem to appreciate in the east, and that is the apparent determi- nation of the Alabama farmers to live at home. Country merchants are not likely to do in the future the full volume of trade they formerly enjoyed, for the farmers are making at home much of the necessities they formerly purchased of their neghbor- ing merchants. This change was jnevita- ble, and while it will go hard for a time with the merchants, in the end it will prove beneficial, for the farmers will get out of debt and will have something besides cotton to sell. It all comes finally from 4- cent cotton
 "The Nicaragua canal will, after it is fin ished, be of incalculable benefit to all this section of the south. The canal must be constructed-it will be great reality-and this section will grow rich and immeasura- bly greater"
 ''The state of Alabama is estimated to owe the state university about s2,000,000,' said a well-informed friend of the universi- ty. When the state established what was called the state bank some sixty years ago it held in trust $200,000 or $500 900 belonging to the university. Subscriptions to this bank were solicited but the money was not forthcoming and then the state de- termined to use the universitys money for banking purposes, paying per cent. in- terest The state made money so rapidly and in such sums that all taxation was sus- pended for a period of years. The collapse came and the state still owes the uni versity the money. It is also due all profits in excess of per cent, and due at least $1O,O00 of the $20,000 paid in fees to Judge B. F. Porter for his labor in ascertaining the general status of the university lands, and other property. The state had no right to charge Judge Porter's fees to the uni versity any more than it has a right to charge the sheriff of Jefferson county with half of the state examiners fees for ex- amining the accounts of the sheriff's office. "Of course the estimated sum of $20O0,- GOO due from the state to the university is made up largely of accumulated interest that has been piling up for half century, and would not be insisted upon as whole by the university trustees. But apart from interest, the state is heavily in debt to it's university"
 The state university debt commission, provided for by joint resolution of the last legislature, Is holding its last session in this city preparatory to submitting its re- port to the coming session of the general assembly, as required by law. It is under stood that the report will be ready by the time the legislature organizes next week. The commission is composed of Judge J. w. Lapsley, of Annston; Judge John J. Mitchell, of Florence, and pr. Eugene A. Smith, the famous geologist of the uni- versity. They decline to make public any points to be included in their report. In point of fact, the report has not yet been formally agreed to by the commission. "Captain w. c. Ward is well on the way to recovery" said a personal friend of his yesterday "His escape from death is lit- tie short of miraculous, and is due chiefly to his great courage and his determination not to die He had peculiar abcess of the liver, which required a surgical opera tion. Ninety-five per cent. of such cases result in death, but Captain Ward survived the ailment and the operation. He has | powerful constitution, which has never been weakened by excessive indulgence of any sort. He is the grand old man of Bir-